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Monday, 21 January, 2019, 15 : 30 PM [IST]

Goibibo and redBus partner with Acko to offer customised insurance products to its users

• Acko designs group travel insurance for redBus users covering inconveniences like trip cancellation & bus type mismatch and for GoCabs users for cab delays in addition to traditional travel insurance benefits such as baggage loss and accident • Signals Acko’s entry in the travel insurance vertical
New age insurance company, Acko General Insurance Limited, announced a strategic tie-up with Ibibo Group, to offer customised travel insurance products to users of redBus and GoCabs. 

redBus with over 2000 bus operators running on more than 1,00,000 routes across India. With a market leading share of the market, redBus has the largest customer base of over 16 million. Two innovative insurance covers are the highlights of Acko’s travel insurance for redBus users and novel in the industry. The first is an insurance cover on cancellation where the user can claim 50% of the ticket value in case a bus operator cancels and does not provide a replacement on the same day. The second is a bus-type mismatch, where a customer can claim 50% of their ticket value in case the bus that is provided is not what they had booked.

On an average around 500-600 buses get cancelled daily by bus operators, impacting a large number of users every day. With this, customers can not only seek a refund for their cancelled trip from redBus but also be compensated extra for the inconvenience caused to them.

In addition, the insurance cover being introduced for redBus users will cover baggage loss and medical emergency due to accidents. The death and disability cover will be for INR 6 lacs each, for a premium varying between INR 8 to INR 25 (depending on the value of the ticket) and there’ll be a hospitalisation cover of up to INR 75,000. Apart from this, customers can claim up to INR 5,000 for loss of baggage.

The insurance on redBus will be available for only to Android app users initially. It can be purchased online at the time of booking the travel.
Prakash Sangam, CEO, redBus said, “redBus is always on the lookout for innovative travel solutions. The travel insurance product from our partner Acko that ensures worry-free travel for our customers through additional covers of bus cancellation and the bus-type mismatch is clearly in that direction. The hassle-free process of insuring a trip and filing a claim against is sure to delight our users.”

Acko is also offering an innovative insurance product with GoCabs, Goibibo’s intercity cab booking service that will cover death, disability, hospitalization and loss of baggage and personal content that may happen on the ride. It will also offer a one-of-its-kind trip delay coverage for delays of more than 30 minutes. This insurance cover is available to users for INR 39 for a one-way trip and INR 49 for a round-trip. The insurance cover for GoCabs can be bought at the time of booking a car ride on the Goibibo app.

“Customers face a few uncertainties and inconveniences while travelling and by partnering with Goibibo we hope to make it less worrisome for customers with our simple purchase and hassle-free claims process,” said Varun Dua, CEO of ACKO General Insurance.

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