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On-demand Insurance Products Designed for Millennials and the Gig Economy Workers

On-demand  Insurance Products  Designed for Millennials  and the Gig Economy  Workers

Business Challenge

Recognizing the insurance demand for millennials and gig economy workers, our client wanted to roll out insurance products in a short timeframe. The insurance products had to address unique work arrangements of these gig workers. It is a mandatory requirement to purchase three separate insurance policies-general liability, professional liability, and workers' compensation. These gig workers often face a substantial insurance gap. Their employers' insurance policies typically fall short in providing the coverage they require, leaving them

Coforge Solution

Coforge partnered with SWINZ to develop InsurNode, a proprietary cloud-based blockchain insurance policy administration system designed to support the gig economy. InsurNode offers an accessible insurance solution to facilitate short-term policy purchases with monthly renewals.

InsurNode enabled various stakeholders to operate securely. Its design was centered around "pay-per-use" or "on-demand" insurance, eliminating complex underwriting with an option to swap selected risks, and product selection before KYC.


  • Streamlined the insurance buying experience leading to high customer satisfaction.
  • Comprehensive range of insurance coverage under a single, user-friendly platform.
  • Blockchain technology enabled smart contracts reducing the risk of fraudulent claims while automating claims and payout processes.

Key Highlights

InsurNode was developed by Coforge and SWINZ on a Hyperledger fabric as blockchain platform for managing covers, validating product template and policy purchase. It delivered a seamless experience and focused on simple, on-demand non-life insurance products required for the gig economy.

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