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.
33 artists were featured as a mosaic of the UK population at large with 80% UK artists and 20% foreign; International artists from Australia, Bulgaria, Canada, Czech Republic, India, Italy, Latvia, Nigeria, Poland, Portugal, Russia, Singapore, Slovakia, Spain and the United States.
Art&Co. has had press in BBC World Radio, Business Insider, Evening Standard, Yahoo News, The Independent, The Resident, Eastern Eye, 1883, Gulf Today, The Art Newspaper and many more.
“Like the NHS, care workers are our unsung heroes during COVID-19. Without them, our grandparents, parents, sisters, brothers and loved ones in care homes would go unattended and suffer from lack of help: leaving them isolated and vulnerable during their time of need. COVID-19 has left many individuals helpless without the support of their families due to restrictions. The Care Workers Charity looks after the wonderful people who look after our loved ones.” Art&Co. Founder and PremFina CEO, Bundeep Singh Rangar
Silicon Valley tech investor Tim Draper hosted the last live auction event to drum up donations for the live Art&Co. auction, selling works of art from over 30 emerging artists as well as Pablo Picasso, Salvador Dali, Andy Warhol and Jeff Koons.
“We don’t heal in isolation but within a community,” said Bundeep Singh Rangar, PremFina’s CEO and Art&Co. founder. “Art&Co. enables finance and insurance companies to support organisations assisting those suffering from the immediate effects of the coronavirus as well as consequential mental health or domestic violence difficulties.”
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 Care Workers’ Charity, Emily Barnett said “The Care Workers’ Charity was delighted to be involved in this fundraising auction to raise money for people in need. The Care Workers’ Charity exists to help the social care workforce, a workforce that is underpaid and not given the respect it deserves. Care and support workers have risked their lives to care for the most vulnerable members of society. Yet, many people in this valuable workforce have required support to feed their families and maintain a place to live after losing their income due to COVID-19. Since March, the charity has helped almost 3000 care workers. The money raised by Art&Co. means we are able to support more care workers which is most valuable during such a challenging time.”
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.
COVID-19 facts regarding domestic abuse, ICU patients, and the creative industry:
In April 2020, calls to the National Domestic Abuse helpline rose by 120 per cent overnight on 6 April while traffic to Refuge’s website rose by 700 per cent from the previous day.
In October 2020, the number of rape cases referred increased by 15%, domestic abuse cases increased by 8% and child abuse cases rose by 9%. https://www.theguardian.com/law/2020/oct/22/prosecutions-for-crimes-against-female-victims-in-uk-dropped-amid-referral-rise-lockdown-covid
Rates of delirium for patients in the intensive care unit (ICU) have skyrocketed in the coronavirus disease 2019 (COVID-19) pandemic. https://www.ajmc.com/view/risks-of-developing-delirium-in-icu-patients-with-covid-19
Before the pandemic, the creative industries were one of the fastest-growing sectors of the economy, contributing £11 billion in 2018. https://theconversation.com/how-coronavirus-has-hit-the-uks-creative-industries-147396