Bunker, a startup broker focused on independent contractors and small businesses, sees gig workers and their workers compensation insurance needs as a lucrative proposition.
“Bunker has worked with leading on-demand/gig platforms, along with insurance carriers, to develop usage-based policies that include occupational accident, contingent liability and workers compensation,” co-founder and CEO Chad Nitschke told Carrier Management via email.
He explained that the coverage is designed for gig and on-demand platforms, targeting workers including couriers, warehouse workers, restaurant/hospitality employees and medical personnel.
Nitschke said that demand for the coverage is high, and it increased through 2018 with expectations that the trend will continue through 2019. What’s more, he said, the company has added employees to handle that growth.
Bunker launched its first gig-related workers compensation products in early 2018, covering “all the workers on two on-demand/gig platforms, Nitschke said. As of the end of 2018, that has grown to all the workers on 10 on-demand gig platforms.
“In 2018 we surpassed one million hours of gig work covered and thousands of workers protected,” Nitschke said. “We expect to handily exceed those in 2019.”