We WORK And So Does Our Mascot

At Gild, we work as a team and every team needs a great mascot to rally behind. A mascot should be the personification of your team’s character and create a sense of pride, loyalty, and connection. When a working dog was suggested to represent the team here at Gild, it made perfect sense.

If you haven’t noticed, we take pride in the work. We believe in the independent, entrepreneurial spirit and are continually impressed by the courage and determination it takes to step out on your own, pursuing your vision. 

With that in mind, we’d like to formally introduce you to Gildber!

An homage not only to those enterprising individuals embracing their independent spirit, but also, to everyone that has their backs. Gildber and the entire Gild Community is here to remind you that independence is not a solitary endeavor. We got you.


Small is Desirable

In our blog post, Work The Problem Chapter 2: Commercial Insurance And The Small Business Problem, we highlight a major issue facing the small commercial insurance market, especially as pertaining to microbusiness, freelancers, and solopreneurs. That issue is pricing. 

Underwriting an insurance product to attain a price point adequately reflecting risk and acceptable to consumers is no simple feat. That concept holds true not only for the actual work involved in creating the products, but also, to the efforts necessitated to entice an insurance provider to develop the products in the first place. Just because millions of microbusiness, freelancers, and solopreneurs exist, does not mean they are wanted

The fundamental thought process that has been plaguing the smallest of businesses since the dawn of insurance and financial services remains the same. Small is equated with less. The less profit a business generates, the lesser the opportunity to make money offering that same business products. Though that statement may be factually correct, there is now an opportunity to expand the fundamental way microbusiness, freelancers, and solopreneurs are viewed, not only by the insurance industry, but really any industry with products that could support microbusiness, freelancers, and solopreneurs.

The perception that “small is less” becomes less relevant when one realizes that a single microbusiness is not only one of tens of millions, but also, that those tens of millions can actually be reached. All of a sudden a microbusiness, freelancer, and solopreneur isn’t just a single business on main street, it is a business on every main street. The Digital Age allows for connectivity and support mechanisms for millions of microbusinesses, freelancers, and solopreneurs, no matter the location, size, or industry, creating a viable subset of the small business market. This provides motivation to insurance providers, for example, to develop coverages customized to this market, the smallest of businesses.

In this shift of perspective lies the importance of the Gild Community. Together, we assist larger businesses, like financial institutions and insurance providers, to see the bigger picture. We work to shift the perspective.

Small is desirable.

We know you always knew small had merit. But now, that knowledge is being utilized to help millions of enterprising individuals and we thank you.


Work The Problem – Chapter 2: Commercial Insurance And The Small Business Problem

The new digitally based economy not only changed the game on how consumers interact with businesses, it changed business itself. E-commerce platforms, social media, and mobile technology, to name just a few, provided resources to facilitate independence and with that, came a rise of microbusinesses, freelancers, and solopreneurs. 

In a country where small business is generally defined as employing less than 500 employees, let’s paint a more detailed picture:

  • 98% of the U.S. economy is made up of businesses with less than 20 employees
  • 87% of these businesses have no employees at all
  • 27% of the United States working age population, approximately 54M independent workers, have participated in the gig and sharing economy

Very clearly, microbusinesses, freelancers and solopreneurs dominate the economy. However, as these businesses are very aware, few insurance carriers specifically cater to their needs. This is evidenced by the estimated 50% of small business insurance customers open to switching insurance providers each renewal period. And the main underlying issue prompting microbusinesses, freelancers, and solopreneurs to switch insurance providers is…price. This failure in pricing is a failure to adequately tailor insurance coverings to these types of businesses. 

If you ask us, 50% of customers shopping around isn’t a resounding endorsement of the industry. So, ta-da! We found another problem to work; how to connect microbusinesses, freelancers, and solopreneurs to adequately priced insurance products.

Our solution – solely partner with insurance providers that specialize in microbusinesses, freelancers, and solopreneurs, with products designed just for them, priced just for them.  

Then, algorithmically match the microbusinesses, freelancers, and solopreneurs, based on numerous factors, via our wonderful chatbot, to the tailored insurance coverages. 

And done! You never have to wonder again if your insurance provider understands your business. 

Read the first post in this series, Work The Problem Chapter 1: Commercial Insurance And The Digital Sales Problem.


Work The Problem – Chapter 1: Commercial Insurance And The Digital Sales Problem

Dating back as far as 2013, industry research, by the likes of PWC, Deloitte, Mckinsey, and Accenture, has been essentially begging the small commercial insurance industry to innovate.

Report after report, year after year. 

Commercial Insurance And The Digital Sales Problem

E-commerce, social media, and a new digitally based economy changed the game. Consumers began to desire quick, seamless online experiences and self-service. It was, and is still, a monumental change for insurance providers involved in the small commercial insurance market.

In fact, monumental might be putting it lightly. Small commercial insurance sales are dominated by independent insurance agents. 76% of commercial insurance transactions in the United States are conducted via an independent agent, with the vast majority operating without transactional web or mobile sales capabilities. It has been estimated over the last several years that as little as 1% of commercial policy sales are attributed to online sales. The world went digital and the entire small commercial insurance industry, insurance providers and agents alike, felt the pressure of obsolescence at their backs.

With the pressure of failure comes the instinct to survive. Simply put, fight or flight. We knew there were insurance providers out there that would choose…fight. So, we went out and found them. Together, we work the digital sales problem; how to offer quick, seamless online experiences and self-service to small businesses.

Our current solution –  a digital only experience with online accounts, chatbot technology, real time bind capabilities and coverage options in minutes. And yes, we mean current. When the next small commercial insurance digital sales problem comes up, we’ll work that too. We choose fight and so should you. 

Read the next post in this series, Work The Problem Chapter 2: Commercial Insurance And The Small Business Problem.


Welcome to Gild

No really, welcome! 

Thanks for taking the time to peruse our website and find out a little more about us. If there is one thing you take away from this visit, please let it be this:

Every . . . single . . . day . . . we work the problems facing microbusinesses, freelancers, and solopreneurs.  Our dedication to action is what we believe makes us distinct, and hopefully, will contribute to earning your respect. 

Here at Gild, we use the latest industry research, data, and surveys to map the pain points facing microbusinesses, freelancers, and solopreneurs in order to identify the problems we can solve. And then, we get to work. At our core, we are builders, with the same independent, entrepreneurial spirit that runs through the microbusinesses, freelancers, and solopreneurs we serve. 

We welcome you to Gild, enjoy your time here, and remember to always give the nod to those striving to carve their own way.

The Gild Team