ShearShare Partners with Insurance Leader for First-of-Its-Kind Usage-Based Insurance Products

Every booking on ShearShare is now covered by $1,000,000 in liability protection, and stylists can purchase professional liability insurance by the day

ShearShare, the largest provider of on-demand salon and barbershop space rentals worldwide, today announced a partnership with Bigfoot Insurance, a Coverholder at Lloyd’s of London, and ibott, leaders in providing insurance to the sharing economy, to give users access to a custom portal to buy coverage specifically tailored to the ShearShare community.

ShearShare users will now be able to access usage-based insurance products to help them gain coverage when reserving workspace on the ShearShare platform.

“While most standard insurance markets would decline this type of business, Bigfoot and ibott accepted our unusual insurance risk because they see the value in our beauty and barbering industry and in the growing sharing and gig economies,” says Courtney Caldwell, cofounder & COO of ShearShare.

“We have the largest database of on-demand salon and barbershop space rentals and the most affordable leases in the market,” shares Dr. Tye Caldwell, cofounder & CEO of ShearShare and a 30-year beauty and barbering industry veteran. “With that comes the responsibility to alleviate host concerns so that they can get back to managing their small businesses safely and with confidence. For the individual stylist, our industry has never had the opportunity to advantage itself of a pay-for-what-you-need model; as ShearShare continues to pioneer B2B tools that meet our professionals where they are, it’s important that we partner with experts to support these business owners, especially as they rebound our local economies.”

Chris Moore, Head of ibott, says, “We are especially excited about the partnership with ShearShare because they are helping to revive small businesses during an unprecedented time in our history. As they continue to serve users with tenacity and resilience, we want to support that growth and be the enabler for new progressive business models like ShearShare. We are proud to provide coverage that is tailored to their level of exposure.”

Martin Burlingame, CEO of Bigfoot says, “Bigfoot’s long-standing brand promise of ‘delivering policies with hair’ fits the partnership with ShearShare quite naturally. We’ve utilized our rapid deployment engine HeyAlpaca to issue and distribute policies in alignment with their mobile platform. The gig economy is driving the future of work, and we are proud to support ShearShare on their journey.”

For more information, visit https://shearshare.com/professional-liability-insurance/ 

About ShearShare

ShearShare is the first machine learning-enabled marketplace that allows salon and barbershop owners to rent their excess suites and booths to licensed cosmetologists and barbers by the day. The ShearShare mobile platform gives owners a chance to make efficient use of their excess space by providing independent stylists short-term access based on a time and price that’s convenient for them. Launched in 2017, ShearShare currently serves industry professionals in more than 625 cities and 11 countries. For more information, visit ShearShare.com.

About ibott

ibott, an Apollo brand, insures some of the largest sharing economy and innovative companies in the world. ibott uses technology and innovation to provide service and solutions for their clients’ needs.

About Bigfoot

Bigfoot, a Coverholder at Lloyd’s of London, is a managing general agency and the country’s foremost expert in insuring Gig Economy platforms and contractors as well as other hard-to-place risks. Focused on offering solutions for the small to mid-sized agency, Bigfoot offers specialty programs across all 50 States. Bigfoot is the DBA of Commercial Insurance Group.

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