InsurTech company announces pay-as-you-go insurance product for gig economy couriers
Parcel delivery and courier services have always been a fundamental part of our economy, but with the continued growth of eCommerce, demand is booming.
As a result, delivery services must be more flexible than ever, with businesses promising same day, next day, weekend, and bank holiday deliveries – a far cry from the old standard of 3-5 working days.
The gig and share economies have provided an answer to this, with workers deciding their working hours and using their own vehicle. But, while that might sound fine, up until recently, there’s been one big niggle for these couriers – insurance.
Workers were finding that traditional insurance policies didn’t match their flexible working – meaning they had to take out year-long policies, paying for cover even when they weren’t working.
For someone trying to earn some extra income, work three days a week as they wind down towards retirement, or squeeze some work in between university, this wasn’t ideal.
But, InsurTech company, Zego, has announced it’s teaming up with the RSA to launch a pay-as-you-go insurance product that covers part-time delivery and courier services: meaning flexible cover, for flexible workers.
We’re sure there was a collective cheer among them – as they’ll now only have to pay for the cover they need, for the time they work. And, because Zego’s tech cleverly pairs directly with its users’ platforms, workers will be automatically covered when they start work.
When we worked with Zego on this project, it was clear how innovative the company is. It wants to be at the forefront of providing flexible products for its clients, and genuinely understands that there’s no one size fits all. It’s great to see how the industry is responding to, and embracing changes in the way people are working.