San Diego (September 9, 2019) – Bunker, the leading instant business insurance and compliance platform for independent workers and enterprises, announced today the launch of Bunker Enterprise — https://enterprise.buildbunker.com — at the CWS Summit and Collaboration in the Gig Economy conferences in San Diego.
At the events hosted by Staffing Industry Analysts (SIA), workforce solutions professionals can experience Bunker Enterprise, a full-service compliance suite designed for the on-demand economy. It’s the first software to combine Smart COI screening, compliance verification, instant insurance and ongoing monitoring into a single platform, providing a holistic compliance solution for agile businesses.
“Bunker is protecting the enterprise while powering the workforce,” 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 Enterprise ensures that your independent workforce is instantly insured and 100% compliant.”
Over the past several years, COI management platforms have emerged as businesses attempted to manage their growing contingent workforce. At the same time, online insurers have raced to the scene to cover the workers themselves. However, no platforms have previously managed to bridge the gap between the two, leaving hours of tedious back-and-forth, stale PDFs, and rising levels of insurance fraud to plague on-demand companies in every industry.
“Every year, billions of PDF Certificates of Insurance are emailed back and forth,” says Chad Nitschke, co-founder and CEO of Bunker. “That’s literally years of unnecessary work. It’s extremely inefficient with a high error rate, not to mention a risk of fraud.”
Bunker made headlines in its initial funding rounds by pioneering the first usage-based business insurance products with Chubb. The company went on to release the first fraud-proof Live Certificate of Insurance earlier this year, to streamline proof of insurance sharing & monitoring. Now, Bunker Enterprise brings the two together. The software can be broken into four main parts: digital requirements, smart COI verification, instant insurance, and real-time monitoring.
Bunker’s early customers have improved contract compliance by 40%, and reduced time to compliance from over 8 days to less than 24 hours. This amounts to weeks or even months of time saved by everyone, all while improving compliance.
“Bunker goes beyond compliance monitoring, and actually resolves non-compliance before each contract begins,” added Kevin Kiser, Bunker’s Head of Client Solutions. “By streamlining the communication process, staffing professionals not only save their own time, but gain a competitive edge by launching projects 25% faster.”
Bunker attended Gig E for the first time in 2017, where we were awarded the Gig Economy Shark Tank Award for reinventing business insurance to better serve the on-demand economy. At CWS Summit & GigE 2019, leading staffing and marketplaces can be the first to try out Bunker’s new compliance verification platform at Station G at the CWS Summit and Station N at GigE.