The new product offers benefits to help consumers fulfil their financial obligations including rent, car loans and groceries on being unable to work owing to sickness or injury.
It also gives customers the option to use the benefits as per their requirements.
Besides, gig economy platforms and digital brokers, utilising application programming interface (API) integration, can embed Blink Paycheck directly into their digital environment.
Presently rolled out in 37 states, the new proposition offers benefits of over $2,500 a month if an individual is unable to work and is under medication.
Blink by Chubb senior vice president and head Leslie Marshall said: “The nature of work shifted dramatically during the pandemic, with significant growth of the gig economy and many freelancers working without employer-sponsored benefits.
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“Blink Paycheck can provide gig marketplaces with a much-needed income protection safety net for their providers and independent workers in the event they are sick or hurt and can’t work.”
Blink Paycheck is underwritten by Combined Insurance Company of America, a Chubb company.
Comprising a suite of Chubb-backed consumer insurance offerings, Blink helps a company’s affinity and digital broker partners improve their products and services.
Earlier this year, Hippo unit First Connect Insurance Services partnered with Blink by Chubb to provide personal cyber insurance protection to independent agents participating in First Connect’s insurtech marketplace platform.