Powered by our proprietary AI risk engine, Demandoo is a leading provider of on-demand insurance that makes coverage of freelance, flexible and temporary workers more affordable, efficient and customizable than traditional insurance models.
Backed by global insurers, Demandoo partners with gig economy, new mobility and other disruptive platforms, to enhance business with tailored on-demand insurance coverage, providing users with a plug-and-play insurance solution.
Demandoo’s vision is to be the global leader of on-demand insurance, providing both digital platform-based gig businesses and direct end-users innovative usage-based solutions that fit their specific needs.
How did you come up with the idea for the company?
Demandoo was co-founded by Ohad Madanes (CEO of Madanes Insurance Group, Israel’s leading insurance group) and Dean Stern (a serial entrepreneur & founder of Stern Global Group).
Upon international delivery platform Wolt’s entrance to the Israeli market, it started searching for a like-minded insurance partner who could provide its courier partners with on-demand insurance coverage. Ohad and Dean identified the need for their data-driven, on-demand insurance solution and went to Helsinki to present it to Wolt’s founders.
With the go-ahead from Wolt’s founders, Demandoo was born and its insurance coverage went live shortly thereafter on July 1, 2020 (for more details about the Demandoo x Wolt partnership, please refer to this article).
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How has the company evolved during the pandemic?
The pandemic has only further accelerated the world’s reliance on digital, on-demand platform-based business and the growth of the gig workforce as Covid-related disruptions to employment have increasingly led people to take on new or additional gig jobs.
This shift has highlighted more than ever the need for innovative new insurance models that are compatible with the gig economy business that is operated through digital platforms.
Since our inception at the height of the pandemic, we’ve continued to see growing interest in our platform from potential partners and clients in various industries and around the world, as the gig economy’s needs continue to evolve in the face of market growth and growing regulations.
What can we hope to see from Demandoo in the future?
In addition to significantly growing our team, our future roadmap includes further expanding our platform, and further establishing our global footprint.
Currently, Demandoo provides coverage for Personal Accident (PA), Third Party Liability (TPL), and/or Professional Indemnity (PI).
We’re planning to expand our offering in the near future to other types of coverages, including but not limited to eCommerce Insurance, Property Insurance, Credit Insurance, and several others.