Spotlight on fintech collective benefits
11 January 2023
Welcome to the first of our Ashurst Fintech Spotlight Series in 2023. We will cover companies that were part of our Fintech Legal Labs Cohort and other promising fintech companies.
We are delighted to introduce one of our 2022 Cohort Collective Benefits as a spotlighted company in this series.
If you are interested in suggesting a company to be covered under this series, or are interested in meeting or finding out more about any of the companies we are featuring as part of this series please do not hesitate to contact us.
Collective Benefits - About the Company
Collective Benefits are the global benefits provider for businesses with flexible workers. We help them to increase the financial resilience of their people through insurance, savings on everyday purchases and physical & mental wellbeing support.
Flexible workers (people who find work through platforms or work in shifts - delivering our food, taking care of our loved ones and building our homes, for example) need our support. Traditionally, they experience low pay, income insecurity, and reduced, or no, access to social benefits such as insurance against accidents at work. Taken together, this leads to reduced financial resilience.
We build their financial resilience by helping them to safely get through everyday financial shocks such as being ill or having an accident, and making every pound that they earn go further.
This is good for workers, and good for the long-term sustainability of the companies who provide flexible work.
Key Advantages
With a dedicated worker research function, we have built a digital-first insurance and benefits platform that brings together a wide range of financial products designed specifically for flexible workers’ needs.
From sick and injury pay to public liability insurance, we’ve reimagined insurance to provide a safety net where it matters the most . Our insurance has a fully digital claims experience designed with the flexible worker in mind, a dedicated team making sure the outcome is as fast and accurate as possible, and payouts in as little as a few hours. Meanwhile, rewards such as savings on food and fuel boost workers’ purchasing power in their day-to-day lives.
These first-of-their-kind products help solve a critical business issue: by making workers feel secure, valued and engaged, we are able to significantly increase engagement and retention for the companies they find work through.
*Ashurst LLP does not endorse or recommend any particular product or investment opportunity.
