Willis Towers Watson has partnered with InsurTech firm Indeez to distribute its insurance products for independent workers using digital platforms in Asia Pacific.
Indeez works alongside digital platforms to create protection products for independent workers in Europe that are affordable. These products include accident, income protection and professional liability.
According to Insurance Business Asia, the partnership will enable Indeez to accompany digital platforms and offer its solutions as it expands outside Europe. In addition, the deal will allow Indeez to use WTW’s local market network and Asia Pacific relationships to build tailored benefits and protection programs for gig workers in the region.
Indeez CEO Vikas Chhariya said, “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.`’
WTW head of corporate risk and broking for APAC and head of Australasia Simon Weaver noted that the deal will open an opportunity for similar partners in other geographies.
He added, “ 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 [has] a unique offering in Europe, and we are excited to work with them to expand the opportunities into Asia-Pacific.”
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