Morrison & Foerster LLP advised Chubb, the world’s largest publicly traded property and casualty insurance company, on a regional contractual-distribution joint venture with Grab Taxi, the leading on-demand transportation and Fintech platform in Southeast Asia. The partnership enables Chubb to market and sell general insurance products through Grab’s IT platform to both end-customers of Grab and Grab drivers.
Chubb is committed to the digitization of its insurance products and services to meet the needs of its customers. With this partnership, Chubb is able to offer relevant, convenient and affordable digital insurance options to the eight countries where Grab operates, namely Singapore, Indonesia, the Philippines, Malaysia, Thailand, Vietnam, Myanmar and Cambodia.
Leveraging on the data technology from Grab’s platform, including telematics, machine learning and predictive analytics, Chubb aims to offer insurance solutions personalized to the specific needs of different private-hire vehicle drivers in Southeast Asia. The MoFo team also advised on the structuring and negotiating of the technology and data sharing arrangements between the parties’ platforms and associated services and licensing arrangements.
The transaction closed on March 13, 2018.
The MoFo team advising Chubb was led by Singapore corporate partner Jake Robson and Hong Kong technology transactions partner Gordon Milner, with key input provided by Singapore of counsel Maria Steeples and Singapore senior associate Nick Davies.
For more information, please see the related press release.