Vahan.ai to launch micro insurance, lending for gig workers, says founder Madhav Krishna

“So, there is a lot of potential there. It is a new product that we will be selling, and it will generate revenue for us as a company. We are actively working on some of these products. We will be able to launch in the next three to six months,” he said.

Madhav said gig workers face high incidence of financial emergencies in life. “Let me share data with you. Gig workers face, on an average, six financial emergencies in a year. This is about one every two months. This is a very high rate. And, the most common one is family health related and accidents. And the gig workers are not insured and they do not have savings to spend on hospital bills. They end up borrowing from loan sharks,” he said.