• About
  • Contact
Friday, July 1, 2022
  • Login
Next Big Brand
  • .
  • News
  • Marketing
  • Tech
  • Insight
  • Interviews
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • CRYPTOCURRENCY
  • Retail
No Result
View All Result
Next Big Brand

Ola sells 20 Mn In-Trip Micro-Insurance Policies Per Month

Sourav by Sourav
June 27, 2019
in Startup
Reading Time: 2 mins read
A A
0
ola

Ride sharing platform, Ola, has been enjoying steady growths in the Indian market. However, the fact that remains that cab hailing is a very competitive space. Even though Ola is currently zooming far ahead of Uber, the company is taking steps to ensure that they have solid USPs that make consumers choose them over Uber. One such step is Ola’s entry into the micro-insurance space. By letting consumers insure their lives for a nominal fee of Rs 1, the brand is now expanding its avenues into finance. We’re sure this is only the first step within this arena.

What ROIs can consumers expect with Ola’s micro-insurance?

As of now, Ola is offering accidental death insurance for cab rides within cities, as well as long distance ones. Consumers who pay Rs 1 can expect an ROI of Rs 5,00,000 for their city rides. On the other hand, they can also pay Rs 49 and expect an ROI of Rs 7,50,000 for outstation rides. As far as life insurance amounts go, this is not very high. But when you consider the super affordable premiums, these ROIs are very, very good. According to the brand’s reports, 2 Crore users opt to pay the premium each month. That’s a really good source of revenue for the brand!

Furthermore, Ola is also offering covers for accidental medical expenses, hospitalization and lost baggage too. This helps it tie in the travel insurance segment quite neatly into its offerings.

In a country where more than 1,50,000 people die in car crashes annually, this offering by Ola makes a lot of sense. It not only adds to their revenue, but also adds value to the customer. The low premium rates ensure that the average customer uses the option to insure their lives without thinking twice.

car insurance small

Image : financialexpress

Will Ola expand into more financial products?

Ola has applied for a Non-banking Financial Company (NBFC) license. This can mean that they are planning to offer more financial products. With the brand earning 2 Crore INR additionally every month thanks to their micro-insurance, they will probably start offering other financial products too.

The company already has Ola Money, which is accepted at most leading food chains like Dominos. They also have another offering called Ola Postpaid, in which consumers can may monthly Ola bills, instead of paying after each ride. So, to be fair, this foray into the financial sector is not exactly new for them. Considering the steps that they have already taken, this seems like a very organic space for them to grow into.

While there is no clarity on whether the brand wants to expand into the loans and credit cards space too, with the NBFC license, they will be able to do so if they desire. Recently, other brands like Flipkart, Amazon, and Xiaomi have also applied for the NBFC license to get into the financial space. They have not make any offerings yet. This may just spell bad news for many FinTech startups that do not necessarily have access to the types of consumer data that these brands do.

Previous Post

Were You One Of The 11.2 Million Who Watched Ind Vs NZ Live on Hotstar?

Next Post

Swiggy Store: From Paan To Health Supplements, They Deliver All!

Sourav

Sourav

Excellent story-teller, with a background in SEO and Digital Marketing. Likes to write and give form to opinion and incidents.

Related Posts

Metawhale Team
Cryptocurrency

World’s First NFT Museum Launched By Metawhale World

June 30, 2022
WhiteHat Jr Ads- Next Big Brand
News

Byju’s-owned WhiteHat Jr Lays Off 300 Employees

June 29, 2022
png 20220628 164551 0000
Cryptocurrency

Cryptoys Raises $23 Million to Mix NFTs, Gaming, and Virtual Toys

June 28, 2022
20220627 152251 0000
News

Proptech Startup PropShare Raises $47 Million Led by WestBridge Capital

June 27, 2022
Pine Labs Founder
News

Merchant Platform Pine Labs Acquires Fintech Infra Startup Setu for $70-75 Million

June 23, 2022
Cashify Founders
News

Cashify Raises $90 Million in Series E Round Led By NewQuest & Prosus

June 23, 2022
Next Post
swiggy

Swiggy Store: From Paan To Health Supplements, They Deliver All!

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

BROWSE BY TOPICS

Acquiring amazon Apple Brands brand story Byjus byjus news byjus the learning app Cryptocurrency Edtech Startups Elon Musk facebook fintech news Flipkart funding google Indian Crypto Startups Indian OTT Platforms Indian Unicorn Indian Unicorns Indian Unicorns of 2021 Mukesh Ambani Netflix NFT NFT Collection NFT India Non Fungible Tokens Ola OYO Paytm Reliance Retail Startup Acquisition Startup IPO startup news india startups in india Swiggy Tiktok Twitter Unicorns of 2022 Unicorns of India Unicorn Startups Upgrad WazirX YouTube Zomato
check more news on that pages youtube converter, filme online 2022, filme porno mature, porno amatoriale, nxnxx.org, https://xvideosxnxx.org, https://xoxporn.net

Instagram

Follow Me!

Recent News

  • Binance Taps Most Popular Tiktok Star Khaby Lame To Drive Web3 Adoption
  • World’s First NFT Museum Launched By Metawhale World
  • Byju’s-owned WhiteHat Jr Lays Off 300 Employees

Latest News

20220630 185323

Binance Taps Most Popular Tiktok Star Khaby Lame To Drive Web3 Adoption

June 30, 2022
Metawhale Team

World’s First NFT Museum Launched By Metawhale World

June 30, 2022
  • About Us
  • Privacy Policy
  • Terms and Conditions
  • Disclaimer
  • DMCA Policy
  • Our Team
  • Contact Us
  • Sitemap

© 2019 NBB. All Rights Reserved.

No Result
View All Result
  • .
  • News
  • Marketing
  • Tech
  • Insight
  • Interviews
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • CRYPTOCURRENCY
  • Retail

© 2019 NBB. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.