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[from left to right]
Gio Tingson, Grab Philippines Head of Public Affairs; Wayne Jacinto, Move It
General Manager; EJ Dela Vega, Grab Philippines Director for Mobility; Sally
O’Hara, AXA Southeast Asia and Korea CEO; Ayman Kandil, AXA Philippines CEO;
Roxanne Agustin, Philinsure Vice President for Client Servicing
The gig economy in the Philippines is rapidly
expanding, with freelancers, ride-hailing drivers, and delivery riders making
substantial contributions to the workforce. However, unlike traditional
employees, many gig workers lack employment security, health benefits, and
insurance coverage, exposing them to financial risks in times of medical
emergencies or accidents.
Despite a 208%
increase in freelance earnings from 2019 to 2020, as noted by the Philippine
Institute for Development Studies, the absence of financial protection remains
a major challenge. Recognizing this gap, AXA Philippines, one of the largest
and fastest growing life insurance companies in the Philippines, is stepping in
to empower gig workers with accessible, relevant, and sustainable protection
solutions.
Addressing the Protection Gap in the Gig
Economy
AXA is committed
to making insurance inclusive and accessible, ensuring underserved communities
have the financial security they need to thrive. Through AXA EssentiALL, its global
inclusive insurance unit, AXA delivers affordable, tailored solutions to those
who traditionally lack coverage. Operating in 14 markets with over 14 million
customers as of 2023, AXA EssentiALL helps communities build financial
resilience against life’s uncertainties.
In the
Philippines, this commitment is taking shape through AXA Philippines’
partnership with PhilPacific Insurance Brokers & Managers, Inc.
(Philinsure), Grab, and MOVE IT—extending critical protection to gig workers, a
sector long excluded from traditional financial safeguards. Through this
initiative, thousands of Grab and MOVE IT drivers and riders will receive up to
PHP 1 million insurance coverage should anything untoward happen to them, under
the companies’ incentive-based program. This ensures these hardworking
individuals can work with confidence and peace of mind, knowing they are
financially protected.
“Ensuring
inclusive protection has always been a core part of our mission. At AXA, we
believe that every worker, regardless of employment status, deserves financial
security and support. Gig workers demonstrate the same dedication, hard work,
and competence as traditional employees, and it’s time they have access to the
protection they deserve,” said Ayman Kandil, AXA Philippines President and
CEO. “Through this partnership with Grab, MOVE IT, and Philinsure, we are
taking concrete steps to close the protection gap for gig workers in the
Philippines, especially drivers and riders who are on the road all day and are
exposed to so many risks.”
Philinsure, a key
partner in the initiative, shares the same vision of financial security for all
by combining their microinsurance expertise with AXA’s innovative insurance
solutions.
Building a Resilient Future for Gig
Workers
For Grab
Philippines, supporting their driver- and delivery-partners’ well-being goes
beyond just providing livelihood opportunities—it’s also about ensuring they
have the right protection.
As the workforce
continues to evolve, insurance solutions must adapt to new employment models. By breaking barriers to insurance access,
AXA reaffirms its commitment to helping gig workers build a stronger, more
resilient financial future.
To learn more about AXA Philippines’ workforce
protection initiatives, visit https://www.axa.com.ph/.
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ABOUT
AXA PHILIPPINES
Established in 1999, AXA Philippines is one of the largest insurance
companies in the country. It offers financial security to close to 2 million
individuals through its group and individual life insurance as well as general
insurance products.
AXA Philippines is one of the first to
introduce bancassurance operations in the country and is among the pioneers in
the investment-linked insurance sector.
AXA Philippines is a joint venture between the AXA Group, headquartered
in France, GT Capital Holdings, Inc. (GT Capital), a leading listed
conglomerate in the Philippines, and Metropolitan Bank and Trust Company
(Metrobank), one of the Philippines’ largest financial institutions. It is duly
recognized by the Insurance Commission and has the following licenses to operate: 2019/37-R and
2019/40-R.
For more information on AXA Philippines
and their products, visit their website at www.axa.com.ph.
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