Verifly launches insurance coverage for gig workers

The start-up first launched in 2016 to provide coverage for drone pilots

Verifly launches insurance coverage for gig workers

Insurance News

By Ryan Smith

Insurance start-up Verifly, which launched in 2016 as an insurance provider for drone pilots, has expanded its coverage to include coverage for part-time or contract work

Verifly will charge per-hour prices for its gig-work coverage, according to a report by TechCrunch. Part-time or contract workers – photographers, DJs, handymen – can get at least $1 million in insurance coverage for $5 per hour, per job.

Verifly said that per-hour prices go down for customers who buy longer policies or extend their original polices.

Verifly doesn’t provide the actual coverage – that’s done by Markel, according to DSNews – but acts as a gateway with its apps and website. So far, the company has raised $7 million in venture funding from investors.

“The meteoric rise of independent work as both a normal way of earning a living and an aspirational lifestyle represents a fundamental shift in the way we think about operating a business and earning a living,” said Will Quist, partner at Slow Ventures, one of Verifly’s investors. “To address this, a new model of insurance will rise. It will be delivered on demand and charged in the same way these workers are paid – by the job. We are thrilled to back Verifly in their quest to professionalize and elevate independent workers.”



Keep up with the latest news and events

Join our mailing list, it’s free!