ZhongAn Technologies International Group Ltd. and Grab Holdings Inc. will form a joint venture to enter the digital insurance distribution business in Southeast Asia.
The venture will create a digital insurance marketplace that offers insurance products through the Grab mobile application. The platform will be launched in Singapore in the first half of the year and then roll out in other markets.
In conjunction with Chubb Ltd., Grab will offer an insurance product to its drivers in Singapore to protect them from loss of income owing to illness or accident.
ZhongAn Technologies is a subsidiary of ZhongAn Online P&C Insurance Co. Ltd.