Urban Company, the home services company, said on Monday it would provide health insurance to its service partners by partnering with ACKO Insurance.
“Health insurance provides protection against unexpected medical expenses that can put individuals and families in dire financial straits,” said Varun Khaitan, COO and co-founder of Urban Company. “To protect our service partners from such a scenario, we are introducing a specially designed health insurance plan.”
The company’s service partners will enjoy an insurance cover of Rs 2 lakh. The policy will also provide family medical insurance for the spouse and two children and up to 12 free medical consultations per year. This is in addition to existing group life and accident insurance coverage. Service partners without UC Plus subscription will enjoy health insurance coverage of Rs 1 lakh, with up to 12 free medical consultations per year for self, along with the existing benefits of life and accidental insurance coverage of band.
“We are excited about this partnership and will continue to refine the benefits with more experience to make it a one-stop-shop for Urban Company service professionals to access all of their health insurance needs,” said said Brijesh Unithan, Senior Vice President of Partnerships, ACKO Insurance. .
Urban Company said the insurance coverage is part of its efforts to strengthen the safety net of its partners. All partners active on the UC platform in India are covered by the group life and accident insurance cover. Some of the major aspects covered by the policy are life insurance (Rs 6 lakh), disability cover (Rs 6 lakh), accidental hospitalization (Rs 70,000) and accidental OPD treatment (Rs 10,000) ,
Recently, Urban Company also announced the ‘Partner Stock Ownership Plan (PSOP)’ initiative for its service partners. Under the initiative, the company plans to allot shares worth Rs 150 crore. to thousands of service partners over the next 5-7 years. This will allow Urban Company’s service partners, including plumbers, electricians, cleaners, beauticians and massage therapists, to become full players in the company’s growth.