Tokio Marine Insurans (Malaysia) has partnered with KirimMan, an e-commerce fulfillment logistic solution provider and courier service, and Malaysian fintech Finology to offer affordable insurance products for gig economy workers with a focus on delivery riders.
One of the new products, which is priced as low as RM1 per day, offers gig workers affordable protection against accidents while on the job.
It covers accidental death or permanent disablement, medical expenses due to accidents, and ambulance fees. The protection is enforced throughout the day, not limited to delivery trips.
The collaboration has also churned out the Goods in Transit insurance that offers logistics providers affordable coverage for goods in transit. With rates as low as RM2 per parcel, the product provides sum insured coverage that is higher than other logistic providers.
The Personal Accident for Rider and Goods in Transit insurance products are available now for KirimMan customers.
Ng Hang Ming, Chief Executive Officer at Tokio Marine said,
“We believe that everyone deserves access to quality insurance protection, and we’re proud to partner with KirimMan and Finology to offer affordable insurance to gig workers.”
Robin Ang, Group CEO and Co-founder of Finology said,
“Our mission at Finology is to simplify insurance and make it more accessible to everyone. By leveraging our technology and expertise, we are dedicated to enabling embedded insurance solutions for our partners.
By partnering with Tokio Marine and KirimMan, we’re able to enable an affordable insurance product that’s easy to understand and easy to purchase.”
