Insurance for On-Demand Food

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Overview

Food delivery has transformed into one of the most competitive industries with the likes of start-ups, restaurants, and grocers all vying for a piece of the pie. In less than 5 years the percentage of online food delivery orders has doubled (Gloria Food). Those who succeed in the space will need to solve the complex challenge of how to insure themselves when rushing food to a demanding customer base.

Part of the task is speed: 44% of people are likely to order food for delivery more often if restaurants could offer them faster delivery times (Gloria Food). The blueprint for success in food delivery involves deciding whether to own or outsource the fleet of delivery vehicles and which mode of transport to use (i.e. car, bike, scooter).

Other considerations include, how will each delivery be tracked and what procedures will be used to screen the food couriers. This is some of the key information that will be required from underwriters to develop a scalable insurance policy. See below for more on applicable insurance coverages and recommendations for On-Demand Food delivery companies.

Revenue lost to fraud

3.5

tn

Companies worldwide lose $3.5 trillion to fraudsters every year — and the figures continue to devastate small and large businesses.

Data Breach Costs

$4

m

The average total cost of a data breach in 2020 was $3.86 million and the average cost per individual record that was lost was $150 (IBM).

Why is Insurance for On-Demand Food Organizations Important?

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When sensitive information is data is copied, transmitted, viewed, stolen or used by an individual unauthorized to do so. The Equifax Breach in 2017 that leaked 145.5m customers accounts (including social security numbers) was due to a server security patch that was not implemented.

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When sensitive information is data is copied, transmitted, viewed, stolen or used by an individual unauthorized to do so. The Equifax Breach in 2017 that leaked 145.5m customers accounts (including social security numbers) was due to a server security patch that was not implemented.

On-Demand Insurance Frequently Asked Questions

Types of On-Demand Companies that need insurance

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How it works

Finding insurance coverage doesn’t have to be painful. We aim to make the purchasing experience as streamlined & intuitive as possible.

1
Get a quote

Use our custom built online portal to get quotes fast. We automate clerical tasks that plague the traditional insurance brokerages, giving us more time to be responsive and alert to your company’s needs.

1
Get a quote

Use our custom built online portal to get quotes fast. We automate clerical tasks that plague the traditional insurance brokerages, giving us more time to be responsive and alert to your company’s needs.

2
Pair with a specialist

No two organizations are the same. Our team of coverage experts partners with your team to engineer your risk management strategy, together. We take the time to understand the intricacies of your company to get you the best possible coverage.

2
Pair with a specialist

No two organizations are the same. Our team of coverage experts partners with your team to engineer your risk management strategy, together. We take the time to understand the intricacies of your company to get you the best possible coverage.

3
Stay one step ahead

To do better, you need to know better. With changing political, technological, legal and economic landscapes, staying ahead of the curve is critical.

Our in-house team is tapped into the latest developments of your industry, proactively ensuring you’re covered.

3
Stay one step ahead

To do better, you need to know better. With changing political, technological, legal and economic landscapes, staying ahead of the curve is critical.

Our in-house team is tapped into the latest developments of your industry, proactively ensuring you’re covered.

John Olson, Assistant Vice President, Customer Success

Meet your specialist

Prior to joining Founder Shield in 2018, John worked as a Broker in the Reinsurance space, facilitating global coverage for multinational insurance carriers.  Since then, John has helped to build out and maintain the insurance programs for some of Founder Shield’s largest clients in the Auto and Gig Economy space, while recently taking on a larger role for our FinTech practice. Working on our Customer Success team, he works directly with insureds on facilitating and streamlining robust programs for our clients through a collaborative approach.

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