Ola to offer motor insurance to drivers along with Bajaj Allianz

India's leading mobile app for transportation, Ola has partnered with Bajaj Allianz General Insurance to provide motor insurance solutions to its driver partners.

The tie-up between the two companies will have easy access to availing motor insurance with a host of value added services and add on covers like depreciation shield and engine protector provided by Bajaj Allianz.

The partnership will increase savings on insurance premiums for Ola driver-partners and provide convenient claim settlement services through a network of over 4,000 Bajaj Allianz preferred workshops.

The two companies are also working together to create a digital infrastructure that will bring insurance transactions like purchase or claims, fully online.

"Driver Entrepreneurs are key stakeholders to the growth of mobility in India and we are building a robust ecosystem for them through initiatives like these, enabling them to grow professionally and personally," said COO at Ola Pranay Jivrajka.

"Motor Insurance is essential for driver-partners and together with Bajaj Allianz, we are enabling easy access to driver-partners, giving them better savings, benefits and technology for the insurance they are buying. By investing in such partnerships, we are making a significant impact on the careers of driver-partners, who are integral to our mission of mobility for a billion Indians," added Pranay.

"We are pleased to tie up with Ola, an Industry disruptor that has set benchmarks in its services to customers and has transformed the lives of Indian commuters. This tie-up is aimed at providing Ola's driver partners a one-stop solution for all their motor insurance requirements, including value added services," said Chief Technical Officer- Motor Insurance, Bajaj Allianz General Insurance Vijay Kumar.

The motor insurance will not only provide a cover for accidents, but will also insure theft of vehicles as well as damage due to natural and man-made calamities.

It will also provide a personal accident cover of Rs. two lakh to the driver partner. The two companies' partnership in creating high customer value will also reflect through additional services beyond insurance like 24 x 7 roadside assistance (1800 103 5858), which will include towing facilities, medical assistance etc. for the drivers.

In the past two years, Ola has announced several social and financial benefits for its drivers. The company recently announced its partnership with Indifi to offer personal loans to its drivers.

Earlier in 2014, Ola had set aside a fund of Rs. 100 crore towards investment in the driver ecosystem to help nurture them as entrepreneurs.

Prior to that, Ola had launched 'Ola Pragati' in partnership with leading financial institutions like SBI to offer a tailor-made financing program to help drivers to take loans at lower rates and repay on a daily basis as against EMIs.