Developing insurance and microinsurance product concepts for youth in the gig economy

• Jul 29, 2025
• 1 min

Under the Youth Livelihoods in Digital Financial Services (YLDFS) initiative, the Mastercard Foundation (MCF) commissioned MSC to explore innovative models for improving financial resilience among youth in the gig economy. MSC partnered with Lynk, a digital platform that connects informal skilled workers to customers, to cocreate sustainable microinsurance product concepts tailored to the needs of young gig workers.

MSC conducted detailed market research to understand the specific needs and risks faced by gig workers on the Lynk platform. The engagement involved co-designing microinsurance concepts—including traditional push models, pull models, and pay-as-you-go solutions—aligned with workers’ irregular incomes and varying risk profiles. We also facilitated partnerships with local insurers to assess operational feasibility and helped structure a pilot-ready product design. Through this collaboration, we supported Lynk in identifying its short-term insurance requirements and co-developing an umbrella Personal Accident (PA) insurance coverage for its active professionals. An agreement was structured to allow for mass coverage, capable of protecting 400+ workers engaged by Lynk in a single day. MSC also introduced experiential learning approaches using digital tools to promote continuous financial literacy among youth workers.

The insurance product developed under this initiative is currently undergoing pilot implementation in partnership with Britam Kenya, with early results expected to inform future insurance models for the informal sector. This work lays the groundwork for scalable, technology- driven insurance solutions that can enhance income security and improve the livelihoods of gig workers across Africa.

Mastercard Foundation commissioned the project.