ArgoGlobal Assicurazioni S.p.A uses Insurtech to provide Italian Gig Workers with On-demand Insurance
ArgoGlobal Assicurazioni S.p.A, member of Argo Group International Holdings, Ltd. (NYSE: ARGO), an international underwriter of specialty insurance and reinsurance, is working with Axieme, a specialised broker connected to Jobby, one of Italy’s most innovative digital platforms, to respond to a need for on-demand, pay-as-you-go insurance for temporary and short-term workers in Italy.
“The growth of the gig economy has created a shifting and unpredictable employment environment in which workers lack the traditional protections supplied by employers against unexpected events such as sickness, injury and civil liability,” said Mario Borrelli, underwriting director of ArgoGlobal Assicurazioni S.p.A. “Our innovative collaboration with Jobby and Axieme, which relies on cutting-edge digital technology, offers gig-economy workers across Italy with steadfast, trustworthy insurance coverage combined with pay-as-you-go convenience.”
Users can activate their insurance via the Jobby platform when they accept a job. Their policies are then live for the term of their assignments, protecting workers while in service. Cover also can be extended if their work goes on for longer.
A notable feature of this model is the “social insurance” approach. Based on the principle of reward, part of the premium is reimbursed to policyholders who do not make claims, which empowers and encourages the insured to adopt more prudent attitudes.
To date, more than 4,500 hours of coverage have been provided to some 600 gig workers. ArgoGlobal Assicurazioni S.p.A predicts growth in the concept of insurance based on immediacy and flexibility.
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ABOUT ARGOGLOBAL ASSICURAZIONI S.p.A.
ArgoGlobal Assicurazioni S.p.A. is a specialty underwriter of property, marine, accident & health and liability insurance in the European market. Market-leading expertise, an innovative approach and focus on its customers, together with the substantial resources, financial strength and international scope of the Argo Group, support ArgoGlobal Assicurazioni’s position as a leading player in the Italian market. For more information, visit www.argo-global.it.
ABOUT ARGO GROUP INTERNATIONAL HOLDINGS, LTD.
Argo Group International Holdings, Ltd. (NYSE: ARGO) is an international underwriter of specialty insurance and reinsurance products in the property and casualty market. Argo Group offers a full line of products and services designed to meet the unique coverage and claims handling needs of businesses in two primary segments: U.S. Operations and International Operations. Argo Group’s insurance subsidiaries are A.M. Best-rated ‘A’ (Excellent) (third highest rating out of 16 rating classifications) with a stable outlook, and Argo Group’s U.S. insurance subsidiaries are Standard and Poor’s-rated ‘A-‘ (Strong) with a positive outlook. More information on Argo Group and its subsidiaries is available at www.argolimited.com.
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