Gig economy jobs are advantageous for BFSI sector

Reported by: |Updated: October 31, 2019

Gig economy job trends are allowing BFSI companies to tap into the people’s expertise till the time it is the most valuable for the company and the employees as well. A report in Banking Frontiers says these jobs are beneficial for the employees as they can work on multiple projects that require their value addition and with different companies. Amrit Jaidka Arora, head of human resources at Digit Insurance, says the company has hired freelance employees to assist in product development. For example, it has taken health experts in the development of health products. It has also hired investigators to assist in theft investigation on contractual basis. The company has introduced Digit Undergraduate Training Program (DUGTP), under which it hires undergraduates, who have just finished their schooling and are looking for options, train them to take up assignments where they can learn and earn along with their part-time graduation.

Dhruv Sarin COO, Policybazar, reveals his company has 11,000 employees, of which 9500 are working in the company’s contact center. The remaining are in technology, marketing and corporate departments. The company offers work-from-home facility for its policy advisors in which they work for 5 hours in a day.



Amit Malik, chief people, operations & customer services officer, Aviva Life Insurance, says since insurance companies require people with underwriting skills and his company often hires specialists for short term when business volumes see an upward trend. Another skill that is often sourced for the short-term requirements, according to him, is system UAT/ development. As business models evolve and business environments become more uncertain, he says, more organizations will use gig workers, especially for niche skills.

According to Puneet Khurana, head of Human Resources at, gig economy jobs have definite advantages. Employers can hire a diverse pool of flexible workforce for specific projects, says he, adding as freelancers have the flexibility to work anywhere remotely, organizations can carry on working round the clock in different time zones, which is often not possible in case of full-time employees.

FCBA Features Image

FCBA Features Image