Bimaplan partners with zingbus to offer real-time travel insurance

By integrating insurance into its existing product, zingbus aims to provide a safe journey and a better customer experience, boosting customer acquisition and retention.

With this integration, Bimaplan has simplified the operational and technological process that zingbus faces in providing insurance services. This allowed the travel technology platform to go live with the product in less than three weeks with five times faster onboarding, helping them build a loyal customer base.

Through its integrated UNO insurance platform, the insurtech company will provide a range of coverage including travel accidental death, permanent total disability, emergency medical coverage, medical evacuation coverage emergency, repatriation of mortal remains coverage, travel accidental hospitalization benefit (up to 7 days) and loss of baggage coverage to ensure a safe, convenient and reliable travel experience.

The popularity of travel insurance is growing rapidly in the post-Covid world. Travel insurance is no longer seen as an afterthought, but as an essential tool, ready to provide travelers with protection that covers all sorts of uncertainties. Intercity buses carry more than 30 million people every day, representing huge potential in this market. The suburban bus market, currently valued at $30 billion, is expected to reach $48 billion by 2025, growing at a CAGR of 9.8%.

Vikul Goyal, CEO of Bimaplan, said: “In light of the recent boom in intercity travel following the COVID pandemic, it is imperative to secure every trip to minimize risks such as accidents and lost luggage involved in travel. trips. The insurance taken out at the time of booking the trip guarantees travelers a complete and safe travel package. We are confident that our partnership with zingbus will preserve and enhance customer travel experiences.”

With its intercity bus service, zingbus connects more than 500 cities across 17 states. It has a fleet of over 350 buses and has served over 20 lakhs of customers. Offering free travel insurance to its customers is a step up in customer experience given that the long distance startup is primarily focused on comfort and safety.

The collaboration adds a new product to Bimaplan’s existing portfolio, helping the company expand its insurance adoption efforts across different segments. Bimaplan expects to secure 1 million trips next year for zingbus.

Prashant Kumar, CEO and co-founder of zingbus, said, “We are always looking for new ways to increase safety benefits for our travelers. This additional favorable factor will help us improve the customer experience while traveling. The scope of this free integrated insurance cover is to act as a safety net, from the time the customer boards Zingbus until return. The insurance provides personal accidental coverage and lost baggage coverage, among others. Covering these risks provides an extra layer of protection against unforeseen circumstances.”

Depending on the user’s needs, the platform offers partners tailor-made plans. In a short time, the insurtech startup has onboarded more than 30 partners in NBFC, MFIs, neobanks, logistics aggregators and gig platforms. Over the next year, Bimaplan plans to simplify the insurance sales process and user experience for more than 100 companies and potentially reduce churn by 40%, the company said.

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