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

Bunker’s On-Demand Insurance Professional Responds to Our Recent Forbes To Solve for Workers’ Compensation in The Gig Economy

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.  In his new position at Bunker, he works with marketplaces to ensure gig workers have the protection they need at prices that are financially feasible. 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.  

You have worked in the traditional insurance industry for so long, how important is it to you to develop policies uniquely for independent contractors?

"Historically, incumbent insurance carriers have been slow to catch up, much less keep up, with the changing trends in staffing, and the new exposures that come with an updated workforce.  One of the primary reasons I decided to join Bunker was the capability Bunker has to move quickly and be agile, as well as having dedicated underwriters willing to work on creative solutions.  Helping to provide unique solutions that appropriately and adequately provide insurance coverage to Independent Contractors, and the marketplaces and organizations that serve this emerging and important sector of the workforce, has quickly become a priority for our team at Bunker,” Dylin commented.

When did you come to realize the impact the lack of workers’ compensation for gig workers?

"The traditional offering for workers’ compensation did not provide proper coverage for independent contractors. Early on, the trucking industry identified the significance of the lack of coverage for drivers and developed Occupational Accident Insurance.  This product was primarily provided to the transportation industry until recently. Working with underwriters, Bunker started to identify this product could be customized to protect independent contractors outside of the transportation industry. We have created partnerships with many underwriters to help solve for the workers’ compensation issue for gig-based platforms.  We have been able to provide workers’ compensation coverage for many gig workers on Wonolo and Field Nation, among several other marketplaces and platforms."

How serious is the social impact of freelancers not being protected in the event of an injury?

"The impact of not having proper insurance in general can potentially be catastrophic in someone’s life.  For freelancers in particular, not having adequate protection to provide coverage for injuries sustained on the job, can be life altering.  Many times, personal health insurance policies will not pick up injuries sustained while working, and as a freelancer or Independent Contractor, they would not be eligible for coverage under the master workers’ compensation policy of the company they are contracting through, which makes it all the more important to be diligent about ensuring they understand the risks associated with being a freelancer."

What are you looking forward to most about your position to help marketplaces offer Occupational Accident Insurance to marketplaces to cover their gig workers?

"The opportunity to work with other driven, entrepreneurial minded and creative professionals, who are working just as hard in their efforts to disrupt their respective industries is what I find to be particularly appealing in my current role.  Specifically, Occupational Accident Insurance not only provides an opportunity for the platform or marketplace to save premium on their overall workers’ compensation expenses, but more importantly I am helping ensure the workers engaged through their platform have protection in the form of coverage for medical costs, loss wages, etc."