Digitization is revolutionizing the way we work.

And it is destroying jobs – at all levels and in all industries. How can you protect yourself against the financial consequences?

New job – less money? New jobs are being created – but unfortunately not for everyone. And not everywhere.

Many new jobs are paid less than the old ones. Could you afford a permanent loss of salary?

More frequent job changes The cycles in which employees are forced to reorient themselves are becoming shorter and shorter.

The need for lifelong learning and training is increasing. Do you know what you need to do to keep pace with digital change?

Do you fear ending up on state benefit? For most of us, state unemployment benefit is way not enough to maintain our current standard of living.

Are you paying a mortgage? Are you the main breadwinner for your family? How long could you live off inadequate state benefits?

Looking into the glass ball How will the labor market of the future develop?

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Perspectives for the future

Are you moving out or moving up? The new job profiles that are emerging with digitization are mainly being created at the two extremes of the income scale.

Very few well-paid jobs, such as data analysts and programmers, stand in stark contrast to a broad expanse of low-paid jobs. Experts are already talking in terms of the “uberizing” of the labor market.

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Percent of people fear for their jobs

According to a survey by Ernst & Young, one in six employees is already worried about his or her own job as a result of digitization.

Bear in mind that this figure dates from 2017 – the ninth consecutive year of an upswing. How do you think this value will develop when the economy goes into decline?

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Percent fewer jobs due to automation

This was the conclusion reached by researchers at Oxford University for American workers. In total, the research project put 702 occupations under the microscope.

And in Germany? How high a risk does automation pose to your job? The Futuromat of the Institute for Employment Research (IAB) offers you an initial assessment. Click on the link below to see how your current job might be affected.

ewa – securing your basic income through insurance

We help to reduce your risk of losing your job due to technical progress. And if you do nevertheless become unemployed, we provide protection against the financial consequences.

Basic income through insurance

State unemployment benefit is not an option for you?

ewa offers you an alternative to state benefits and regular trips to the job center. You decide on the amount and duration of your ewa basic income.

Fair prices

Your premiums are based on your individual risk.

By calculating the automation risk to occupation A in sector B and region C, we are able to create a transparent and fair premium for your specific circumstances.

Application coaching and more

Of course you don’t want to lose your job.

We help you become fit to meet the challenges of digital change. And if the worst comes to the worst, we offer application coaching, further training opportunities and more via our ewa platform.

The ewa basic income Not unconditional – but affordable

You like the idea of an unconditional basic income? So do we.

At the same time, however, we fear that it will be difficult to implement politically. Our basic income concept offers a viable interim alternative that already works today. With ewa, you win time to reorient yourself professionally – without pressure from the job center and with greater financial leeway than state unemployment benefit would allow you.

Frequently asked questions

What requirements do I have to meet in order to take out ewa basic income insurance?

If you live in Germany, you need to be employed for an indefinite period and without notice in an employment relationship subject to social insurance contributions. Your job must comprise more than 50 percent of a full-time position. The maximum age at the time of signing the contract is 52 years. These basic conditions may differ if your normal country of residence is outside Germany. Get in touch and talk to us about your precise needs.

When does my insurance cover take effect?

There are several conditions that need to be met in order to receive your ewa basic income. First, you must have lost your job due to redundancy and be entitled to receive state unemployment benefit. Second, you must still be looking for a job after your initial benefit period has expired. This is the point at which your ewa basic income kicks in. This is the case in Germany. If you live and work in another country, get in touch to find out what conditions apply in your case.

Why don’t you pay during the initial benefit stage?

Simply to keep your premiums as low as possible. We could provide basic income protection right from the start of your unemployment but it would be far more expensive. In addition, your initial loss of income will be painful but will probably not threaten your existence. However, after that initial period, few of us could get by on state benefits – especially if we are paying a mortgage or are our family’s main wage earner.

Why do you only pay for a limited period of time?

The basic income protection we are offering is completely new. We are breaking new ground in terms of risk calculation and cover. No one has done this before. Of course, we’d love to be able to provide an answer, right now, as to what people are supposed to live on when machines do most of the work. However, because of the many variable factors involved, we have not yet been able to calculate the risk of lifelong income benefit and to design an appropriate insurance product. But we are working on it…

Why should I trust you? We all know that insurance policies promise a lot, but when it comes down to it...

Because we are in the industry, we are all too aware of the problem of “small print”: the labyrinthine conditions and exclusions that often seem deliberately designed to confuse. That’s why a central part of our offer is to tell you precisely what your costs are, where your money goes and what your benefit will be. So here’s how our basic income protection product works…

Your premiums will consist of a defined proportion to cover our admin costs (e.g. 20%) with the remainder (e.g. 80%) going wholly to support your benefit payments. If your benefit fund is insufficient in the event that you do need to make a claim, the shortfall will be covered by a reinsurer. You can find out what a reinsurer is and does here. We pay the reinsurance premiums out of our admin costs. If anything remains at the end of this process, the surplus money flows back to you in the form of further training offers or contribution credits. To put it simply, we have nothing to gain from rejecting a claim.

How do you plan to calculate the premiums?

Good question. Basically, we use exactly the same technology that is responsible for the automation risk to your job in the first place. With the help of machine learning and the analysis of very large amounts of data (big data), we calculate a risk score for your profession in your industry and the region in which you work. To do this, we use tools that were previously used primarily to calculate credit default risks (the risk of borrowers not being able to pay their debts) or to help capital investors hedge currency and interest rate risks (bet on whether those rates will go up or down). We combine this score with the results of sentiment analyses of reports on the Internet. In other words, our motto is “Fight fire with fire!”

What happens if the state introduces an unconditional basic income?

We have no interest in selling anyone anything they don’t need. Should the state ever introduce an unconditional basic income, you have a special right of termination in your policy and will get back the proportion of your premiums that was intended to cover your benefits (e.g. 80%).

Nobody needs this kind of insurance: technical progress has always created more and better jobs.

For the previous industrial revolutions, that was indeed the case. And it may even prove to be true of this fourth industrial revolution – eventually. However, one glaring fact that is rarely included in such debates is this: the transition periods between one industrial phase and the next can be long and hard and full of pain for many people. What does it matter to you if more net jobs are created if you don’t happen to live in the right part of the world to benefit from them? Or if the new job you do get pays less than your old one?

Added to this is a completely new, potentially killer aspect. During the previous industrial revolutions, for every manual job lost a new job was created for people who could think and were mentally agile. But what might happen when machines can compete with us on this territory too? No one has the answer to that yet. Many of us refuse even to think seriously about the potential consequences. But it is precisely this risk that inspired the creation of our basic income protection product.

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