How Cachet helped ElectriGo keep pace with the changing face of the platform economy

The Platform Economy is hard to nail down. New ways of sharing and earning are being introduced that reshape old economies.

For regulators, it often seems like they’re trying to attach wheels to a moving car. For platforms, keeping profitable in the face of new regulatory changes is challenging.

Regulators are adapting to these rapid changes by creating new laws. Their aim is to help society thrive alongside this new economy. But for platforms, maintaining profitability amidst regulatory changes requires innovation and adaptability.

In Poland, new regulations required all gig workers who drive, or want to drive, a taxi to have a local driving licence. Posing a big headache for food-delivery platform ElectriGo.

The lifeblood of a platform like ElectriGo are users embracing new models of working. The flexibility of gig work provides them with easy access to temporary work. At Cachet, we know the value of this all too well.

Cachet was born custom built to enable the platform economy lifestyle. As traditional insurance doesn’t fit couriers, delivery drivers, or ride-hailers. It didn’t understand the people and their flexible schedules, use age, or work habits.

So when the regulation changed in Poland, ElectriGo faced a major challenge. How do they keep giving their customers great delivery? How do they keep giving their customers great delivery? In a way that keeps the platform accessible to the diverse and flexible courier base.

As all good innovators do, ElectriGo found a way to roll with the new reality, and thrive. To keep their users onboard and customers served, they swapped four wheels for two. Pivoting their fleet to include more bikes.

But, in the past, changing your fleet was a big hassle. Doing it at the pace ElectriGo needed to keep things running smoothly made it even more complicated. Insurance costs can skyrocket as traditional insurers don’t understand the risk involved. Incomplete knowledge of gig work practice places a massive platform premium on insurance costs.

That’s where Cachet came in. With our technology built for simplicity, speed, and flexibility. We helped ElectriGo get fair coverage fast, so they could adapt their fleet units and keep things running smoothly.

In Poland, ElectriGo secured adaptive coverage in time to pivot their fleet. Thanks to Cachet designing a solution that responded to their reality. But Cachet Mobility also provides the tools to upgrade fleet management all together. Here’s three ways enable bike fleets to thrive across Europe:

Cachet’s approach to adaptive fleet insurance helps reduce risk. Because we build from the platform’s user up, whether you place them on four wheels or two. For ElectriGo, this meant enabling a pivot. Regulation had reshaped what they could do.

Responding to change can be challenging. But when you partner with providers that specialise in your kind of work, the game changes. Cachet dedicates itself to empowering the platform lifestyle.

We offer a guarantee of fair, flexible coverage built around you. There’s no unpredictable and inconsistent insurance pricing. This means you operate without any extra headaches. Because we are as adaptable as platforms need to be to keep profitable in the face of change.