Art&Co. (“Art&Co.”), an initiative connecting the worlds of art, finance and support groups brings continued relief to COVID-19 victims. It is backed by PremFina (“PremFina” or the “Company”), the U.K.’s first venture capital backed alternative insurance premium finance company.
Art&Co. addresses a stark statistic that only 3% of natural disasters are covered by Insurance. Funds raised from the online auction comprised of more than 200 pieces, supported frontline charities and NGOs providing healthcare, food, medicines, and guidance to those affected by the contagion.
Art&Co. has been featured in BBC World Radio, Bloomberg, Yahoo News, Business Insider, The Independent, The Art Newspaper, Evening Standard, Gulf Today, Eastern Eye, 1883 and many more.
Art&Co. is a charitable project backed by PremFina and InsurAid. InsurAid is an industry movement that’s “unconditionally supporting the uninsurable” during such times of unforeseen catastrophes, that insurance companies are virtually unable to predict, let alone calculate and price for the risk of potential causal loss.
Painting Our World in Silver, Lisa Powis said ‘Due to COVID-19, this year has been particularly difficult for vulnerable seniors who have been isolating for many months. We are grateful and delighted to be supported by Art&Co. and their support has enabled us to deliver more craft care packages to vulnerable seniors. Our seniors are so grateful, and we thank Art&Co. for their funding.’
“COVID-19 motivated me to fly my mother over to my London home from her home in Canada, so that I could be with her during this global pandemic. As many can relate, no one wants to be barred from seeing their family. The pandemic has caused many deaths of senior citizens in care homes and hospitals around the world. Painting Our World in Silver cares for older individuals who are socially isolated by bringing them together for social activities whilst delivering care packages to the ones who need the extra help.” Art&Co. Founder and PremFina CEO, Bundeep Singh Rangar
UK charities lost billions due to the lockdown with most global COVID-19 deaths being individuals over the age of 50.
Art&Co. had 13 lots x 19 pieces each, symbolic of the COVID-19 virus. There was a collection of 247 items, representing the 24/7 viral attack worldwide.
This charitable initiative encourages both individuals and corporates to participate and bid on one-of-a-kind art representing themes connected to these trying times, such as health, nature, and spirituality. The funds raised will mostly go to frontline organisations, with the remainder going toward more than 30 freelance artists who are contributing their work and otherwise unable to sell art due to the lockdown. The artwork purchased will become a tangible display of their efforts to support those challenged in the years to come and can be used as a part of their Corporate Social Responsibility goals.
The auction supports Art&Co.’s mandate to support those affected by humanitarian disasters, public health and safety crises, focusing on events for which insurance is scarce or unavailable.
London-based insurtech firm PremFina’s shareholders include global investors Rakuten Capital, the investment arm of Japan’s Rakuten, a global leader in e-commerce and fintech, the UK’s Draper Esprit Plc, backed by Silicon Valley billionaire Tim Draper, Thomvest Ventures – the venture capital firm of Peter Thomson, whose family is known for its namesake Thomson Reuters Corp., Emery Capital, US-based Rubicon Venture Capital, London-based Talis Capital and the company’s founder.