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
Chubb’s Solutions for the Shared Economy
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.
1 A 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
2 A study by Globalworkplaceanalytics.com published in 2017 - https://www.icmi.com/Resources/2017/Want-to-recruit-Millennials-Let-them-work-from-home
3 A study by Coworking Resources - https://www.coworkingresources.org/blog/key-figures-coworking-growth
4 Morgan Stanley, How is the gig economy changing the workforce, 20 Nov 2018.
5 Talent Mobility 2020 by PwC, Page 6.
6 The Rise of the Ecotourist, Oct 2012, Greener Ideal - https://greenerideal.com/news/1001-rise-of-the-eco-tourist/