EPISODE · Sep 21, 2022 · 41 MIN
Mike Minett: Portabl for gig workers
from Scouting for Growth · host Sabine VdL
In this episode of the Scouting for Growth podcast, Sabine VdL talks to Mike Minett, CEO or Chief Ideas Guy at Portabl. Portable is a platform and community that provides insurance, benefits, and savings products for freelance and self-employed professionals. In this podcast, Mike and Sabine cover: Why Mike decided to move from consulting to building an InsurTech focused on the future of work, what Portabl’s focus and core proposition are, what is required to build a gig economy-focused startup, and a little bit of ESG and the Future of Tech. KEY TAKEAWAYS We exploded out of the gate and got some opportunities in the US, which was probably too big for us for where we were at in our journey. So, we decided to come back and technically build and launch again out of London. Then we got a bit of Covid interruption when we were due to close our first round of funding in March 2020, and things fell apart at that point, but interestingly, Portabl and our proposition to serve and support the independent, freelance, and gig world of work continued to be interesting, and Covid accelerated everything. So, on the one hand, we lost time, but actually, I think the timing will work out even better for us as we prepare to finally launch into the market. It’s been a journey! We want to create a portable structure that wraps around the individual and follows them with whatever they’ve got going on, whatever pieces of work they might have on the go, for whichever client they might have on the books, and ultimately, across any geographies that they might be traveling to and working through. The old model no longer fits the way people are choosing to live and work. Building an insurance business has its challenges, especially given regulatory constraints and risk-profiling requirements, which is our secret sauce – ‘frisk’, our freelancer risk. People’s underwriting score and credit score both drop simply because they’ve become independent, yet this is the same person with the same network, the same skills, and experiences, and potentially the same career trajectory. Why should they face biases and penalties just because they are independent? The only reason is that the models are built for the old world. At Portabl, we’re trying to tackle risk profiling through data and analytics, gaining a better understanding of these individuals to present that story back to our insurance and credit partners on their behalf, so they get a better, fairer deal. We try to free up a lot of time and stress for our customers so they can concentrate on their work. Insurance for good is a good thing, but people don’t wake up in the morning and say, “I wish I had more insurance.” They don’t even know what they have, what they don’t have, what they should probably have, and that it’s a lot more affordable than they probably think. A lot of our insurance plans come with really nice features, like access to a virtual GP, counseling and mental health support, physio, etc. BEST MOMENTS ‘The fear of startups and the whole concept is that you need to be doing more faster and you’re constantly watching the clock.’ ‘By 2023, 50% of the world’s workforce is going to be working independently in some shape or form. Who’s looking after this new 50%? While there are few today, they will become a major part of the working population tomorrow. That was the genesis for the idea of Portabl.’ ‘As an independent, it’s precarious if you lose your health. Your health impacts your ability to earn. And if you lose your ability to earn, this also impacts your health. We really concentrate on the health and well-being piece by trying to keep our members happy, healthy, and productive.’ ‘The laptop and the mobile phone are the most critical business tool for many of us, do you have them insured? You really should, because all your data, your IP address, and your knowledge are likely to be on your phone or laptop. Independent workers don’t have the company to replace the phone or laptop.’ ABOUT THE GUEST Mike Minett is the CEO and founder of PORTABL. co, an all-in-one, data-driven platform providing portable insurance, benefits, and savings products to the world's freelancers and gig economies – nicely wrapped up in a single monthly membership bundle. PORTABL.co does the heavy lifting for these new and typically underserved markets, saving members’ time, money, and stress with easy-to-understand and use risk and financial products. Mike is no stranger to disrupting the market with unique perspectives on the twenty-first-century workplace – driven by a rich understanding of the impact of demographics. After a 20-year consulting and management career across fintech, insurance, and risk management for global investment banks, Mike launched The Positive Ageing Company, a SaaS-based data business focused on addressing the challenges and opportunities of the global aging workforce. That start-up was acquired by MMC Inc. (Mercer) in 2016. PORTABL.co is empowering the world's independent workforce and the future of work. Portabl has built the world’s smartest platform and community, providing flexible financial wellbeing, health benefits, and insurance products to the 50% of the workforce living and working in gig-based economies. At its heart is our proprietary FRISC Score – set to challenge traditional underwriting and credit scoring of independent workers. Never has our mission to better serve and support the world’s independent workforce been more important and relevant. ABOUT THE HOST Sabine VanderLinden is a corporate strategist turned entrepreneur and the CEO of Alchemy Crew Ventures. She leads venture-client labs that help Fortune 500 companies adopt and scale cutting-edge technologies from global tech ventures. A builder of accelerators, investor, and co-editor of the bestseller The INSURTECH Book, Sabine is known for asking the uncomfortable questions—about AI governance, risk, and trust. On Scouting for Growth, she decodes how real growth happens—where capital, collaboration, and courage meet. If this episode sparked your thinking, follow Sabine VanderLinden on LinkedIn, Twitter, and Instagram for more insights. And if you’re interested in sponsoring the podcast, reach out to the team at [email protected]
What this episode covers
If 50% of the workforce is going independent — why are we still insuring like it’s 1995? In this episode of Scouting for Growth, Sabine VanderLinden speaks with Mike Minett, Founder of Portabl, about building protection infrastructure for the future of work. The old model was simple: your employer handled your insurance and benefits. That world is fading. Freelancers, contractors, digital nomads, and gig workers now represent a rapidly growing share of the global workforce. Yet when someone becomes independent, their underwriting score often drops. Their credit score may drop. Not because they are riskier — but because models were built for employment stability in a previous era. Mike calls this structural bias out directly. Portabl’s mission is to create a portable structure that wraps around the individual — across clients, contracts, and geographies. Insurance, health benefits, savings tools — bundled into a membership that moves with the worker. At the core sits the FRISC Score (Freelancer Risk Score), designed to challenge traditional underwriting frameworks by using data and analytics to tell a fuller story about independent professionals. The stakes are high. For gig workers, health directly impacts earning capacity. Lose your health, lose your income. Lose your income, health deteriorates. Breaking that cycle requires proactive wellbeing support — virtual GP access, mental health services, physio — integrated into protection models. Building this wasn’t linear. Portabl initially expanded too quickly into the US. COVID disrupted early funding rounds. But paradoxically, the pandemic accelerated the shift toward independent work — strengthening the long-term thesis. Mike also highlights a practical blind spot: for many independent workers, their laptop and phone are their business. Lose either, and operations halt. Yet many freelancers don’t insure their most critical productive assets. Portabl’s approach blends insurance, data science, and community to remove friction, reduce stress, and give independents fairer access to protection and credit. This episode is essential listening for: Insurers exploring gig economy strategies Investors evaluating future-of-work platforms Policymakers addressing workforce protection gaps Founders building membership-based financial ecosystems Because the independent workforce is not a niche. It is becoming the norm. And the institutions that redesign risk models around individuals — not employers — will shape the next era of insurance. The question isn’t whether the future of work is portable. It’s whether protection will be too.
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Mike Minett: Portabl for gig workers
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