Can Platform Companies be the Precursor for New Age Cooperatives for Gig Workers?

Over the past decade, the gig/platform economy has experienced substantial expansion due to the adoption of technology and its ability to cater to various everyday needs. Consequently, informal work arrangements have proliferated and are characterized by diverse employment structures distinct from traditional contracts. Projections indicate that the global gig economy will reach a value of $50 billion by the decade's end, engaging over 500 million individuals. However, gig workers face vulnerability to health and economic crises without the safety net of contractual social benefits. Mutual insurance, with its longstanding history of providing crucial financial coverage and risk management solutions, offers a potential avenue for addressing these challenges. This paper examines how the mutual care model can capitalize on the platform economy's growth worldwide, proposing solutions to urgent issues concerning the health and economic welfare of a significant population lacking access to formal social security benefits within an informal work setting. [ABSTRACT FROM AUTHOR]