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Collective Benefits, the insurtech on a mission to protect and reward flexible workers in the gig economy, has partnered with Aventus, adding the digital insurance platform to its list of preferred technology partners.
Now with over 250,000 workers across 26 countries worldwide and clients including Wolt, Stuart, Addison Lee and TaskRabbit, Collective is Europe’s leading insurance and benefits platform for the gig economy. The Collective Benefits suite of insurance products offers a range of cover choices with varying degrees of benefits for death, accident & sickness, maternity/parental or compassionate leave, designed to meet the needs of self-employed contractors, zero hour and other gig economy workers.
Aventus is the customer engagement platform for insurance. It offers ‘plug and play’ modules across Digital Underwriting, Distribution and CRM. For the scope of this project, Aventus has deployed the core elements of its platform including rating, fulfilment, documents and customer communications. This has been achieved via a range of APIs enabling Collective Benefits to build their own online quote, bind, payment and policy management solution. It also provides the policy admin system via its ecosystem’s integration with Salesforce, and full reporting capabilities including automated bordereau. Through the platform, the policies are based on a monthly subscription model, with payments taken online via Stripe.
Russell Corbould-Warren, Chief Underwriting Officer at Collective Benefits, comments: “We are thrilled to be working with Aventus to deliver a full suite of innovative insurance for independent workers. I have witnessed first-hand the life changing impact that providing insurance protections for these workers can have, and we have played a pivotal role in tailoring cover for this demographic. Our mission is to transform both the insurance and the on-demand economy with a blend of ground-breaking tech and razor-sharp insurance capabilities. We’re already Europe’s leading digital insurance and benefits company for independent workers and we’re excited to scale it up to reach the whole on-demand economy and set a new standard for a wide range of financial protections designed specifically for this sector’s needs.”
In 2021 alone, Collective Benefits covered 7800 sick days, expanded into 26 more countries, and doubled its number of employees. According to its research, 80% of workers feel safer having access to insurance and 87% now feel more valued by their employer.
Peter Goodman, CEO & Founder of Aventus, said: “We’re delighted to have been selected as one of Collective Benefits’ key technology partners to deliver this exciting and innovative new product. Partnering with them shines a spotlight on the benefits of our API-first approach. Our platform offers clients full end-to-end capability, but insurers can choose to simply integrate with one or more of our modules depending on their needs. Collective Benefits has used the flexibility of the platform to integrate its quote and bind website with its CRM and Policy Administration systems. This keeps the customer at the very centre throughout the process, from the initial quote through to the insurance CRM – tailoring both the product and the customer experience to the needs of independent workers. We look forward to developing our relationship with them further to help bring additional innovative products to market.”
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