Insurtech PolicyStreet Teams Up with Kiddocare, an On-Demand Care Services Platform in Malaysia

Gig workers in Malaysia constitute over a quarter of the country’s workforce, with nearly two million of them being women, accounting for 46% of all gig workers.

Acknowledging the gig workers’ contributions this Labor Day, PolicyStreet is partnering with Kiddocare, a Khazanah-backed on-demand care services platform, to introduce Kiddocarer Protect+.

Kiddocarer Protect+ is an on-the-job insurance “that covers Kiddocarers, the organisation’s babysitters, during travel to and at the job location, ensuring protection throughout their work.”

The collaboration underscores their commitment “to bolstering the financial resilience of gig workers, particularly women, who, though underrepresented, form a significant portion of the gig economy.”

The insurance coverage includes Malaysia’s first professional indemnity insurance for babysitters, “ensuring the highest standard of care for children under Kiddocare’s supervision.”

The professional indemnity benefit “provides coverage of up to RM1 million for unintentional bodily injury or property damage resulting from negligence or breach of duty.”

This feature not only enhances “the safety and trustworthiness of Kiddocare’s services for parents but also provides essential protection for Kiddocarers.”

Yen Ming Lee, Co-founder and Group Chief Executive Officer of PolicyStreet said:

“Our collaboration with Kiddocare underscores our commitment to serving the underserved by empowering gig workers, particularly women, to become more financially resilient. We are proud to support Kiddocare’s mission, which aligns with our dedication to ensuring financial security for all. Offering professional indemnity insurance to Kiddocarers is a testament to our commitment to instilling confidence in essential gig workers who play a crucial role in driving the Malaysian economy forward.” 

In addition to professional indemnity coverage, “the on-the-job protection plan includes coverage for accidental permanent disability, second and third-degree burns, and damages to Kiddocarers’ mobile phones.”

The Kiddocarers’ next of kin are also “entitled to a Dependent Child Supplement in the event of accidental death while on the job, with RM1,000 distributed for each child the Kiddocarer has, up to RM3,000 per family to ensure comprehensive financial security for Kiddocarers.”

Kiddocare Founder and Chief Executive Officer, Nadira Yusoff stated:

“We are very thrilled about this partnership with PolicyStreet. In line with our broader initiative to professionalise care as a career, it is important to highlight that Kiddocare takes pride in its comprehensive approach, which includes providing Kiddocarers with essential training and certification, along with offering robust financial safety nets like Kiddocarer Protect+. These measures ensure that our caregivers are equipped with the skills, knowledge, and support needed to provide exceptional care. This commitment reflects our dedication to elevating caregiving as a respected and appealing career choice in the sharing economy and helping boost economic growth for women.”

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