Bunker: Impacting the Gig Economy

Bunker: Impacting the Gig Economy

We had fun sharing our Q1 ‘Thousands of ‘Clarks’ update, and heard that some of you enjoyed it as well!

In our Q1 update, we shared a bit more about Bunker’s mission of embedding business insurance into contracts, and how we use ‘Lois’ & ‘Clark’ as our customer personas. For a refresher on this, feel free to take another spin through that update.

To keep the dialogue going we’ll start to share additional updates, stats and experiences on a more consistent basis —

Here is an update on all things Bunker from Q2 2018.

Chain Reaction

Chain Reaction

Over the past decade, bike sharing has exploded in most major cities. The platform made its US debut in 2010, and has since expanded to over 100 bike sharing systems across the country. Their success both owes to and aids in the burgeoning gig economy. However, like the gig economy, it grew so quickly without realizing the unexpected circumstances that could occur when customers are involved.

Bunker is excited about a future of transportation that’s healthy, affordable and environmentally sustainable. We’re passionate about making sure it’s also safe for everyone involved. Collaborative safety ensures that everyone has the protection they need to keep growing, innovating, and moving towards the future.  

Bike Sharing- The Gig Worker’s Commute

Bike Sharing- The Gig Worker’s Commute

It is almost impossible to visit a major city in the United States and not see a bike sharing company present.  Bike sharing is the new way of renting bikes that allows riders to reserve the bike from their phone, locate the bike, and rent it on an hourly basis. Bike sharing allows people to explore new cities, engage in a healthy exercise, conveniently get to a destination, and all at an affordable price. The convenience bike sharing offers plays into the on demand world consumers are now used to.  Not only is bike sharing revolutionizing how people can travel to cities and get around, it’s also changing the way gig-economy workers can go from one gig to the next.

Direct to Madison

Madison’s new direct flight to San Francisco opens up a world of Venture Capital to the Midwest Technology hub

This month, United Airlines officially endorsed Madison’s status as a burgeoning tech hub with the introduction of a non-stop flight to the capitol of all venture capital: San Francisco.

Madison’s thriving startup industry and endless flow of talented young graduates makes it an attractive city for tech companies looking to expand or relocate. However, many in the Bay area have been reluctant to spread their company across cities that are inconvenient to travel between.

A beacon of innovation in its own right, many are excited about West Coast investors tapping Madison’s supply of creative new ventures. Matt Howard, CEO of Madison’s beloved food delivery app, EatStreet, said the most exciting opportunity is that venture capitalists and employees can now “visit Madison to get a firsthand look at tech companies they may want to be a part of.”

For companies like Bunker who bet on Madison long ago, the connection is as symbolic as it is convenient. The trip will make life much easier for Bunker CEO, Chad Nitschke, who frequently flies between the cities, and more importantly it initiates Madison as a key player in the national tech community.

Under the leadership of Zach Brandon, the Madison Chamber of Commerce understood the value of the San Francisco connection and worked diligently to bring this flight to Madison.  Their efforts were celebrated after the inaugural flight at the Zendesk office in San Francisco. Bunker joined in the celebration by consecrating the union between the quintessential tech hub and its promising apprentice with 20 pounds of cheese curds delivered from The Old Fashioned, a staple of Madison community and culture.

 Bunker's Co-Founder & CEO, Chad Nitschke, serving cheese curds at the Direct to Madison celebration in San Francisco.

Bunker's Co-Founder & CEO, Chad Nitschke, serving cheese curds at the Direct to Madison celebration in San Francisco.

If you’re not familiar, cheese curds are a beloved byproduct of the cheese making process. When milk is pasteurized, it separates into curds and whey (ever wonder what Little Miss Muffet was eating all day?). The curds are cooked and pressed to reveal the fresh, flavorful favorite snack of Wisconsinites. Oh, and they squeak.

The hotbed of innovative technology quietly catalyzing in Madison is not unlike the beloved hidden treasure of the cheese making process. This flight will hopefully bring about the national recognition the city has been waiting for. President of the Wisconsin Technology Council, Tom Still, described it as a “coming of age factor,” which will not only boost the city’s reputation, but “helps to spread the word about Wisconsin” as well.

For Bunker and our fellow Madison start-ups, the United Airlines flight endorses a collaborative future between Madison and Silicon Valley, and validates the innovative companies who put Madison on the map. And with just a short flight separating the West Coast from America’s Dairyland, national appreciation for cheese curds can’t be far behind!  

What All Independent Contractors Need to Know About Usage Based Business Insurance

What All Independent Contractors Need to Know About Usage Based Business Insurance

As a small business owner, protecting your business is an important priority but today’s litigious environment may expose your business to threats you might not even be aware of. Aside from protecting your business, we fully understand insurance can be a barrier to work because its traditional format doesn’t adapt to the gig economy. The insurance industry is highly regulated and if you asked Bunker’s CEO, Chad Nitschke, he would say it is not exactly the most progressive industry. By 2020, 43% of the U.S. Labor force will be comprised of gig economy workers. This alone speaks to what Bunker has been trying to work towards: adapting insurance offerings for the contingent workforce.

Finally a Breakthrough After Years of Frustration Working As An Insurance Professional

Finally a Breakthrough After Years of Frustration Working As An Insurance Professional

Recently Bunker was featured in Forbes announcing our customized Occupational Accident Insurance product for Independent Contractors needing workers compensation.  This customized insurance product allows gig workers to purchase insurance when they are on the job. It is affordable and ensures workers are protected when they are on the job- addressing a major concern gig workers are facing. Dylin Holden, Bunker’s Client Executive for On-Demand and The Future of Work, has a decade of experience working in the insurance industry.  Prior to Bunker, Dylin found himself frustrated with the lack of protection for gig workers.  After Bunker’s feature in Forbes, we sat down with Dylin to discuss his excitement about Occupational Accident Insurance and what it means for The Future of Work.  

Removing Insurance Barriers for Thousands of ‘Clarks’ at Bunker

Removing Insurance Barriers for Thousands of ‘Clarks’ at Bunker

It’s been a busy Q1 at Bunker — after the announcement last month regarding our partnership with Chubb, we’ve had quite a few people reaching out to learn more about what we’re up to. We thought we’d use this as an opportunity to share a little bit more about what’s behind the curtain.

Lessons Learned At The Inaugural HR Transform

Lessons Learned At The Inaugural HR Transform

At Bunker, we’ve been privileged to speak at a variety of events over the past year, from HR and staffing events to insurance and risk management conferences.  This week, we spent time in Las Vegas at the inaugural HR Transform event.  The conference brought together HR professionals and technology thought-leaders for three days of knowledge-sharing.  Here’s what we learned between turns of the roulette table.

Insurance 101

Insurance 101

Insurance, a word that has a reputation of an eye roll when mentioned.  Add “liability” in front of it and an eye roll quickly turns to a glossy gaze. It’s not hard to understand why; the commercial insurance industry is deeply rooted in PDF documents, slow low-tech processes and poor customer service.  All of this leads to misunderstanding and miscommunication, not to mention the industry has not adapted to the workforce of 2018, treating independent professionals like mega corporations.  

Immutable.js Records with Typescript Classes- Part 1

Immutable.js Records with Typescript Classes- Part 1

Bunker's Technology Series

Developing a modern web application in javascript or Typescript with immutable objects is a very good practice. However, writing code that also uses ES6 class syntax and Typescript type hierarchies usually requires some major trade-offs. This series of articles will show how we decided on an approach to the problem at Bunker to get the best of both Typescript and immutability!

Bunker Unveils Madison Office

Bunker Unveils Madison Office

When building a business, there are many different milestones that make up the journey.  While financial milestones are obviously significant, team and cultural milestones should be celebrated with equal importance.  Over the past few weeks, we have experienced a fantastic company milestone that impacts both our employees and Madison community that we’ve chosen to grow - the opening of our first official office space in Madison!

Workers’ Compensation For The On-Demand Worker

Workers’ Compensation For The On-Demand Worker

One of the common questions we hear at Bunker from enterprise, staffing, and on-demand platform clients is - ‘How do we solve for the worker injury / Workers’ Compensation problem when engaging independent contractors’?  It’s a hot button topic that has tangible risk, particularly in light of the lawsuits we’ve continued to see emerge on the issue.  If you’re not asking this question already and putting a solution in place, you should be.  

The answer is complicated, not one-size fits all, and while insurance hasn’t fully kept up with the pace of change relating to contingent work, progressive insurers have both increased and evolved significantly over the past 12 months to close the gap.

Insurance As A Barrier To Talent

Insurance As A Barrier To Talent

At Bunker, we’ve spent the past 18 months understanding how insurance plays a role in industries that require it as part of normal operating procedure.  What we’ve found is that business insurance is a requirement to formalize relationships in many industries, including contingent workforce, franchising and property leasing, among others.  We've also found that those requirements are very painful for everyone involved.

Bunker Emerges Victorious After Swimming With The Sharks

Bunker Emerges Victorious After Swimming With The Sharks

On Thursday, September 14th, five leaders of startup organizations took the stage at the Staffing Industry Analyst’s Collaboration in the Gig Economy to tell why their company deserved the title of “most innovative company in staffing”.  

“Insurance was invented in the late 1600’s, and sadly, if I could wake someone up from that time period, I could probably get them fully up to speed on what has changed in about 20 minutes; not much has happened,” explained Chad as he started his Bunker pitch.  Chad then shared how Bunker is on a mission to seamlessly embed insurance when two organizations decide to do business together, like when an enterprise hires an independent contractor.

 

Bunker Advances Beyond Closed Beta and Raises $6M Series A to Accelerate Contract Insurance Marketplace

Bunker Advances Beyond Closed Beta and Raises $6M Series A  to Accelerate Contract Insurance Marketplace

Bunker, a San Francisco-based digital business insurance platform, announced today its public launch and that it has closed $6M in Series A funding.  This follows less than a year after announcing their $2M seed round and launching in beta.

This round was led by Omidyar Network, a leading venture capital firm that invests in mission-oriented companies.  Other new and previous investors - including Comcast Ventures and Route 66 Ventures - also participated in the round.  Rob Veres from Omidyar Network has joined Bunker’s board of directors.  

2016 Rio Olympics: The Working Numbers [Infographic]

2016 Rio Olympics: The Working Numbers [Infographic]

The Contingent Workforce Demands From The World’s Largest Athletic Event

When thinking about the future of work and what it might become, one plausible definition is “a never ending series of events that people choose, or don’t choose, to participate”.  In other words, together we’re building an ecosystem that supports a constant revolving door of opportunity, where any worker, at any moment, can jump in or out.

So, if the future of work is a never ending series of events, there are few larger events than the Olympics...

Bunker Origins: A Superhero Story

Bunker Origins: A Superhero Story

At Bunker, we love superheroes. We even named the customer in our first demo ‘Lois Lane’, and her persona lives on with passion inside the company today.  We love them for their humility, even though many are not human.  We love them for their diversity of powers, even though like us they all have weaknesses.  But most of all, we love them for their dedication to helping others.  And, although we may not yet be superhero status in everyone’s eyes, we are committed to helping solve real industry challenges to one day be a superhero for our customers.  

In our superhero pursuit ...

Insurance As A Barrier To Sales

Insurance As A Barrier To Sales

How to feel the joy of sales without the looming fear of risk exposure

From attracting talent to adding members, “closing the deal” is often a battle between requirements and compliance.  

At Bunker, we’ve spent the past 18 months understanding how insurance plays a role in industries that require it as part of normal operating procedure.  What we’ve found is that business insurance is a requirement to formalize relationships in many industries, including contingent workforce, franchising and property leasing, among others.  We've also found that those requirements are very painful for everyone involved.