Willis Towers Watson partners with Indeez to serve the needs of gig workers and digital platforms in Asia Pacific

Rhea-AI Summary

Willis Towers Watson (NASDAQ: WLTW) has announced a partnership with European insurtech Indeez to distribute tailored insurance products for gig workers in the Asia Pacific region. The partnership aims to address gaps in protection for independent workers, especially as the gig economy grows post-COVID-19. Indeez, which specializes in affordable protection solutions for gig workers, will utilize WTW's extensive network to implement these programs across key Asia Pacific markets. This collaboration sets the stage for potential future partnerships in other global regions.

Positive

• Partnership with Indeez enhances WTW's offerings for gig workers in Asia Pacific.
• Collaboration supports the growth of tailored insurance solutions in a rapidly expanding market.
• Indeez's expertise in affordable protection products complements WTW's capabilities.

Negative

• None.

SINGAPORE, Nov. 10, 2021 (GLOBE NEWSWIRE) -- Willis Towers Watson (NASDAQ: WLTW), a leading global advisory, broking and solutions company, and European insurtech, Indeez, today announced a joint broking partnership to distribute insurance products for independent workers working with digital platforms in Asia Pacific. Through this partnership, Indeez will leverage the local market network and relationships of Willis Towers Watson (WTW) in Asia Pacific to build tailored protection and benefits programmes for the community of gig workers in the region.

Indeez works with digital platforms to design affordable protection products for their community of independent workers in Europe. These include professional liability, accident and income protections to give piece of mind to the gig workers. The collaboration will allow Indeez to accompany digital platforms and offer its solutions as they expand outside of Europe. While the partnership will initially cover key markets in Asia Pacific, it lays the foundation for similar partnership in other geographies.

Commenting on the partnership, Simon Weaver, Head of Corporate Risk & Broking, Asia Pacific, and Head of Australasia, at WTW said: “Prior to the outbreak of COVID-19, the International Labour Organisation estimated that 1.3 billion people were working in the gig economy in 2018 in this region. The independent economy has grown larger during the pandemic, and with many workers losing secure jobs or seeking to top-up their income, the gaps in protections provided within this economy are stark with many having no guaranteed income, healthcare, retirement planning or sick care.

As a firm focused on protecting people and managing risk, the partnership with Indeez will allow us to enable access to their existing protection products within Asia Pacific to the gig workers, and at the same time, enhance and develop new offerings to our shared clients.”

Vikas Chhariya, CEO of Indeez, said: “We consider WTW as a strategic partner in our mission to empower independent workers globally. As one of the fastest growing European insurtechs, Indeez and WTW, both recognise the needs of independent workers and digital platforms as a key sector in society that needs to be urgently addressed, and this requires collaboration to build solutions and innovation at global scale.”

“Digital labour platforms have transformed the world of work and the need to support this growing and influential workforce is vital. Indeez have a unique offering in Europe, and we are excited to work with them to expand the opportunities into Asia Pacific,” added Weaver.

About Indeez

Indeez is a European insurtech startup based in Paris, France, dedicated to building protection solutions for everyday needs of independent workers. It is backed by Mosaic Ventures, along with several notable angel investors. The team has previously pioneered the largest gig protection program for ride sharing and for ride-hailing globally.

About Willis Towers Watson

Willis Towers Watson (NASDAQ: WLTW) is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has 45,000 employees serving more than 140 countries and markets. We design and deliver solutions that manage risk, optimise benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas – the dynamic formula that drives business performance. Together, we unlock potential. Learn more at willistowerswatson.com.

Media contact

Clara Goh: +65 6958 2542 | clara.goh@willistowerswatson.com

FAQ

What is the partnership between Willis Towers Watson and Indeez about?

The partnership focuses on distributing tailored insurance products for gig workers in the Asia Pacific region.

How will the partnership impact independent workers in Asia Pacific?

It aims to provide essential protection and benefits programs, addressing significant gaps for gig workers.

When was the partnership between WTW and Indeez announced?

The partnership was announced on November 10, 2021.

What are the key offerings planned for gig workers through this partnership?

The partnership will initially offer professional liability, accident, and income protections.

What is WLTW's role in this partnership?

WTW will leverage its local market network to support the distribution of Indeez's insurance products.