PHOENIX, AZ – March 17, 2022 – Openforce, the leading software platform for managing commercial relationships between contracting companies and their 1099 independent contractor (IC) workforce, today announced they are expanding their insurance product offerings to include non-exclusive partnerships with a large network of insurance agents.
Industries that rely on independent contractors, such as transportation, home healthcare and the gig economy, are accelerating at an unprecedented rate and adequate insurance for independent contractors is a critical component to their success.
“Times have changed. Historically, finding the right insurance coverage for our clients’ independent contractor workforces meant capturing their regulatory requirements within a specified budget. For the most part, our clients consistently needed Occupational Accident, Contingent Liability and maybe Cargo insurance in some instances,” said Wendy Greenland, CEO at Openforce. “But now, industries utilizing ICs have broadened so much that we are seeing many of Openforce’s clients looking for much more dynamic insurance coverage that caters to an increasingly complex on-demand workforce.”
Openforce recognizes the need for evolving insurance programs and understands that by expanding the Openforce network of insurance partners they can offer a wider portfolio of products that address changing industry requirements.
“Providing independent contractors with the best insurance coverage tailored to their unique needs is made possible through our technology-enabled strategic partner. Through a trusted network of insurance agencies and partners, we’re able to customize the ideal combination of affordable coverages that meet contractual requirements and best practices as well as reduce misclassification risks,” said Rhonda Weston, VP of Insurtech Sales at Openforce.
Openforce® is the leader in technology-driven services that reduce operating costs and mitigate compliance risk for companies using independent contractors. Openforce frees contracting companies from the burden of onboarding, contracting, and settlement processing while helping independent contractors build their business. Our cloud-based applications help businesses achieve more sustainable, profitable growth by removing financial, operational and compliance barriers to getting business done. Openforce is a portfolio company of Boston-based private equity firm Riverside Partners. Learn more at www.oforce.com.
To learn more about Openforce’s insurance solutions and partnerships, visit www.oforce.com/solutions/insure.