Dinghy, the on-demand freelancer insurance broker has been named one of the most disruptive companies in the UK by the Disruption50 Index 2019.
Founded in 2017 by Ben Wilks, Edward Woodcock and Robert Hartley, Dinghy offers on-demand insurance for freelancers including Professional Indemnity, Public Liability, Business Equipment and Cyber Liability, with legal expenses included on all policies.
Ben Wilks says; “We are delighted to be included in Disruption50. With 4.7 million Brits now working through a labour or service-related platform in some way, freelancers are choosing a work life that offers more freedom and autonomy. Our product meets this demand – one that is not currently being fulfilled by traditional insurance.
“We believe freelancers should never be characterised by financial instability and insecurity. Making insurance fairer, faster and cheaper for a new and growing population of workers is our priority and the fact that this has been highlighted by Disruption50 – who index by both human experts and AI – means a great deal.”
Dinghy’s end-to-end proprietary system allows freelancers to purchase on-demand business insurance – chargeable by the second, with the ability to turn cover up/down and on/off for periods when they are not working. It is a model that has won some serious support with initial funding from Balderton Capital and a subsequent acquisition by Kingsbridge Group.
A mobile-first offering with accompanying app, users are able to gain a quote in 45 seconds and receive their policy in under three minutes, with payments taken in arrears and no fees for transactions.
Julian New, marketing lead at Dinghy says; “As the world becomes more digitised and the world of work continues to revolutionise, we are seeing that regulation and the market is lagging behind progress. Insurance certainly is guilty of this, and that is why Dinghy has been recognised. We provide a solution that is pioneering a new model, using technology to disrupt outdated models and lead an industry forward into the future.”
Disruption50 selected businesses with the most disruptive potential by evaluating insights from a panel of experts, innovators and business leaders; in conjunction with the world’s first swarm intelligence platform, Unanimous AI. Utilising networks to create more accurate models and predictions in the same way a swarm utilises the collective to make better decisions. Unanimous AI augments the decision power of the judging panel with the ranking power of AI.
The Disruption50 culminates with the Disruption European Summit on the 10th September 2019, where the judges will be discussing the process and science behind the selection, along with the final indexing of the top 50.
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