SINGAPORE, August 13, 2024--(BUSINESS WIRE)--Ryde Group Ltd (NYSE American: RYDE) ("Ryde'' or the "Company"), a technology company with a leading platform for mobility and quick commerce in Singapore, announced a strategic partnership with Singlife, a homegrown financial services company. This collaboration aims to redefine ride-sharing safety and provide unparalleled protection across different insurance services for both riders and driver-partners.

As a cornerstone of this partnership, RydeSafe, Ryde’s flagship safety initiative for riders, is enhanced with complimentary coverage until 30^th September 2024. This unprecedented move underscores both companies’ commitment to prioritizing our rider’s safety.

Enhanced RydeSafe Benefits:

• Singlife Ride Cover pays S$15,000 per passenger in the event of a road accident resulting in death.

• Singlife Ride Cover pays up to S$15,000 to opt-in passenger in the event of a road accident resulting in total and permanent disabilities.

• Singlife Ride Cover pays up to S$1,000 to opt-in passenger in the event of a road accident for accident-related injuries.

• Ryde will provide S$20 in RydeCoins for passengers who require emergency assistance due to an accident.

Beyond the immediate benefits, Ryde and Singlife will cross-collaborate to create innovative products and services that cater to the evolving needs of their respective customer bases. By combining their strength in mobility and financial services, the two companies aim to deliver a seamless and rewarding experience for all users.

Terence Zou, CEO and Founder of Ryde Group, shared, "Our partnership with Singlife significantly enhances the value we provide to our users, ensuring their peace of mind for every trip. This collaboration is a perfect fit with our common goal to prioritize user protection, safety and to drive continuous innovation."

Varun Mittal, Head of Innovation & Ecosystem at Singlife, said: "We are truly delighted to collaborate with Ryde on this exciting initiative. This marks an important milestone in our partnership; to innovate and co-curate Singlife’s Benefits XP together for Ryde’s passengers. It also demonstrates our team’s commitment towards pushing boundaries. This partnership firmly paves the way forward for our Commerce XP proposition, designed specifically for ride-hailing, marketplace and commerce industries."

About Ryde Group Ltd

Ryde is a super mobility app founded in Singapore and recognised as the world's FIRST on-demand carpooling app since 2014. As a publicly listed company on the NYSE, Ryde is reimagining the way people and goods move around by offering a full suite of services, including carpooling, private hire, taxi, and delivery. What distinguishes Ryde is its commitment to empowering private-hire and taxi partners by taking 0% commission, ensuring that drivers retain more of their hard-earned earnings. For more information, please visit https://rydesharing.com/.