Uber Picks Up Driver Insurance in South Africa
By CultureBanx Team
- South Africa has 5,000 Uber drivers
- Uber’s net revenue in 2017 came in at $7.4B
In its four years of operation in Africa, Uber has seen significant progress on the continent. So as part of an extended commitment to driver-partner protection in its largest African market South Africa, the ride hailing giant has linked up with Chubb Insurance.
Why This Matters: Attacks are on the rise across South African cities. The country has a notably high rate of murders, with around 52 occurring every day, according to Bloomberg. It’s only right the company looks to better protect their driver investment in the country. In South Africa Uber has 5,000 drivers along with with 969,000 active riders.
Drivers will now have access to emergency medical treatment. In addition to driver injury protection, Uber will also provide assistance and legal representation through its RoadCover partnership.
“The partner injury protection has been tailored specifically for those on the road, building on the security available through the Uber app and ensuring a safer ride during every journey booked through the Uber app,”
Uber’s net revenue in 2017 came in at $7.4 billion, lagging behind public companies with similar valuations. The company doesn’t shell out financial information with much consistency and has worked to downplay its persistent losses.
What’s Next: Egypt is one of Uber’s fastest growing markets globally, according to the BBC. In its first 16 months in Lagos the company provided 30% more rides than it did during the same time frame in London. Look out to see if they deploy the same insurance model across the rest of the continent.
CBx Vibe: “OTW” Khalid