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The Gig and Sharing Economies in Insurance 2025

Publisher GlobalData
Published Sep 17, 2025
Length 33 Pages
SKU # GBDT20455887

Description

The Gig and Sharing Economies in Insurance 2025

Summary

This report offers a comprehensive analysis of the gig and sharing economies within the insurance sector. It includes an industry overview and explores the future of this evolving landscape. The report highlights key themes in the industry, evaluates the success of current initiatives, and examines potential developments moving forward.

The gig and sharing economies are revitalized concepts that have gained immense traction across various industries, largely driven by digitalization and the proliferation of mobile apps. The sharing economy involves individuals monetizing their assets, such as homes or cars, by renting them out. While this practice has existed for some time, it has transformed into a massive industry. On the other hand, the gig economy revolves around individuals offering their skills directly to customers for various tasks, receiving payment either hourly or upon completion. This model has become a global phenomenon, propelled by major players, such as Uber and Deliveroo, as well as platforms (such as TaskRabbit) that connect workers with clients. Both economies present significant opportunities for insurance and their rapid expansion has created a notable insurance gap that insurtech companies have swiftly capitalized on, establishing themselves as frontrunners in this space. Traditional insurers have recognized the importance of these trends and are increasingly seeking partnerships with the apps and platforms that underpin the gig and sharing economies.

Scope
  • GlobalData’s 2024 Emerging Trends Insurance Consumer Survey found that among the 11 countries covered, 27.1% of consumers are currently gig workers, while a further 20.1% are intending to take up additional work now. Meanwhile, 23.7% of respondents had participated in the gig economy in the last two years.
  • 42.5% of respondents to GlobalData’s 2024 Emerging Trends Insurance Consumer Survey have shared, are sharing or plan to share a property or asset they own through the sharing economy.
  • Airbnb is the most-popular P2P asset sharing site used by UK consumers according to GlobalData’s 2024 UK Insurance Consumer Survey; it was used by 59.3% of consumers taking part in the sharing economy.
Reasons to Buy
  • Understand what the gig and sharing economies are and why they are such a key trend for both workers and consumers.
  • Read about the key platforms and apps that have enabled the rise of these themes.
  • Learn about the vast insurance opportunities that these growing themes are providing.
  • Discover the leaders in these nascent insurance spaces and understand why they have had success.

Table of Contents

33 Pages
1. Executive Summary
1.1 Market overview
1.2 Key findings
1.3 Critical success factors
2. What are the Gig and Sharing Economies?
2.1 How does this apply to insurance?
3. Industry Analysis
3.1 Demand for the gig and sharing economies is on the rise
4. Case Studies
4.1 INSHUR expands services for Uber and car rental platforms with new initiatives
4.2 AXA Philippines partners with Grab and MOVE IT to launch innovative gig insurance
4.3 Allianz Partners and Uber have partnered to launch a new digital insurance solution
4.4 Aon acquired UK insurtech company Humn.ai to enhance services for sharing economy fleets
4.5 Cachet and TaskRabbit Collaborate to Transform Gig Worker Insurance in Europe
4.6 Swedish insurer If P&C Insurance and Socotra launch a new car-sharing insurance
5. The Future of the Gig and Sharing Economy
5.1 Improving pay and conditions in the gig and sharing economies
5.2 AI impact on the gig and sharing economies
6. Appendix
6.1 Abbreviations, acronyms, and initialisms
6.2 Methodology
6.3 Secondary sources
6.4 Further reading
7. About GlobalData
8. Contact Us
List of Tables
Table 1: Examples of shared economy platforms and insurance
List of Figures
Figure 1: There is significant potential for expansion in the insurance sector
Figure 2: Taxi drivers are the gig workers most likely to have obtained insurance
Figure 3: The younger generation is more inclined to enter the gig economy
Figure 4: Additional income is the number one factor driving people into the gig economy
Figure 5: The gig economy covers a wide variety of skills
Figure 6: 83.1% of taxi drivers in the gig economy went through an online platform
Figure 7: 39.8% of global respondents describe their food delivery spend as ‘medium’
Figure 8: Consumers in the Middle East and Africa spend the most on food delivery
Figure 9: Over half of global consumers order a food delivery multiple times a month
Figure 10: 13.5% of consumers from the Middle East and Africa have food delivered daily
Figure 11: 32% of UK SMEs expect the freelancers they contract to have their own insurance in place
Figure 12: Full-time workers are more than twice as likely to obtain private health insurance through their jobs
Figure 13: Over half of part-time workers would like to be offered critical illness cover
Figure 14: Over 25% of part-time workers would not want income protection insurance even if offered
Figure 15: 45.6% of part-workers would like to be offered life insurance
Figure 16: There is significant potential for expansion in the insurance sector
Figure 17: 58.9% of sharing economy participants utilize Airbnb
Figure 18: 37.9% identified the cost-of-living crisis as the factor that drove them to the sharing economy
Figure 19: Consumers globally are concerned about the state of the economy
Figure 20: Only 21.1% of individuals sharing their tools bought a new insurance policy
Figure 21: Younger generations are more likely to share their asset in exchange for a fee
Figure 22: Most individuals who made their clothes available for someone else to use did so via a platform

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