Singapore-based insurtech Gigacover has bolstered performance through recently-inked partnerships with leading insurance brokerage firm, ComfortDelGro Insurance Brokers, and leading smart logistics platform, Zeek.

The insurtech’s affiliations with the growing transportation and logistics industry continue to drive profitability amid challenges faced by startup companies, Gigacover said in a statement on Tuesday.

“Providing protection for gig workers continues to be the biggest issue that we hope to address with our partners,” said Amerson Lin, Co-Founder and Chief Executive Officer at Gigacover.

“As more economies start to recover from the pandemic, we continue to collaborate with companies like ComfortDelGro Insurance Brokers and Zeek to enable products that improve the protection and welfare of their workers,” he added.

According to the statement, close to 9,000 ComfortDelGro taxi hirers and all Zeek drivers will have personal accident and freelancer earnings protection from Gigacover, enabling them to receive daily payouts amounting to SGD 80 ($56.67) in the event of injuries or illnesses.

The claimable benefits also include hospital income, outpatient medical leave cash benefit, and COVID-19 cash benefit.

“Our collaboration with Gigacover to launch the ComfortDelGro Taxi Prolonged Medical Leave scheme is a step forward in our effort to protect the incomes of our cabbies,

“The welfare of our cabbies is a priority and we are always looking for ways to better support them,” said Clement Chua, Chief Executive Officer, ComfortDelGro Insurance Brokers.

Zeek Singapore Business Head Benjamin Choo said with the increasing demand for quick commerce, the firm needs an insurtech partner that will enable the firm to provide adequate protection for its riders.

“Gigacover helps us fulfill this commitment through flexible products and services that can be tailored to the riders’ current needs,” he added.

In support of these laborers, the Ministry of Manpower (MoM) established The Advisory Committee on Platform Workers in September 2021.

By the end of 2022, the public agency is set to announce a set of recommendations on retirement and housing adequacy, work injury compensation, and bargaining power to improve the welfare of platform workers.

Gigacover, with its long-time mission of protecting gig workers with simple and flexible insurance solutions, aims to support the recommendations to be released by the MoM.

The insurtech has protected over 150,000 gig workers regionally with income protection insurance through its partnerships with over 100+ businesses and organizations, establishing leadership in income and earnings protection.

Gigacover’s Singapore operations reported 25 percent quarter-on-quarter growth in August 2022.

The performance was driven primarily by a stronger demand post-pandemic, improvement of affinity acquisition capabilities and technology, increasing number of aligned partnerships, and growing together with multiple key clients.

The firm’s robust planning and resilient business model have also allowed the company to prepare for the worst.

In the Philippines, Gigacover marked its first year of operations with a 30 percent month-on-month growth.

Its partners include Etiqa Philippines, Mercantile Insurance, and MAPFRE Philippines.

The company also recently introduced parcel insurance products to cover the growing e-commerce segment in the country.

“We are focused on building a sustainable business model as a pioneer company that primarily serves underserved segments and new business models,” said Lin.

“We are proud to say that Gigcover is doing well in both markets and we aim to expand further through new partnerships and new products to keep up with the new challenges faced by our target sectors,” he added.

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