Blink by Chubb has launched Blink Paycheck, an income protection insurance product to help keep customers’ lives on track when they are unable to work.
Chubb is a publicly traded property and casualty insurer.
Blink is a suite of Chubb-backed consumer insurance products that the company’s affinity and digital broker partners offer to their customers.
According to Blink, its market research found that for many self-employed workers, insurance isn’t just about protecting themselves, it’s also about providing for their family. Blink Paycheck provides freelancers and gig workers with peace of mind that they’ll have benefits that can be used to continue to meet their financial responsibilities such as rent, car loans and monthly groceries if they are unable to work because of sickness or injury. One of the main benefits of income protection is the customer is in charge of how they spend their benefit.
Currently available in 37 states, Blink Paycheck provides benefits of up to $2,500 per month if a person cannot work due to an injury or illness and is under a doctor’s care.
Through the use of application programming interface (API) integration, gig economy platforms, affinity partners and digital brokers can quickly and easily embed Blink Paycheck income protection as well as Blink Cyber directly into their digital environment.
Leslie Marshall, senior vice president, head of Blink by Chubb, said, “The nature of work shifted dramatically during the pandemic, with significant growth of the gig economy and many freelancers working without employer-sponsored benefits.
“Blink Paycheck can provide gig marketplaces with a much-needed income protection safety net for their providers and independent workers in the event they are sick or hurt and can’t work.”
Earlier this year, Moves, an all-in-one banking app for gig workers, closed its seed funding round on $5m.
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