He added, “We are confident that our usage-based insurance will allow many drivers to enjoy savings, convenience and hassle-free experience through a trusted platform. Carro is proud to work with NTUC Income to extend this scheme to the wider pool of Singaporean car owners.”
Peter Tay, Chief Digital Officer at Income said: “Innovating with leading digital partners has enabled Income to continually reimagine insurance and bring even more value to consumers in Singapore. Our collaboration with Carro has equipped us with invaluable customer insights which empowered customisation of insurance solutions. We believe our customer-centric approach to innovation will allow us to bring even more products to Carro’s customers and Singapore car owners at large.”
Drivers that have an existing subscription plan with Carro will automatically benefit from this usage-based insurance offering. Their savings will be reflected in the next billing cycle.
Carro’s subscription model, first of its kind introduced in Singapore – offers all-in flat monthly charges starting at S$1,399 that covers insurance, road tax, regular maintenance and 24-hour assistance.
Through Carro’s flexible subscription-based service, currently available in three plans – Daily, Roomy, and Fancy – users no longer have to stick with the same type of car for the full period of ten years. Users can choose to return the car anytime, forget about the need to sell the car after using – a truly hassle-free car ownership experience.
Carro is transforming car ownership through its 360-degree approach which includes buying and selling, financing, insurance, warranty, workshop and roadside assistance. To date, Carro’s forays across Southeast Asia include Singapore, Thailand and Indonesia. The company is the region’s largest automotive marketplace – having transacted over US$500 million worth of cars in 2018.
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