Willis Towers Watson (WTW) and European insurtech, Indeez, have entered a broking partnership to distribute insurance products for independent workers working with digital platforms in Asia Pacific (APAC) region.
Through this partnership, Indeez will leverage the local market network and relationships of WTW in APAC to build tailored protection and benefits programmes for the community of gig workers in the region.
Indeez works with digital platforms to design affordable protection products for their community of independent workers in Europe. These include professional liability, accident and income protections to give piece of mind to the gig workers.
The collaboration will allow Indeez to accompany digital platforms and offer its solutions as they expand outside of Europe. While the partnership will initially cover key markets in Asia Pacific, it lays the foundation for similar partnership in other geographies.
Simon Weaver, Head of Corporate Risk & Broking, Asia Pacific, and Head of Australasia, at WTW said: “Prior to the outbreak of COVID- 19, the International Labour Organisation estimated that 1.3 billion people were working in the gig economy in 2018 in this region.
“The independent economy has grown larger during the pandemic, and with many workers losing secure jobs or seeking to top-up their income, the gaps in protections provided within this economy are stark with many having no guaranteed income, healthcare, retirement planning or sick care.
“Digital labour platforms have transformed the world of work and the need to support this growing and influential workforce is vital. Indeez have a unique offering in Europe, and we are excited to work with them to expand the opportunities into Asia Pacific.”
“As a firm focused on protecting people and managing risk, the partnership with Indeez will allow us to enable access to their existing protection products within Asia Pacific to the gig workers, and at the same time, enhance and develop new offerings to our shared clients.”
Vikas Chhariya, CEO of Indeez, said: “We consider WTW as a strategic partner in our mission to empower independent workers globally. As one of the fastest growing European insurtechs, Indeez and WTW, both recognise the needs of independent workers and digital platforms as a key sector in society that needs to be urgently addressed, and this requires collaboration to build solutions and innovation at global scale.”