Submitted by

Grab

Premium
08/01/2026 Insurance Innovation
A fractional & scalable income protection proposition
Innovation details
Country
Singapore
Category
Product & Service Innovation
Keyword
Car & Mobility insurance, Micro Insurance, Embedded finance & Super apps, Accessibility
Business Line
Accident Insurance, Income protection
Distribution Channel
Online / Direct

Innovation presentation

Customer Problem: Gig workers only earn when they work, making it difficult for them to find time during family emergencies or recover when non-standard accidents disrupts their earning period.

Solution Concept: Working with the Driver Benefits team, jointly creating a subscription program with insurance elements that provides i) Compensation when passengers cancel a trip after the driver has spent substantial time on the job, ii) Compensation when a loved one passes away, affording the driver money to take time off, and iii) compensation when vehicles become unfit for work due to vomit or soiling.

Subscription will be done on a per trip basis, making it fractional and fair to both part timers and full timers.

The concept will be customised to the key pain points that drivers face in each market.

Competition: none

Departments Involved: Driver Benefits team, Insurance

Key Results: Surpassed 6 month penetration target by 2x within 3 months, vastly positive investment payback, and positive NPS impact

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