Urban Company offers insurance cover of Rs 2 lakhs to service partners

Urban Company, the tech-enabled home services marketplace, is offering a comprehensive health insurance plan for its service partners in India.

As per the health insurance policy, all UC Plus service partners will get an insurance cover of Rs 2 lakhs, while those without UC Plus subscription will get a cover of Rs 1 lakh. The medical insurance cover will be extended to the spouse and two children as well. Additionally, the service partners can avail up to 12 free online medical consultations per year for self.

Varun Khaitan, COO & co-founder, Urban Company, admitted that “ health insurance provides a shield against unexpected medical expenses that can throw individuals and families in dire financial situation” and therefore, this “specifically-designed health insurance plan” aims “to protect our service partners from such a scenario.

Urban Company’s structured approach towards partner development and well-being revolves around four pillars — improved earnings, safety net, training and wealth creation.

This new policy is part of the Urban Company’s efforts to further strengthen the safety net it offers to its partners. All active partners on the UC platform in India are covered under the group life and accidental insurance cover. Some of the key aspects covered under the policy are life insurance (Rs 6 lakhs), disability cover (Rs 6 lakhs), accidental hospitalisation (Rs 70,000) and accidental OPD treatment (Rs 10,000).

Recently, Urban Company also announced the partner stock ownership plan (PSOP) for its service partners. Under this initiative, it plans to award stocks worth Rs 150 Cr. to thousands of service partners over the next five to seven years. This will enable Urban Company’s service partners, including plumbers, electricians, cleaners, beauticians, and massage therapists to become equal stakeholders in the Company’s growth.