Coverhero was born out of an unsuccessful travel insurance claim following a cancer diagnosis. For a self-employed entrepreneur, the loss of a fully paid, around the world trip for two was too much. The cancer diagnosis and the lost trip were just the beginning. The relationship failed, the shared business failed and suddenly life was no longer as it was. The experience led the founder, Naby Mariyam, to focus on developing products that would assist in maintaining a balanced life for customers.
Naby decided that with technology and the right approach, delivering a tailored product, at the most competitive price should be easy. The target market, needless to say, was based on her experience… the self employed, gig-economy worker.
Financial health and wellbeing is of paramount importance in an environment where more individuals are turning to gig work for supplementary, and even primary, income. The traditional view of the gig economy is Uber drivers and Airbnb hosts. Coverhero takes a much broader view. Hustlecover is income protection designed for the gig economy ~ it enables financial wellbeing which is integral for mental and physical wellbeing. It provides flexible fortnightly payments, income levels and benefits that match gig worker’s needs and an excess period of just 14 days*.
Our philosophy is to do meaningful work that brings mental, physical and financial wellbeing to our lives. To do achieve this, we use the Balance Wheel to bring awareness and understanding of what aspects of life are great and what aspects of life are not so great.
The eight segments of the Balance Wheel are:
The best way to use the Balance Wheel is to look at the scores across eight areas of your life. You need to keep more than 50% of it above a 5 rating.
Pick one area below 50% that you want to commit to for at least 4 weeks and write down three things that you are going to do differently in that area of your life. It does not need to be anything huge. It can be simple daily things that you could do to move the needle just a little bit. The longest journey starts with a single step.
If worrying about your family causes imbalance, deciding to protect a $500 a week income for as little as $15 a week may well be all that is needed to regain your equilibrium.
*30 days excess period applies to COVID 19 and/or pandemic related diseases
