Introducing GIGI Benefits
Meet GIGI Benefits :
Established in 2019, the Bangalore-based team of ~10 led by co-founder and CEO Sowmya Rao is on a mission to help gig workers establish financial independence by providing “a goal-based savings platform where they can save to meet potential future expenses.”
“We’re redesigning benefits with the needs of the worker in mind: Our benefits combine flexibility, affordability, and resistance to income volatility. Since 2019, we have been working with cab drivers, delivery partners and other gig workers. Today, we are the first in India to launch a simple, monthly, health insurance plan, that mimics an ESI model. This is ideal for households and small businesses to cover their staff.”
The GIGI Membership costs ₹99/year. Policyholders will be required to pay this membership fee upfront, “as a gesture of support to their staff,” and workers must have a smartphone to use this membership, as all benefits associated with the membership are accessible only through the GIGI App. The membership – provided by Religare Health Insurance – covers people up to age 45 for in-patient care (post a 30-day waiting period except for accidents), outpatient expenses of up to Rs. 5,000 for accidents, 30 days pre-hospitalization expenses for health and accidental expenses, 60 days post-hospitalization expenses for health and accidental expenses, and room rent limit of Rs. 2,000/day.
Bottom Line: Targeting the 150 million freelancers and gig workers in India with support from Y Combinator.