Bimaplan, a Y Combinator-backed insurtech startup has recently announced a partnership with Niyo Bharat, to provide contractual factory workers with vital microinsurance protection plans. Bimaplan and Niyo Bharat’s partnership will provide financial inclusion to non-permanent factory workers earning less than 20K a month.

India has close to 4.45 Million contractual workers. Due to the short-term nature of their employment, they receive minimal benefits from their employers or support from the government.