Ola rolls out ‘Chalo Befikar’ comprehensive insurance program for its driver partners
Bengaluru, December 18, 2017: Ola, India’s most popular mobility platform, today announced the launch of a comprehensive in-trip insurance program, customised for its driver partners across India. To make for a locally relevant and more robust insurance program, Ola has designed it with feedback and recommendations from driver partners themselves, and has added a variety of features to truly build a first-of-its-kind risk cover. Ola has partnered with Bajaj Allianz to launch this innovative program designed to benefit both, driver partners and their families. ‘Chalo Befikar’ Insurance will be provided to all active driver partners on the Ola platform offering a cover of upto INR 500,000. Unlike traditional life insurance programs, this comprehensive scheme also provides daily benefits in case of hospitalization that cover business losses, apart from taking care of outstanding car loans and children’s education. Today, a majority of driver partners across India do not have access to comprehensive medical insurance, or even a life insurance cover; Ola’s insurance program is thus aimed at alleviating the financial burden for driver partners and their families.
More details on the unique features
● Coveringoutstanding vehicle loan obligation of driver partners, irrespective of theloan amount
● Children’seducation fee (up to INR 24,000 per year) per child till class 10th - over andabove a cover of INR 500,000
● Businessloss reimbursement of upto INR 750 per day for 3 months, in case of temporarydisability
Speaking on the launch of the insurance program, Vishal Kaul, ChiefOperating Officer at Ola, said, “Over the course of this year, we have spokenwith thousands of driver partners across the country to understand their needsto build a policy that better addresses their needs. This new program illustrates how a companycan leverage local intelligence and work together with its beneficiaries tocreate an offering that is extremely relevant, but unavailable so far in thetraditional structure. This policy also ensures that a crucial aspect oftheir children’s future - education, is not compromised despite an unfortunateincident”
He further added, “Driver partners as stakeholders are playinga key role in the mobility revolution in India, and our vision is to bring themat par with one of the best social security schemes in the world. We arecertain that the launch of this insurance program will make a significantimpact on their lives and go a long way in supporting their entrepreneurialjourney. Ola is committed to creating an inclusive and empowering environmentin which our driver partners can operate and thrive.”
Mr. Tapan Singhel, MD & CEO, Bajaj Allianz General Insurance Company, said, “We are delighted to take our partnership with Ola to the nextlevel, with a comprehensive insurance cover for all its cab drivers.These drivers are partners of Ola and it is critically important to financiallyprotect them against a possible accident. I am confident this is a step in thedirection to ensure the entire driver partner ecosystem of Ola is protected andinsured.” Santosh Kumar, Ola driver partner in Bengaluru, said, “Getting a comprehensive insurance plan isnot only expensive but also challenging in terms of selecting the right policythat suits our needs. Ola has now changed that. All my peers are delighted toknow that Ola has helped us with a free insurance package that meets our needsas driver partners. I am especially happy to know that the benefits are notonly restricted to me but also cater to the needs of my family and children. Ican now worry less and focus more on growing my business.”
Ensuring ease of accessand utilisation, Ola has created a special hotline for all its driver partners,where all queries and claims can be sought by calling 022 62613345.