Policy & Pricing
Tiered event coverage with affordability-first weekly premium calculation and parametric payout rules.
One Plan: Delivery Partner Income Shield
Aegis enrollment is structured for gig workers:
- Enrollment window: 2 months
- Premium cadence: weekly
- Premium collection: UPI AutoPay (e-mandate), independent of the delivery platform
Weekly Premium Identity (Affordability-first)
Aegis models weekly premium using a compact actuarial identity:
Pr_final = (Ew * alpha) * Lf * Ct * (1 + M)
Where:
Ew: rolling 4-week average earnings baselinealpha: affordable risk fraction (microinsurance benchmark), default0.015Lf: composite loss fraction for the rider's H3 zone and current weekCt: coverage tier factor (Basic/Standard/Premium)M: sustainability margin for risk pool stability
Composite Loss Fraction
Lf = 1 - Π(i=1..n) [ 1 - Pi * Si ]
Aegis treats disruption probabilities and severities as a composite trigger, not independent events—so correlated risks (e.g., rain + waterlogging) are handled at the model level.
Tier Coverage
| Tier | Covered Events | Rider segment |
|---|---|---|
| Basic | severe weather events (rain, flood, extreme heat) | essential protection |
| Standard | Basic + AQI events | full-time metro workers |
| Premium | Standard + government-declared disruptions | high-risk zones / high-earnings weeks |
Coverage Matrix (tier mapping)
| Disruption | Category | Basic | Standard | Premium |
|---|---|---|---|---|
| Heavy Rain (>60mm) | Environmental | ✅ | ✅ | ✅ |
| Flood / Zone inundation | Environmental | ✅ | ✅ | ✅ |
| Extreme Heat / Heatwave | Environmental | ✅ | ✅ | ✅ |
| Hazardous AQI (>300) | Environmental | ❌ | ✅ | ✅ |
| Severe AQI (200–300) | Environmental | ❌ | ✅ | ✅ |
| Bandh / Strike | Social | ❌ | ❌ | ✅ |
| Curfew / Local protest | Social | ❌ | ❌ | ✅ |
| Platform-declared zone halt | Social | ❌ | ❌ | ✅ |
Premium Guardrails (Floor + Ceiling)
UPI AutoPay uses an enforcement cap:
- ceiling:
INR 150/week - floor:
INR 15/week
To avoid unfairly charging part-timers the flat floor, Aegis uses dynamic coverage scaling:
If raw premium is below the floor, Ct increases so the rider still pays INR 15/week but receives higher effective payout coverage.
What Is Not Covered
- vehicle repair
- fuel costs
- device damage
- personal illness
- platform-side cancellation without a qualifying trigger event