15 January 2019News

Argo Group subsidiary partners with insurtech to offer pay-as-you-go insurance

Argo Group's European subsidiary ArgoGlobal Assicurazioni has partnered with Italian insurance broker Axieme to provide on-demand insurance for temporary and short-term workers in Italy.

Axieme is connected to Jobby, a digital platform available in Italy for temporary workers. 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.

“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. “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.”

One feature of the platform is its 'social insurance' approach, where part of the premium is reimbursed to policyholders who do not make claims.

Over 4,500 hours of coverage have been provided to some 600 gig workers so far. ArgoGlobal predicts growth in the concept of on-demand insurance.




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More on this story

News
1 December 2023   AM Best plans to meet with Argo Group management to assess company.
News
16 November 2023   Jennifer Snyder succeeds Thomas Bradley as CEO of specialty re/insurer.
News
13 November 2023   Argo suffers $49.5m third quarter loss as GWP plunges.