SafetyWing

Targeting the global community of remote workers, SafetyWing had a well timed launch prior to the Covid Pandemic. As teams were forced into remote or hybrid set-ups, ‘workcations’ became normalised. By some reports the US digital nomad community ballooned by 50% to nearly 11 million, and more countries green-lit ‘Digital Nomad Visas’. Many of these require travellers to maintain their own medical insurance. So SafetyWings’ offerings are likely to slot neatly into the growing market as it continues to open up.

The company operates across more than 180 countries, and there is relatively little competition in this space due to the complexities of the heavily regulated insurance industry. This complexity will continue to challenge SafetyWing when new rules are being introduced. The company raised $8 million in 2021. They are planning on using this funding to hire more talent and expand their product offerings.