For the people who work, so that you can WFH (Work from Home)
Delivery workers are the lifeblood of the online economy, which has only gained new prominence under a contagious global pandemic as people hunker down in their homes, avoiding markets for deliveries at home. Today in a time of pandemic like Covid19 they are delivering vital medicines to your vegetable needs to your essential daily needs. To put it starkly, without them, households would starve and the needy would not get vital supplies. These troopers are on the streets every day working 14-hour backbreaking shifts, picking up supplies from dense logistics hubs and making deliveries to offices and homes across the country.
Despite safety awareness modules that most companies have promoted, they are among the most vulnerable to the virus as they are on the frontlines and come in frequent contact with multiple parties. They know this and are doing whatever they can, such as arm themselves with hand sanitizer and masks. But they have little choice in the matter. Not working or working from home is not an option like the rest of us. And they are reconciled to this, taking a straightforward, pragmatic view to get right back to business. “Joh hona hai, ho jayega.” “Agar hum himmat haar jayenge, toh kya hoga?” These are common refrains we hear from these brave souls, who have kept their families under lockdown while they earn their keep.
The reality however is that despite their grit & determination, their financial resilience is questionable as their lives are already on a knife’s edge. An average delivery worker earns around Rs. 15,000–20,000 in a month, in an increasing variable income generated through new digitally-intermediated ‘pay-for-performance’ models. Much of these earnings are accounted for by rent, fuel, mobile bills, and other household & family expenses. Expenses are also volatile and can spike when a family member turns sick or there is unexpected travel. Many of them are migrants and also have loved ones back in villages who they support in these times of ongoing agrarian distress. So, the prospect of falling sick with Covid19 and losing a job is unthinkable. And what is unthinkable cannot be dwelled upon. So life goes on.
Financial protection can go a very long way in assisting these workers, in addition to workplace safety measures that are already being put into place despite the fact that almost 90% of India’s burgeoning 500 million strong workforce is informal. Today, these vital segments are left unserved by traditional financial institutions. Small & affordable credit to pay bills against future salaries and microinsurance cover with simplified claims processes to safeguard against specific eventualities is the place to start. Longer term value in terms of wealth building to attain goals & aspirations as well generate old age security follow naturally.
KarmaLife is building a financial solution that is specifically designed for this segment and its overall wellbeing. Our AI-powered digital line-of-credit solution does not require any physical touchpoint to enable and comes with the option of a COVID-19 resilient insurance cover. So that they can help you WFH without worrying about falling sick financially or physically.