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Urban Company with ACKO Insurance deploys health insurance for service professionals

By on May 24, 2022 0

Health insurance plan to benefit over 40,000 service partners in India

Service partners can benefit from up to 12 free online medical consultations per year

Urban Company already provides group life and accident insurance coverage to all service partners associated with the platform

Mumbai: Urban Company, Asia’s largest technology-enabled home service market, today announced the introduction of a comprehensive health insurance plan for its service partners in India. The company has partnered with ACKO Insurance to develop this insurance coverage.

Under the new health insurance policy, all UC Plus service partners will be provided with insurance coverage of INR 2 lac. 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 INR 1 lac, with up to 12 free medical consultations per year for self, plus existing benefits of group life insurance coverage and accident.

Commenting on the initiative, Varun Khaitan, COO and co-founder of Urban Company, said, “Health insurance provides protection against unexpected medical expenses that can put individuals and families in dire financial straits.

To protect our service partners from such a scenario, we are introducing a specially designed health insurance plan. At Urban Company, our priority has always been the well-being of our partners and we constantly strive to achieve this by continually focusing on the safety net and the creation of wealth for them.

Brijesh Unithan, Senior Vice President of Partnerships, ACKO Insurance, said, “Health insurance has become a critical aspect of financial planning, and kudos to Urban Company for planning this on behalf of their service professionals.

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.

ACKO Group Medical Cover (GMC) allows partners to choose from a wide range of benefits providing flexibility to modify benefits as family needs change and reduces the burden of expensive medical care and medical inflation sharply. Additionally, ACKO GMC eliminates tedious paperwork by making the entire insurance journey accessible on the app.

Urban Company has a structured approach to the development and well-being of partners around 4 key pillars: improvement of income, safety net, training and creation of wealth. This announcement is part of Compagnie Urbaine’s efforts to further strengthen the safety net it offers to its partners.

All partners active on the UC platform in India are covered by the group life and accident insurance cover. Some of the main aspects covered by the policy are life insurance (INR 6 lakhs), disability cover (INR 6 lakhs), accidental hospitalization (INR 70,000), accidental OPD treatment (INR 10,000), among others.

Recently, Urban Company also announced an industry first “Partner Stock Ownership Plan (PSOP)” initiative for its service partners. As part of this initiative, the company plans to award shares worth INR 150 Cr. to thousands of service partners over the next 5-7 years. This will enable Urban Company’s service partners, including plumbers, electricians, cleaners, beauticians, massage therapists, etc., to become full players in the company’s growth.

About Urban Society

Founded in November 2014, Urban Company is Asia’s largest technology-enabled home services market. The company offers services such as home beauty and spa, cleaning, plumbing, carpentry, appliance repair, painting, and more. through its mobile app and website. It operates in over 40 cities in India, United Arab Emirates, Singapore, Australia and the Kingdom of Saudi Arabia.

It has a partner network of over 40,000 hand-picked service professionals who are empowered with training, technology, financial services, tools, product purchasing and a host of other enablers. of the ecosystem, thus transforming them into organized and high-quality micro-entrepreneurs.

This comprehensive approach helps the company deliver on its promise of providing high-quality, enjoyable home-based services.

About ACKO

??ACKO is one of India’s first digital native insurers with all its operations offered through the digital platform. Founded in 2016 by Varun Dua and Ruchi Deepak, ACKO’s entire process is designed to deliver a better customer experience and eliminate pain points associated with the traditional model, with processes that require no paperwork, from purchase and renewal complaints.

ACKO pioneered direct-to-consumer auto insurance in the country. It also holds one of the largest market shares in integrated insurance products such as mobility and gadget insurance in partnership with more than 35 leading players in the Internet ecosystem such as Ola, Oyo, redBus, Zomato, HDB Financial Services and Urban Company.

Less than a year after its launch, ACKO’s group health insurance product has onboarded more than 70 people-focused new age companies, including Virtusa, Swiggy, Razorpay, CRED, Akzo Nobel, Xiaomi and Go-MMT, and ensured nearly 2.8+ lake lives.

In 3 years of activity, the company has distributed insurance policies to more than 70 million unique customers and issued more than 1 billion insurance policies.