Trezeo today announced a major extension to its existing offering, that enables independent workers to access a wider range of urgently needed product ‘bundles’. Trezeo’s financial security platform for independent workers already includes a business account, income balancing, personal accident insurance and a control centre to understand and manage financial needs.
The population of independent workers is growing fast, but it remains economically vulnerable in the absence of the benefits and protection that comes from standard employment. At present, there are five million independent workers in the UK alone, and self-employment is projected to exceed standard employment within a decade.
In response to this pressing societal need, Trezeo has now introduced two new bundles: a ‘Wellness’ bundle, which includes medical support and an enhanced personal accident insurance, and a ‘SickPay and Cashback’ bundle, which protects independent workers who are unable to work due to sickness or disability. The second bundle also offers access to discounts and cashback on everyday spending to help independent workers’ money go further.
The launch coincides with the adoption of Trezeo by major digital labour platforms. In January 2020, Labour xchange announced its intention to provide Trezeo membership for all its social care workers. Other platforms are set to follow suit, as they move to recognise the need to provide more benefits and protection to workers.
Garrett Cassidy, CEO and Co-Founder of Trezeo said “For a lot of people, independent work gives them more personal freedom, but this shouldn’t come at the expense of financial security. Whether it’s protecting earnings in the case of an accident, gaining the reassurance of speaking to a doctor at any time or having access to essential sickness cover, our Trezeo members now have additional peace of mind by selecting what they need from the most extensive range of additional protection for independent workers available today. And we provide all this at a small additional cost, equivalent to a cup of coffee per week, which we hope will increasingly be borne by the platforms they work with.”
Jonathan Key, co-founder and CEO of Labour xchange said “Most people don’t realize how stressful it is to be an independent worker. They work long hours and so, like all of us, they have limited bandwidth for their financial affairs. The difference is that crises come along all the time because they don’t have any buffer in case of a day off sick or an accident or a broken down washing machine.“
Jonathan added: “We are delighted that the care-workers who use Labour xhange to find work will benefit, on top of Trezeo’s existing range of financial services and personal accident insurance, from additional financial peace of mind and the increased financial stability they deserve, through benefits like sickness insurance and online medical advice.”