Insurance Solutions for Gig Economy Participants Call for Essays
Overview
The impact of COVID-19 has been widespread and has affected the global Platform Economy landscape. (The Platform Economy is an economy characterized by economic and social activity facilitated by platforms.) The growth of platform players such as Uber, Lyft, Grab, Gojek and Delivery Hero has created more jobs and opportunities for freelancers and part time workers in delivery, transportation, education, consulting and other service industries.
The Gig Economy is characterized by activity where people earn income providing on-demand work, services or goods. In contrast to the quick growth of gig economy platforms, many platform workers can experience financial ruin by being underinsured or uninsured due to lack of growth in available financial/insurance services.
To better understand this protection gap, the Society of Actuaries Research Institute (SOA) is issuing this call for essays to further explore the opportunities and key considerations for (re)insurers when providing insurance coverages for gig economy workers.
Given the continuing desire for the SOA to provide the latest information about these issues, selected essays will be published after review, with the plan to publish a formal collection.
Content
Authors are encouraged to explore any of the following topics in-depth or choose to address a combination of topics of interest. Authors should feel free to interpret the topics either broadly or with specific applications in mind. Authors should also feel free to narrow down their essays to specific geographic markets and focus on a region of choice. Additionally, authors can focus on white-collar gig/contract work in addition to blue-collar gig/contract work.
The following are sample questions and issues for respondents to consider in crafting essays. The list below is neither exhaustive nor intended to be restrictive of other related areas:
- How does the Gig Economy work? What is the landscape of the Gig Ecosystem?
- Who are the main participants in the Gig Economy? (e.g., part time drivers for ride sharing, delivery workers, baristas, freelance tutors, programmers and merchants such as small restaurant and grocery shop owners)
- What are the current/potential protection gaps for participants in the gig economy?
- What are the potential hurdles for gig economy workers to purchase financial services such as insurance, pensions, health benefits, loans, etc.?
- What are key considerations when providing insurance coverages for gig workers and merchants? What are the current key initiatives in the market? Do some companies address the protection gap by offering their own coverages and benefits?
- Should protection plans for gig workers be expanded or mandated like compulsory auto insurance or social health benefits?
Timeline
The deadline for submissions is April 30, 2023. Essays will be published as part of a plan to publish a formal collection later in the year.
Length and Instructions for Submission
Essays must be submitted in English with a desired length of between 500 to 2,500 words. There is no requirement for formal or extensive footnoting.
Author information must be submitted with the essay and include name; credentials or designations (if appropriate); title; organization/company; e-mail address; and phone number. Please provide all author information at the beginning of the essay.
Essays that contain any overt political statements, commercial content, and other inappropriate material will not be accepted. Articles must comply with the SOA's antitrust guidelines.
Please submit your essay via e–mail to:
Erika Schulty, Research Administrator
Society of Actuaries
e–mail: eschulty@soa.org
Awards
The review committee will select the leading essays and may elect to award prize money. Up to $5,000 in award money has been set aside for this call for essays. Consideration will be given to creativity, originality and the extent to which an idea could contribute to the further development of solutions. In exchange for award money, selected authors will be required to assign all copyrights in their essays to the Society of Actuaries.
Authors are ineligible for awards if an essay is based on an SOA-sponsored and funded research study conducted by the author. However, authors are welcome to submit such essays for publication consideration.
Publication and Presentation
Depending on how many essays are received and the diversity among the topic areas, a suitable format for electronic publication and dissemination will be selected. Essays may also be presented at an SOA meeting, webcast, or other professional development event.
In addition, other venues for publication or presentation of the ideas outside of the SOA will be considered. It is hoped that publication of the collected essays will further knowledge and stimulate discussion as well as promote future efforts in this area.
Rights Granted
Please understand that by submitting an essay for consideration, the essay author(s) is granting to the Society of Actuaries Research Institute an unlimited license to print or republish their essay, with proper attribution given to the author(s).
Questions
Please direct any questions regarding this Call for Essays to:
Rob Montgomery, SOA Research Project Manager
Society of Actuaries Research Institute
e–mail: rmontgomery@soa.org