KUALA LUMPUR, July 21 – foodpanda Malaysia and PolicyStreet strengthen their ongoing partnership with the introduction of an all new insurance scheme for vendor partners and increased protection and welfare of foodpanda delivery partners. This valuable coalition was first announced in 2020 with positive results for delivery partners, spurring the initiative and drive to extend the partnership further with this new offering for vendors.
This news will be music to the ears of both foodpanda delivery partners and vendors. Kelvin Chan, Operations Director, foodpanda Malaysia was thrilled when commenting on the announcement, Our relationship with PolicyStreet has been a valuable one and we have been working hand in hand over the years to provide the best for our delivery partners, especially given the crucial role that they play in our ecosystem. PolicyStreet has always been aligned with us in terms of our commitment in providing a safe and secure environment for delivery partners hence why we have now decided to extend this offering to vendors, ensuring they too are able to operate with ease of mind.
Moving forward, we will continue to work together to introduce more benefits for all. PolicyStreet, a leading insurance technology company and a licensed Reinsurance and General Insurance company have helped over 500,000 people with their insurance needs. “The desire to help individuals plan ahead and improve the value of their lives is what keeps us grounded. We have always strived to provide the best protection for all delivery partners, which has been clearly demonstrated through our partnership with foodpanda over the years.
Now, we are even more pleased to be able to continue and improve this partnership by providing insurance coverage for foodpanda vendors as well. The lives we are impacting positively through this partnership is why we choose to do this everyday,” said Yen Ming, Chief Executive Officer of PolicyStreet. Taking note of the many unforeseen difficulties vendors may face, foodpanda has decided to offer substantial protection for vendors in the firing line.
Pursuant to that, 9 different in-depth insurance categories will be included in the protection plan. These include fire, burglary, public liability, money, plate glass, signboard, signage, fidelity guarantee and group personal accidents. In line with group personal accidents, up to 12 staff members can be covered upon registration from their employers. In terms of delivery partners, this renewed insurance scheme assures that their next of kin will be cared for financially with a total of RM100,000 in the event of an untimely demise and RM7,500 if it is due to Covid-19.
In the case of permanent disablement, foodpanda delivery partners will be compensated up to RM100,000. These measures have been implemented in order to ease what could be a tough bereavement period and ensure delivery partners are worry free when going about their jobs. Adding on to that, if a foodpanda delivery partner tests positive for Covid-19, they will be provided with RM300 to help lessen the loss of income they may face due to quarantine.
Furthermore, in an effort to alleviate the burden of delivery partners, medical expenses up to RM3,000 can be claimed, in addition to a hospital income of RM50 daily for a maximum of 30 days. All in all, the annual premium per delivery partner would cost just RM37.50 per annum. In an ever evolving world, Malaysian citizens view foodpanda delivery partners and vendors as crucial members of society, working tirelessly to prepare food and having them delivered to doorsteps with just a few taps.
foodpanda too shares that sentiment as delivery partners and vendors are deemed as the backbone of the company. All parties would be pleased an agreement has been reached, ensuring better and more improved protection for all delivery partners and vendors. To guarantee a smooth and effective process, those considered eligible are urged to have all relevant and necessary documents for insurance claims.