March 28, 2018 - Today Cake & Arrow launched a new case study exploring the future of insurance in the age of the gig economy. Following hours of user research and testing with hundreds of gig workers, the case study explores key insights from the research, and offers user-tested design tips for insurers and insurtechs looking to build their own gig economy products.
"With nearly 40% of the U.S. labor market now comprised of gig workers, the insurance industry is already very behind in satisfying the needs of this market," said Christina Goldschmidt, VP of Customer Experience & Design at Cake & Arrow, who also headed up the research. "Our research found that these workers are uniquely primed to purchase direct, but that they are largely unaware of their own risks and of insurance products that actually meet their needs. Our hope is that our case study and the prototype we designed will accelerate some of the thinking and innovation that is long overdue in the industry."
In addition to research insights, the case study offers a glimpse into what insurance designed specifically for gig economy workers might look like. Based upon learnings gleaned from initial research published in a white paper late last year, Cake & Arrow designed a gig economy insurance prototype that it then tested with actual gig workers, and refined based upon their feedback. The case study includes a 2:30 second video walk-through of the prototype, highlighting specific features and design recommendations based upon user feedback.
The complete case study and the accompanying video can both be viewed here: https://cakeandarrow.com/work/gig-economy-insurance/