Ease of doing business for MSMEs: Reliance General Insurance, the private general insurance company on Tuesday said it has partnered with food delivery company Swiggy to provide tailored health insurance along with personal accident and mobile phone insurance coverage to its 3 lakh delivery partners. The insurance protection will be offered through the insurance brokerage firm Gallagher Insurance Brokers.
The benefits include Group Mediclaim policy under which Swiggy’s delivery partners can avail OPD treatment, medical hospitalization, maternity cover, etc., as per the eligibility criteria of the master policy. Likewise, under the Group Personal Accident policy, the delivery partners will be covered in the unfortunate event of accidental death and accidental permanent partial disablement. Moreover, in the case of accidental temporary total disablement, the insured partner will receive a loss of pay benefit during recovery.
Anand Singhi, Chief Distribution Officer, Reliance General Insurance said in a statement that the delivery partners represent India’s fast-growing gig economy. “We jointly recognized the need for a robust insurance product for the gig workers and developed just that together. Our insurance coverage ensures gig workers’ financial protection and increases their propensity to avail timely healthcare. This will further help pave the way for a healthier population that is vital to our country’s long-term prosperity.”
Reliance Capital’s subsidiary Reliance General Insurance offers insurance products around motor, health, travel, and home verticals with a network of over 8,500 hospitals and caters to retail, corporates, and SME clients.
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Swiggy was one of the first platforms to offer a well-rounded insurance product spanning accident and hospitalization, Covid and other illnesses, maternity cover, paid recovery time-off, and mobile insurance to name a few. To continue these industry-best benefits, we have now partnered with Reliance General Insurance so our partners know that Swiggy will always have their backs,” said Kedar Gokhale, VP of Operations, Swiggy in the statement.
Insurance coverage for gig workers assumes significance with the growth in the overall gig economy of the country. According to the NITI Aayog’s report name year, the Indian gig economy had 77 lakh workers in 2020-21 which are expected to expand to 2.35 crores by 2029-30. In 2020-21, about 47 per cent of the gig work was in medium-skilled jobs, about 22 per cent in high skilled, and about 31 per cent in low-skilled jobs.