Urban Company rolls out health insurance for service professionals

Urban Company, Asia’s largest tech-enabled home services marketplace, said it is introducing a comprehensive health insurance plan for its service partners in India.

Under the newly launched health insurance policy, all UC Plus service partners will get an insurance cover of Rs 2 lakh.

The policy will also provide family medical insurance for spouse and two children and up to 12 free medical consultations per year. This is in addition to the existing group life and accidental insurance cover.

“Health insurance provides a shield against unexpected medical expenses that can throw individuals and families in dire financial situation,” said Varun Khaitan, COO & co-founder Urban Company. “To protect our service partners from such a scenario, we are introducing a specially designed health insurance plan.”

Service partners without UC Plus subscription will benefit from a health insurance cover of Rs 1 lakh, with up to 12 free medical consultations per year for self, along with the existing benefits of the group life and accidental insurance cover.

Recently, Urban Company also announced an industry-first ‘Partner Stock Ownership Plan (PSOP)’ initiative for its service partners. Under this initiative, the Company plans to award stocks worth Rs 150 crore to thousands of service partners over the next seven years. This will enable Urban Company service partners, including plumbers, electricians, cleaners, beauticians, and massage therapists to become equal stakeholders in the company’s growth.