AXA Philippines partners with Grab, MOVE IT on gig insurance

The gig workers are eligible for up to ₱1m of insurance coverage.

AXA Philippines said it aims to fill the gig economy’s protection gap through its global inclusive insurance unit, AXA EssentiALL. 

Operating in 14 markets with over 14 million customers as of 2023, AXA EssentiALL offers affordable and tailored insurance products for underserved groups.

In the Philippines, AXA has partnered with PhilPacific Insurance Brokers & Managers, Inc. (Philinsure), Grab, and MOVE IT to provide insurance coverage for gig workers. 

Under the programme, thousands of Grab and MOVE IT drivers and riders will be eligible for up to $17k (₱1m) in insurance coverage, depending on their performance within the platforms’ incentive-based schemes.

AXA Philippines President and CEO Ayman Kandil said the initiative is part of their effort to ensure all workers, regardless of employment status, have access to financial security.

Philinsure, which specialises in microinsurance, will support the effort by leveraging its expertise to deliver appropriate protection.

($1.00 = ₱57.18)