06 Aug Compass Underwriting partners with Bikmo to offer comprehensive personal accident cover for the gig economy
Compass Underwriting, a leading specialist underwriting agency in the A&H market, has partnered with specialist intermediary Bikmo to provide an accident and injury insurance product for self-employed couriers working in the gig-economy.
Designed for gig-economy platforms to cover all their self-employed contractors on a group basis, the tailored cover allows companies such as Bikmo’s client Deliveroo to ensure their couriers receive a similar level of cover to full-time employees.
The insured will have access to the product, allowing for online claims reporting and cross-referencing with GPS and earnings data to allow self-employed workers to receive prompt and efficient support in the event of an injury.
The cover will provide lump sum payments of up to £50,000 and includes cover for loss of income from injury, in-patient support, cover for assault, and emergency dental repairs.
Andrew Briant, Managing Director at Compass Underwriting, said: “For too long now gig-economy workers have not been able to access tailor-made protection cover. Compass, working closely with Bikmo and our Lloyd’s capacity have provided a solution. It is a major step forward, and we’re delighted to be working in partnership with Bikmo to ensure these workers have access to this innovative and essential cover.”
Rob Grisdale, Head of Partnerships at Bikmo, said: ‘We worked with Compass to together provide a bespoke accident cover solution for a large client in the fast-paced gig-economy industry. We chose Compass because they have great access to flexible underwriters, can react quicker than others, and their ability to manage the claims processes. Together we developed the policy to fit the exact requirements and budget of the client. We are very pleased with their service and proven expertise in this market.”