ZomWork Strengthens Local Gig Economy With Protection for Self-Employed Professionals
 
Sep 11, 2018
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A new initiative - launching at ‘The Future of Work’ will offer financial protection for Self-Employed Professional

Singapore, 5 September 2018 - ZomWork, a joint venture talent outsourcing platform between Singapore Press Holdings and ZBJ Network Inc, has today announced a pilot launch of a locally available financial protection initiative for self-employed professionals in Singapore. This financial protection will cover self-employed professionals in the event of illness or if they are unable to work.

This new initiative is in line with ZomWork’s objective to accelerate the growth of the local gig economy. With Singapore expecting a growth in self-employed professionals, aided through the continued adoption of technology, this new scheme will afford much-needed protection to a growing pool of self-employed professionals.

The pilot programme will be offered free to existing and new ZomWork users who are individuals or are a group of professionals within a self-registered business without existing group insurance. Under the protection scheme, self-employed professionals using ZomWork will be insured for up to 6 months of their income. This protection will cover lost work hours in the event of illness or if professionals are unable to work, and they can claim up to $50 per day. After the free pilot period of 6 months are up, professionals will have the option of continuing the protection from as low as $2.26 per week.

This initiative is part of ZomWork’s larger strategy of providing tools for both self-employed professionals and companies to better engage with each other in the gig economy. Some of these tools include a monetary escrow service for secured payments, a robust communication platform to navigate timeline and milestones, and a dispute management team. These tools have helped build a thriving community of companies and self-employed professionals with over 2000 joining the platform since ZomWork’s official launch in April this year.

"As a self-employed individual, I enjoy the flexibility of contract work. However, like other freelance professionals, I worry about financial sustainability. This protection will allow me to focus on growing my business while safeguarding my income during unforeseen circumstances,” said Elena Owyong, Content Strategist, and Copywriter.

Mr. Jason Teo, General Manager of ZomWork, said: “As technology and globalisation become more ubiquitous, we are seeing the adoption of the gig economy take off in Singapore, where we have a relatively large pool of experienced self-employed professionals. Our goal is to give both these professional talents and companies the tools to better find and engage with each other.”

Mr. Ang Hin Kee, Assistant Director-General of the National Trades Union Congress and Director, NTUC Freelancers and Self-Employed Unit, said: “The initiative by ZomWork is in line with the Tripartite Workgroup’s recommendation for an insurance product to strengthen the income security of self-employed persons. We welcome such efforts by platform intermediaries and freelancer communities that can help facilitate the group purchase of such insurance product and share these gains with freelancers.”

To officially launch this new initiative and engage with both professionals and companies who are leveraging the gig economy, ZomWork will be holding their first ever gig economy conference to reshape work for ‘The Future of Work for SMEs’ on 6 September 2018, at Marina Bay Sands.

For more information: The Future of Work Event

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About ZomWork
ZomWork is a one-stop online professional services marketplace - A joint venture between Singapore Press Holdings (SPH) and ZBJ Network Inc. ZBJ-SPH Pte Ltd is one of the commercial pacts under the Chongqing Connectivity Initiative which is Singapore-China’s 3rd government-to-government project.

ZomWork aims to connect companies with the right talent in areas such as design, IT, marketing, copywriting, video production and more. The robust marketplace allows companies in Singapore to compare portfolios and prices of talent. In addition, ZomWork manages payments for the duration of the project - allowing talent and companies to focus on their core business and giving them the tools to secure and deliver projects faster.

For more information: https://www.zomwork.com

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