CEBU, Philippines — Insurance firm AXA Philippines has strengthened its support for the country’s growing gig economy by providing gig workers with easier access to health benefits and insurance coverage.
“Ensuring inclusive protection has always been a core part of our mission,” said Ayman Kandil, President and CEO of AXA Philippines.
“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. Through this partnership, we are taking concrete steps to close the protection gap and provide peace of mind to those constantly on the move,” Kandil added.
As the gig economy in the Philippines continues to expand, a growing number of freelancers, ride-hailing drivers, and delivery riders are emerging as key contributors to the country’s evolving labor market.
However, despite their increasing economic contributions, many gig workers remain vulnerable due to the lack of employment security, health benefits, and insurance coverage—a gap AXA Philippines is now working to address.
According to the Philippine Institute for Development Studies, freelance earnings surged by an impressive 208 percent between 2019 and 2020. Yet, for many in this sector, financial protection remains out of reach.
Recognizing this urgent need, AXA Philippines—one of the country’s leading life insurance providers—is spearheading efforts to empower gig workers with affordable and sustainable protection.
Through its global inclusive insurance unit, “AXA EssentiALL,” the company is redefining financial security for the underserved.
Operating across 14 markets and serving more than 14 million customers as of 2023, AXA EssentiALL delivers tailored insurance products designed for individuals often excluded from traditional coverage.
In the Philippines, this global initiative has taken root through a strategic partnership between AXA Philippines, PhilPacific Insurance Brokers & Managers, Inc. (Philinsure), Grab, and MOVE IT.
The collaboration aims to extend up to PHP 1 million in insurance coverage to thousands of ride-hailing and delivery partners—offering critical protection for individuals who risk their safety every day to serve an increasingly digital consumer base.
Philinsure brings its microinsurance expertise to the initiative, supporting AXA’s vision of delivering innovative and accessible insurance solutions that align with the realities of informal and evolving employment models.
For companies like Grab Philippines, the initiative represents more than just corporate support—it’s a commitment to the long-term well-being of their partners.
“Our partners are the backbone of our platform. Supporting their well-being means protecting their future, not just their present livelihoods,” a Grab representative shared.
As work structures continue to shift and the gig economy becomes a permanent fixture in the Philippine labor landscape, initiatives like this mark a pivotal step in promoting welfare and resilience among non-traditional workers.
AXA’s program offers not just protection but recognition—validating gig workers as vital contributors to the economy who deserve financial safeguards, Kandil said.
