Many people get into the gig economy for flexibility – flexibility of time, ability to earn, etc. But it’s clear that the gig economy also leaves something to be desired: namely, benefits. Today, I’ll be talking with Nick Katz of Kover, a portable benefits company for gig workers.
Check out this episode’s sponsor, Kover. Get benefits as a gig worker, like income guarantees, sick leave, accident protection, legal assistance and more. They’ll also help you out if you get deactivated and have plans that start at just $7 a month. Use our link here to get your first month with Kover free!
Intro to Nick Katz
- Head of Development at Kover
- Spent most of his career making partnerships around the gig economy
- Worked at EventBrite and almost every major gig marketplace
- Kover focuses on providing a financial safety net for gig workers
What Does Kover Do for Gig Workers?
- Kover is an income protection product
- If you get into an accident or deactivated, Kover replaces the income you would have earned
- Bridge gap and prevent gig workers from going into debt
- For drivers wrongly deactivated, Kover also works with LegalRideshare
Origins of Kover
- Originally began with the idea of a risk-sharing platform
- Not hundreds of millions of dollars
- Average drivers typically have around $1000 for a rainy day
- However, this likely wouldn’t cover a month of not being able to work
How Does Kover Work?
- Integrates with gig companies – public AI
- Drivers link their accounts, which allows Kover to validate income and remain HIPAA compliant
- Better to sign up before you need it!
- You can sign up after you’ve been deactivated and Kover will send a deactivation letter for you
Employee vs. IC Debate
- Speaking on his behalf, there should be another type of employee classification
- Gig workers do it all – actively seeking clients, manage their own HR
- Drivers and delivery workers outsource some of this to the apps themselves
- Regulations have not caught up with technology
If Drivers Became Employees, How Would it Affect Kover?
- Working on this question right now!
- Working with different groups in order to scale Kover up
- ‘Third way’ of employment would be most beneficial
- Bottom line: a new category of gig worker must work for the drivers themselves
- Big thanks to Nick Katz for coming on the podcast and sharing his take on the employee vs contractor debate
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