upcover Qorus Innovation in Insurance Awards 2020 - Winner

upcover is bourne out of a desire to transform insurance by empowering small businesses to better protect themselves. We are focussed on the fastest growing workforce in the world, often termed the contingent workforce or the ‘gig economy’. We are building a mobile app where workers can buy pay-as-you-go insurance & benefits to ensure they can get the right cover for all their work, they can save money by only paying for when they work, and finally they can build that safety net to save up for time off. We have adopted a HCD lens to understand this problem and have conducted more than 1200 outreaches and interviews. What identified three core issues: insurance is not fit for purpose, It is also expensive, and finally these workers have a limited safety net. As we are focussed on the Asia Pacific, the closest near term competitor’s would be overseas - would be Collective Benefits (UK), Inshur (US) and Zego (UK). Locally, there are a number of competitors however none provide a holistic product and pay-as-you-go offering. We have adopted the incredible UX from many insurtech, as well as been inspired by Trov and Friendsurance. Ultimately, our real inspiration comes from the workers we interact with daily. As an insurtech, this is our core business. We have secured our insurance partner, an Australian underwriter backed by Lloyd’s and will be launching our product in June 2020, in a pilot to more than 500 delivery riders in Sydney, Australia.