Aon and Bunker Announce Partnership Focusing on the On-Demand Economy
Chicago, IL (July 24, 2019) – Aon plc (NYSE: AON), a leading global professional services firm providing a broad range of risk, retirement, and health solutions, and Bunker, the leading instant business insurance and compliance platform for independent workers and enterprises, announced today 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.
Bunker Technologies, Inc., online at https://www.buildbunker.com, is the leading insurtech providing instant business insurance solutions and compliance monitoring for independent workers and enterprises. Headquartered in San Francisco, CA with a second office in Madison, WI, Bunker is backed by investors including Comcast Ventures, Route 66 Ventures and Spero Ventures, as well as leading insurance companies such as American Family Ventures, Chubb, and Hiscox.
Aon plc (NYSE:AON) is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance.