Singapore – Aon, a global professional services firm which provides a broad range of risk, retirement, and health solutions, and Singapore-headquartered Doerscircle, an all-in-one services platform dedicated for startups, have entered into a collaboration to provide insurance solutions to the often underserved workforce of entrepreneurs, startuppers, and freelancers. The partnership will initially target Asia, and solutions will be offered through Doerscircle’s platform.
According to the information by the companies, small and medium enterprises (SMEs) in Singapore account for two-thirds of all employment and contribute to close to S$200 billion to the Singaporean economy.
Meanwhile, on a global scale, despite the World Bank’s recent findings that almost 50% of the global workforce is self-employed, access and affordability continue to be a challenge as traditional insurance plans are not usually designed to fit the needs of the self-employed.
Aon and Doerscircle aim to address these pain points and at the same time, leverage the economical contribution of this demographic of workers. The collaboration will see the development of commercial, risk, and health insurance solutions to answer the needs of smaller enterprises and independent workers, enabling them to focus on growing their business instead of spending time and energy on understanding and managing insurance issues.
Members of Doerscircle will be able to have access to tailored insurance solutions through a streamlined online process on the Doerscircle platform.
Over time, Doerscircle aims to extend these offerings to include more products and countries, leveraging Aon’s broad network, risk management expertise, and global capabilities.
“The current business and economic environment are changing the way people work. We are excited to collaborate with Doerscircle to address the specific insurance needs of this key segment of independent workers,” said Tobias Schneider, head of financial institutions and SME of Affinity Asia unit at Aon.
Meanwhile, Doerscircle founder Helle Priess said, “Doerscircle aims to challenge the status quo and reshape the world for independent doers – entrepreneurs, startuppers and freelancers. We strongly believe that insurance solutions should be accessible, relevant, easy to understand, and transparent. We’re thrilled that Aon has the same vision. We’re confident that together, we will set new standards in insurance offerings for independent doers.”