4 Important Things to Remember When Selecting Insurance Policies for Frontline Workers

The gig economy is flourishing in India, with a potential to add over 1.25% to the country’s GDP in the long term. Traditional notions of work and workplaces have been changed with the advent of the platform economy.

These technology platforms have offered a degree of formalisation and transparency in labour demand and supply. They are delivering on-demand services at scale and creating jobs. However, there are questions about worker protection and minimum wage requirements in this sector.

In today’s tight labour market, any company that wishes to hire and retain skilled workers have to provide compelling benefits. By providing insurance policies for frontline workers, companies ensure a well-protected worker community that does its best to forward their goals and visions.

However, insurance is a complicated matter, and a typical administration department doesn’t have the expertise to steer discussions with insurers on what it takes to assure insurance policies for frontline workers.

Here are a few things that businesses need to seek out when searching for the best benefits for their workers.

1. Flexible and Affordable Coverage for Blue Collar Workers

Frontline workers are vulnerable and often exposed to dangerous work environments. For instance, a construction worker might get injured due to falling objects, or someone who delivers food on a bike might meet with an accident. In such cases, the families bear the impact of income loss. They might face many costs ranging from hospitalisation, transportation, etc.

Companies need to seek proper coverage in insurance policies for frontline workers. While life insurance, workmen’s compensation, health insurance, and accidental coverage are some necessities, it is important to offer workers the option to customise policies.

For instance, delivery personnel might need rider liability insurance to protect themselves from any damage caused to third-party during the job. All these benefits should be available within the company’s budget. The insurance company must be willing to offer insurance policies for frontline workers at negotiated rates.

2. Digital Onboarding and Claims Process

A large percentage of the workforce may be young digital natives. India is home to the largest millennial, and Gen Z workforce globally. An online enrolment and claim processing option will elevate the employee experience.

Further, businesses must be able to integrate existing systems and processes to simplify the complex insurance processes. In the long run, this can optimise operational overheads. Businesses will not have to hire additional manpower to oversee the benefits program of a huge distributed workforce.

3. 24/7 Claims Support

Many blue-collar workers in India are unaware of insurance processes. The language barrier further makes it difficult for them to understand things. It’s vital to choose an insurer willing to handhold workers 24/7 when they are facing emergencies.

A tedious manual claims process will defeat the purpose of the benefits program. Workers will hesitate to make claims, leading to a decline in ROI for the company.

Apart from ensuring a smooth claims process; businesses could also look for a dedicated app that educates employees about various types of insurance policies.

4. Full Set of Reporting Tools

The insurer needs to provide a full set of reporting tools for businesses to track customer satisfaction. Is the insurance policy for workers helping them? And, do workers have a great employee experience?

Companies need to have a 360-degree view over benefit utilisation, for which they require an end-to-end technology solution.

Moreover, this platform needs to be scalable as the business grows. Can the insurer handle an increase in workers? Companies need to look at how they are represented in each market they expand to.

Companies with embedded insurance policies for frontline workers have a competitive edge in the talent market today. Betterplace is the right platform to integrate insurance into your blue-collar workforce strategy. Contact us today.