Riskcovry partners Taskmo to provide insurance facilities
1 min read . Updated: 25 May 2022, 02:47 PM IST
Premium- Founded in 2018, Riskcovry uses the insurance-in-a-box model to create a one-stop-shop platform and cater to businesses' digital insurance needs. The startup has partnered with over 50 clients and offers product diversity
NEW DELHI: Insurtech startup Riskcovry has partnered B2B gig marketplace Taskmo to provide their blue-collared workforce with per-day insurance facilities. Using digital infrastructure to embed insurance through APIs, Riskcovry will offer Taskmo workforce accidental insurance on a switch-on/off usage-based coverage. This insurance facility covers workers during the duration of their work hours. Insurance is automatically activated for the relevant workforce once a worker logs into the app and is active throughout the duration of work. The cover is automatically deactivated when the worker logs off from day’s work, said the firm.
Taskmo has been significantly working towards connecting gig economy workers with businesses that need a workforce for various reasons. Using Riskcovry’s platform, Taskmo will provide complimentary insurance as a value-added service to all of its workers. The insurance covers accidental death, opd, hospitalisation, permanent total disability arising from accidents, and ambulance services for a sum insured of ₹2 lakh.
Asif CH, CTO, Riskcovry, said, “The Taskmo use case is a great example of embedded insurance provided as a value-added service to their users. Our API-first tech stack allows our distribution partners to launch new embedded insurance use cases in a matter of days."
The gig economy is projected to grow at a CAGR of 17% and is likely to hit a gross volume of $455 billion by 2023. Against this backdrop, there is an increasing need for companies to increasingly focus on offering essential services such as health and insurance benefits. Till March, 64,424 Taskmo workers have been insured under the per-day insurance policy initiated through the partnership.
“Riskcovry’s API integration has delivered seamless and secure insurance to all our taskers. The ease of insurance enablement using Riskcovry’s platform has ensured 100% satisfaction to all our taskers through this integration", says Prashant Janadri, Co-Founder, Taskmo.
Founded in 2018, Riskcovry uses the insurance-in-a-box model to create a one-stop-shop platform and cater to businesses' digital insurance needs. The startup has partnered with over 50 clients and offers product diversity, innovation, and flexibility with 75+ off-the-shelf insurance products across life, general, and health segments, said the firm.
