Ryde Group expands deal with Singlife on work injury compensation protection

Ryde Group (RYDE) extended it’s strategic partnership with Singlife, “a homegrown financial services company.” Building on the RydeSafe initiative for riders, Ryde has signed a Memorandum of Understanding MOU with Singlife and will be implementing a comprehensive Work Injury Compensation Act WICA Protection Plan for platform workers from January 1, 2025. This collaboration is a significant step in addressing the unique needs of our driver-partners. It provides driver-partners with financial security and peace of mind, ensuring they are protected against potential risks while on the road. Varun Mittal, Head of Innovation and Ecosystem at Singlife said, “At Singlife, we believe in constantly innovating and helping our customers from all walks of life. Workplace insurance benefits are continuously evolving to cater to the dynamic work environment. Our partnership with Ryde demonstrates our commitment, as a homegrown financial services company, to support our local community. This collaboration marks a key milestone for us in our pursuit to drive financial inclusion for Singapore’s gig ecosystem. Through the provision of innovative solutions, including addressing the unique needs of platform workers, we can help boost their financial security and give them a peace of mind.”