Global firm Aon and insurtech Bunker have entered a commercial agreement to serve the growing one-demand, sharing, gig economy.
Aon and its clients will have access to Bunker’s compliance platform and Live Certificate of Insurance. This ensures and organisation’s contractors, independent workers, and vendors are compliant with insurance standards in real-time.
In addition, Bunker will be able to expand its reach through Aon’s enterprise network.
The partnership will streamline a process that has historically been manual. Furthermore, contractors and vendors will be able to comply with requirements through usage-based insurance products that are embedded digitally.
“Working with Bunker provides Aon with capabilities to serve Digital Economy players,” said Jillian Slyfield, Aon’s Head of the Digital practice for its US Commercial Risk team. “The growth of the on-demand economy is changing the way many people work, and we are excited to partner with Bunker to better serve this growing segment of workers.”
“We’re grateful for the opportunity to work with Aon and help serve clients in the dynamic and expanding on-demand economy,” said Chad Nitschke, Co-Founder & CEO of Bunker. “Whether you’re a gig economy platform, a Fortune 500 company leveraging contingent workers, or a general contractor managing subcontractors – Bunker ensures that your independent workforce is instantly insured and 100% compliant. Matching Aon’s scale and expertise with Bunker’s technology is a win/win for those companies.”
Insurers such as Aon are looking for new ways to aid the emerging gig economy and the insurance it needs. Firms such as Bunker and Zego are doing that.
In addition, Aon is working with Oxfam and insurtech Etherisc to introduce a blockchain-based agricultural insurance platform for small farmers and farms in Sri Lanka.
The platform offers micro-insurance to smallholder paddy field farmers who are on the verge of losing their crops due to risky weather.
Also, the platform aims to transform and simplify the claims process and slash the administration costs by leveraging blockchain technology.