BHIB-backed provider partners with Mazuma

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The two firms have joined forces to support freelancers and micro-businesses

BHIB-backed specialist insurance firm Create Insurance has partnered with online accountancy firm Mazuma to cater to the self-employed and freelancers, as well as small and micro-businesses.

With more than two million people employed in the creative sector and a third of the workforce being self-employed, the two firms plan to offer specialist insurance products and accountancy services.

Freelancers and self-employed workers were hit hard by the lockdown imposed as a result of the Covid-19 pandemic. Although the government did step in with financial support for them in late March, some freelancers found that they were not eligible.

Partnerships director at Create Insurance, Ajay Mistry, said that Mazuma is a company that is “very much aligned to our own values and customer-centric approach”.

“Our partnership with Mazuma will ensure that our customers also have direct access to an accountancy service that understands them and their needs,” he added.

According to the Creative Industries Federation creative businesses now account for one in eight of all businesses and is deemed the fastest growing sector.

Shift from traditional working patterns

Mistry added that the sector had been growing as people move away from the more traditional working methods.

“The creative freelance economy is diverse and growing rapidly as more people than ever make the shift away from traditional ways of working,” he said. ”This can be daunting enough, and we know they need a simple and straightforward way to buy the insurance cover they need, how they want, and when they want it.”

Meanwhile, Mazuma co-founder Lucy Cohen said: “We work directly with freelancers and small businesses in the creative industries, so we understand the challenges they face, especially during this Covid-19 pandemic when many creative projects are on hold.

“We fly the flag for freelancers with our #freelancersfirst campaign because they are a key part of our economy.

“They and creative micro-businesses need expert help and advice to create a good cash flow and ensure they are viable and profitable. This is particularly important as many creatives are paid per project, rather than via a monthly salary.”

Cohen added that many freelancers and micro-businesses have been dealing with business planning issues during lockdown.

Based in Leicester, Create Insurance is part of BHIB Insurance Brokers. Create Insurance’s team is made up of former freelancers and staff with marketing experience and have tailored products to suit the firm’s target customer.

The specialist insurer provides a range of cover for freelancers, self-employed workers, and small businesses in the creative industries, such as short-term or annual policies online for public liability insurance, professional indemnity insurance, equipment insurance and employers’ liability insurance.