As employment becomes more flexible, an increasing number of people are embracing the digital nomad lifestyle, working remotely while traveling the world. However, this shift has outpaced the development of social services, leaving digital nomads struggling to secure essential benefits like health insurance and pensions while maintaining their mobility.
Nomad Security
Health Insurance and Pensions for Digital Nomads
Finance
Health
Finished
At the time of carrying out this project, Accelerate had a wider goal of supporting public/private partnerships, which later evolved to a more narrow focus on unlocking new markets by overcoming regulatory barriers.
Introduction
Problem
Today, people are no longer traveling just for leisure; with jobs that require only an internet connection becoming more common, many employees are mobile and location-independent. Digital nomads, in particular, often lack a permanent residence or traditional employment ties.
As global citizens, digital nomads frequently find themselves in situations where, due to the absence of a fixed residence, they do not meet the traditional residency requirements of any country. This leaves them without access to essential social services, which are typically designed based on residency principles that do not align with the modern work-life dynamic.
Thus, digital nomads face a complex challenge — how to secure health insurance and a pension without having strong ties to any specific country?
Solution
The goal of the Digital Nomads project is to create services that cater to the needs of the new global workforce through collaboration with private sector partners and government agencies.
Currently, both the public and private sectors offer health insurance and pension plans. However, neither sector has made significant efforts to provide social services that accommodate the changes in residency and employment relationships that have occurred over the past decades.
Nomad Security is creating a solution to provide digital nomads with access to health insurance and pension plans — backed by the private sector and overseen by Estonia, one of the world’s most digitally advanced nations.
End Goal
Access to healthcare and securing a pension is crucial for every individual, regardless of their location or employment status. The solution aims to offer digital nomads the same stable social services as those in traditional work arrangements, providing them with peace of mind regarding their health and future retirement.
Outcome
The team developed “Travel Health+,” a hybrid product designed to provide global nomads with comprehensive coverage for both travel and health emergencies, wherever they are in the world.
This innovative policy included telehealth services and a portable digital health record, ensuring consistent healthcare support no matter the nomad’s location. However, quantifying the digital nomad community proved complicated, and ultimately, the project was not pursued further as the Health Insurance Fund did not find the financing model feasible.
