Allianz Insurance announced on Monday it has formed a new partnership with on-demand insurtech startup Dinghy to provide business insurance to the freelance market.
According to Dinghy the number of freelancers has increased and so has the diversity of the workforce. The insurtech explained that the number of women working as freelancers has grown by 63% over the last decade and freelancers aged 50 and above increased by close to 200% in the 15 years between 2001 and 2016. Dinghy reported that it allows freelancers to have access to fair-priced insurance for the periods of cover they want.
“Recent data shows that there are 4.7 million freelancers now regularly working through some form of work or services platform (a significant increase from 2.3 million people in 2016) and around 7.5 million people in the UK who have engaged with work in this way at least once. “
While sharing details about the partnership, Dorian Zanker, CEO at Dinghy stated:
“The future of work is here – and Dinghy is the future of insurance. We are serving this emerging and high growth workforce with our innovative on-demand offering. We are making insurance fairer, faster and cheaper for the new and growing population of freelancers and are extremely pleased that Allianz shares our goals as well. With their deep expertise, I believe we have never been in a better position to make our vision a reality for all freelancers and platform workers.”
Nick Hobbs, Director of Broker Markets at Allianz Insurance plc, added:
“We recognise that the world of employment is changing rapidly and our work in getting to this point with Dinghy has re-emphasised that evolution. With insure-as-you-work solutions expected to become more prevalent, partnering with Dinghy represents a great opportunity for Allianz. We are looking forward to sharing our expertise and providing flexible business insurance solutions for this fast-growing sector of the economy.”
Dinghy notably offers 24/7 claim handling along with fair, and flexible insurance service in the freelancing industry. The company previously was acquired by UK insurer Kingsbridge and recently was recognized as the most disruptive insurance business in the UK at the Disruption Summit Europe conference. The insurtech was also named the 26th most disruptive overall