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Aon and Bunker announce partnership focusing on the on-demand economy

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  • Topics:
    • Emerging Risks
    • InsurTech
    • Risk Management
    • Technology

Aon plc and Bunker have announced that they have entered into a commercial agreement to serve the growing on-demand, sharing economy...

The partnership provides Aon and their clients access to Bunker’s compliance platform and Live Certificate of Insurance, ensuring an organization’s contractors, independent workers, and vendors are compliant with insurance standards in real-time. Bunker will be able to expand their reach through Aon’s enterprise network, risk management expertise, and global capabilities.

“Working with Bunker provides Aon with capabilities to serve Digital Economy players,” said Jillian Slyfield, Aon’s Head of the Digital practice for its US Commercial Risk team. “The growth of the on-demand economy is changing the way many people work, and we are excited to partner with Bunker to better serve this growing segment of workers.”

The on-demand economy is growing quickly, and it is critical to ensure that the independent workforce is compliant. The Freelancers Union and Upwork 2018 annual survey found that 56.7 million Americans— about 35% of the U.S. workforce— work independently, an increase of 4 million since 2014. Insurance has been a primary barrier to how an organization manages their contingent labor, which is why Aon and Bunker have joined forces to help organizations tackle the problem.

“We’re grateful for the opportunity to work with Aon and help serve clients in the dynamic and expanding on-demand economy,” said Chad Nitschke, Co-Founder & CEO of Bunker. “Whether you’re a gig economy platform, a Fortune 500 company leveraging contingent workers, or a general contractor managing subcontractors - Bunker ensures that your independent workforce is instantly insured and 100% compliant. Matching Aon’s scale and expertise with Bunker’s technology is a win/win for those companies.”

Aon’s partnership with Bunker enables the firm to help their clients manage proof of insurance in real-time, streamlining a process that has historically been manual. In addition to automating the insurance verification process, contractors and vendors are able to easily comply with requirements through usage-based insurance products that are embedded digitally in an organization’s onboarding process.