New business practices and technologies have led to many workers supplying their labour outside of the traditional employment relationship, with a continued shift towards contract work.
From Shared Economy App providers enabling flexible and freelance work to organisations leveraging contract workers, the Future Workers are unique. They are technologically-savvy and highly adaptive.
Spend a day in the life of the following Future Workers to understand their risks and fears.
Fact: The worldwide ridesharing market size was about US$36 billion in 2017 but it could grow eight-fold by the year 2030, reaching $285 billion annually.1
Fact: 92% of millennials want to work remotely.2 The number of shared workspaces has grown at over 100% a year for the last 10 years and expected to surpass 20,000 globally in 2019.3
Fact: 1.4 billion international trips were made for leisure in 2018, up from 6% last year, according to World Tourism Organisation.4 Social media influencers specialising in travel are part of this growth story.
Fact: Globally in 2020, the number of international assignments will increase by 50% from 2010.5
Fact: Ecotourism’s popularity has been increasing with the number of eco tourists growing by around 10% annually. The increase in conservation jobs is part of this growth story.6
Working with leaders of the shared economy, Chubb has tailored insurance products for the future workers in the Asia Pacific region. Contact us if you are interested to find out how we can collaborate to serve the shared economy.
1A study by Goldman Sachs - https://www.nextbigfuture.com/2017/10/worldwide-ridesharing-at-285-billion-per-year-by-2030-will-be-pro_table-when-self-driving.html
2A study by Globalworkplaceanalytics.com published in 2017 - https://www.icmi.com/Resources/2017/Want-to-recruit-Millennials-Let-them-work-from-home
3A study by Coworking Resources - https://www.coworkingresources.org/blog/key-figures-coworking-growth
4Morgan Stanley, How is the gig economy changing the workforce, 20 Nov 2018.
5Talent Mobility 2020 by PwC, Page 6.
6The Rise of the Ecotourist, Oct 2012, Greener Ideal - https://greenerideal.com/news/1001-rise-of-the-eco-tourist/
No part of this article may be reproduced in any written, electronic, recording, or printed form without written permission of Chubb.
Disclaimer - The content of the above article is not intended to constitute professional advice. Although all content is believed to be accurate, Chubb Insurance Singapore Limited (Chubb) makes no warranty or guarantee about the accuracy, completeness, or adequacy of the content of this article. Users relying on any content do so at their own risk.
Leave your contact details and our representatives will get in touch with you.