The demand for delivery services has never been higher than it is today. And neither has the demand for insurance in the delivery industry.
Executive SummaryDoug Grawe, general counsel for Openforce, a technology platform for the on-demand economy, explains why technology is the best tool for insurance companies managing coverage for motor carriers and their independent contractors. He offers a checklist of dos and don'ts for insurers targeting transportation firms and independent contractors in the transportation industry.
Delivery companies contracting with independent contractors (ICs) are critical for businesses to keep up with the demands of today’s market. New delivery companies, new motor carriers and new ICs are entering and exiting the market every day, and everyone is reacting rapidly to keep up with demand. But fast change means high risk, and higher insurance rates follow.
Insurance companies need technology to help keep up with demand and keep costs down.
How can insurance companies play a role in providing the necessary coverage for ICs and contracting companies at an affordable cost in this new world of work without limits?