Borzo, Symbo tie up to provide insurance to over 50,000 delivery partners

The firms are also exploring in-app integration of insurance services for faster, seamless and paper-less processes

Borzo (erstwhile WeFast), a global intra-city courier delivery service, has partnered with Symbo India Insurance Broking to provide medical insurance benefits to all its 50,000 delivery partners. Borzo delivery partners will have easy access to Symbo's comprehensive health insurance plans that address wellness and finances.

The partnership will allow Symbo to grow its B2B footprint, reaching a network of gig delivery workers pegged at about 7.7 million and expected to grow to 23.5 million by 2029-30. Symbo is an Irdai-registered brokerage and insurance firm that allows customers to buy plans from their favourite brands, apps and digital insurers.

Delivery partners can claim health insurance simply by providing their Borzo ID, and Symbo will identify the lowest premium options for delivery partners. The companies are also exploring in-app integration of insurance services for a faster, seamless and paperless process.

Citing the lack of information and access towards health funds, Saurabh Parmar, Head of Operations, Borzo, India, said, “Large number of Gig Delivery partners are not aware of health-policies and also have limited access to health-funds. Hence, we have taken the initiative to partner with Symbo and facilitate health-insurance benefits for all the current and future partners on our platform.”