Tokio Marine Insurans (Malaysia) Berhad (Tokio Marine) has partnered with e-commerce logistic provider KirimMan and fintech Finology to launch a new insurance product designed to provide affordable protection for gig economy workers.
The move comes as e-commerce in Southeast Asia is expected to hit US$300 billion by 2025, with the gig economy playing a vital role in its growth. The product, priced as low as RM1 per day (US 22c), covers accidental death or permanent disablement, medical expenses due to accidents, and ambulance fees. The protection applies throughout the day and is not limited to delivery trips.
Ng Hang Ming, Chief Executive Officer at Tokio Marine, said the new product reflects the company’s commitment to providing affordable insurance solutions to Malaysians regardless of occupation or income level. “We believe that everyone deserves access to quality insurance protection, and we’re proud to partner with KirimMan and Finology to offer affordable insurance to gig workers,” said Ng.
