Digital insurer FWD Singapore has teamed up with on-demand mobility services firm Ryde Technologies to offer its ride-hailing customers free insurance coverage against accidental death suffered during their trip.
Ryde will offer the coverage by FWD for free to all Ryde customers until the end of June 2022 when they book an eligible service on its mobile app.
Customers can also get compensated if they lose their identification documents or have their trips disrupted due to accidents.
If a customer-rider’s trip is disrupted due to an accident and they require emergency assistance, S$20 worth of Ryde Wallet credits per trip will be awarded to the passenger who booked the ride
If the customer loses their personal ID (passport, NRIC or driving license), up to S$200 per trip will be given to the passenger who booked the ride.
If the customer suffers an injury due to an accident that results in death, S$10,000 will be given per passenger.
Since launching in Singapore in 2014 as a real-time digital carpooling platform, Ryde now provides a range of services for commuters, including e-payment, private car and taxi. It currently has more than 10,000 driver partners on its platform and has been downloaded by more than 700,000 users.
Khor Kee Eng, CEO of FWD Singapore said that as Singapore reopens gradually, they expect demand for ride-hailing services to pick up and see strong growth potential ahead for this partnership.
“We believe in making daily commute better for all, and one of the ways we can do this is by ensuring customers who book our rides enjoy peace of mind during their journeys with us,” said Terence Zou, founder and CEO of Ryde.