US start-up Verifly is now offering business insurance to freelancers and gig economy workers, with as little as $5 policies available for $1m per hour, per job. The app-based system uses customers' postcode to determine their risk profile and analyses historical loss data to determine a policy price. Verifly said costs vary depending on what the worker does for a living. The policies are provided by insurance company Markel.
US start-up Verifly is now offering business insurance to freelancers and gig economy workers, with $1m policies available for as little as $5 per hour, per job. The app-based system uses customers' postcode to determine their risk profile and analyses historical loss data to determine a policy price. Verifly said costs vary depending on what the worker does for a living. The policies are provided by insurance company Markel.