NEW YORK, April 30, 2020 /PRNewswire/ -- Already vulnerable before the crisis struck, gig economy workers have been among the hardest hit by the COVID-19 pandemic, and are now reeling from its economic aftershocks. The pandemic has shined a light on just how exposed gig workers are to risk, many of whom lack the protections of traditional employees. As gig workers struggle to cope with devastating losses of work and income amidst the pandemic while also protecting themselves from the health risks, how will this crisis shift the future of gig economy work going forward, and what does this mean for the insurance industry?
Cake & Arrow, an experience design and innovation company that works with organizations in the insurance industry, today published a new report based upon the responses of hundreds of gig workers surveyed amidst the pandemic. Entitled Covid-19 & the Gig Economy: A Reckoning for the Insurance Industry, the report provides insight into:
How and to what degree the gig economy has been impacted by the pandemic
How Covid-19 has shifted the values and mindsets of gig workers
Who gig workers trust most and least, especially in the midst of a crisis
How the insurance industry can pivot post-crisis to better meet the evolving needs and demands of gig workers
"Having surveyed gig workers in the past, we knew what kinds of challenges they were up against and that they'd be particularly susceptible to the effects of this crisis," explained Cake & Arrow founder and CEO, Josh Levine. "Without the kind of protections afforded to regular employees, these workers are really struggling right now. This crisis will likely mark a reckoning for the insurance industry in terms of what they are doing to project these workers, and now seemed like an important time to hear from gig workers firsthand about how they are coping."