Another View

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 insurers, 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. The coverage is designed for gig and on-demand platforms, targeting workers including couriers, warehouse workers, restaurant/hospitality employees and medical personnel.

Coverage demand is high. Bunker added employees to handle growth.

Bunker launched its first gig-related workers’ comp products in early 2018, covering all of the workers on two on-demand/gig platforms, Nitschke said. As of the end of 2018, that has grown to 10 on-demand gig platforms.

“In 2018, we surpassed one million hours of gig work covered and thousands of workers protected,” he said. “We expect to handily exceed those in 2019.”