It's been reported that a man who died in a car crash while riding a shared bike might have been covered by an accident insurance policy linked to his use of Alipay to unlock the bike. His family has reportedly received a compensation payout of 500,000 yuan, marking what is believed to be the first such claim within the shared biking industry.
The incident occurred on July 3rd at noon when the man, riding an ofo yellow bike, collided with a van at the intersection of Hanyang Avenue and Braun Road. He sustained fatal injuries as a result of the collision. At the time, the man had used Alipay's QR code scanning feature to unlock the bike, which included a provision for ride accident insurance. According to the terms of the insurance, users who suffer accidental injuries while riding can receive up to 5,000 yuan in medical compensation. For accidents resulting in death or severe disability, the maximum payout is set at 500,000 yuan.
On July 12th, the family of the deceased reached out to Alipay after finishing their meal. Alipay then connected them with Cathay Pacific Insurance Company. After verifying the validity of the policy held by the deceased, representatives from Cathay Property Insurance visited the accident site and the local traffic brigade in Hanyang District to gather more information. Based on their findings, they confirmed that the deceased's situation qualified under the insurance policy's coverage.
By July 20th, Cathay Property Insurance had completed its internal procedures and arranged for the compensation payout. Family members confirmed receiving the full amount of 500,000 yuan. The company had finished its verification process on the 19th and made the payment just two days later.
A spokesperson for Cathay Pacific Property Insurance noted that minor injuries like cuts and bruises are among the most common claims related to shared bikes. From data analysis, users are advised to inspect the bike's components, such as brakes and seat stability, before riding. They should also remain vigilant about avoiding collisions with vehicles, pedestrians, or other hazards.
According to available statistics, there are now over 10 million shared bikes in operation across the country, providing services totaling more than 1 billion rides. Insurance has become a standard feature in the industry. Different platforms offer varying levels of coverage, with some only compensating for accidents caused by bike defects, while others provide broader accident insurance policies for riders.
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