Compass offers gig economy accident cover with Bikmo

Compass Underwriting, a specialist underwriting agency in the accident and health (A&H) market, has partnered with specialist bike insurer Bikmo to provide an accident and injury insurance product for self-employed couriers working in the gig economy.

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.

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 online claims reporting and cross-referencing with GPS and earnings data.

“For too long now gig economy workers have not been able to access tailor-made protection cover,” said Andrew Briant, managing director at Compass Underwriting. “Compass, working closely with Bikmo and our Lloyd’s capacity have provided a solution," Briant added.

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.”

Get all the latest re/insurance industry news with our daily newsletter -  sign up here.

More of today's news

AIG CEO optimistic about reaching underwriting profit in 2018

Berkshire reinsurance swings to profit in Q2

DSA Re deal paves way for AIG legacy divestment

MSIG partners with insurtech Plug and Play

Insurtech wefox launches in Italy, partners with broker

Don't miss our insurtech email newsletter - sign up today