More than just a gig

Urban Company Earnings Index: April — December 2024

Key Takeaways:

• High earnings: The top 5% service partners on the Urban Company platform earned an average of ₹49,719 per month after deducting all costs. The top 10% earned ₹46,815 and the top 20% earned ₹41,292 per month, after deducting costs.

• Consistent work, consistent pay: Partners who completed more than 30 services per month earned an average of ₹33,962 net of all costs.

• Female partners earn more than their male counterparts: Urban Company’s female partners earned 36.65% more per hour than their male counterparts.

Urban Company is committed to supporting the economic growth and financial well-being of all the service partners on its platform. As the company grows, so do the earnings of thousands of micro-entrepreneurs using the platform. This latest Earnings Index, independently audited by J.C. Bhalla & Company, highlights how UC service professionals are achieving financial stability, growth, and social security benefits, including insurance and credit access.

Also read: Earnings Index H1 CY2024 | Earnings Index H2 CY2023 | Earnings Index H1 CY2023 | Earnings Index H2 2022 | Earnings Index H1 2022 | Earnings Index Q2 FY22 | Earnings Index Q3 FY22

Urban Company Partners Earnings Index — April-December 2024

Earnings comparison by gender

Our female partners earned more than the male partners associated with the platform both in net monthly earnings and per hour earnings. This highlights how Urban Company is enabling financial freedom and reinforces our commitment to fostering an inclusive and equitable platform for all our service partners.

Insurance Support

Urban Company voluntarily provides life insurance cover worth INR 6,00,000, disability cover worth INR 6,00,000, accidental hospitalisation worth INR 70,000, and accidental OPD treatment worth INR 10,000, among others, to all its service partners. We are in the process of increasing this cover amount to INR 10 lacs

In addition to the existing Group Life and Accidental Insurance cover, all active Urban Company partners have access to health insurance benefits of INR 1,00,000, with up to 12 free medical consultations per year for self. For select partners based on a standard criteria, the cover is INR 2,00,000 and the policy will also extend to spouse and two children, and include up to 12 free medical consultations per year.

In 2024, Urban Company disbursed ₹6.42 crores in insurance claims, providing crucial financial assistance to over 1,900 service partners with an impressive success rate of 90.37%. Our efficient claims processing includes:

• GPA claims: Processed in an average of 6 days

• GMC cashless claims: Processed in just 52 minutes

• GMC reimbursements: Processed in 1.8 days

These quick turnarounds ensure that service partners receive the support they need without unnecessary delays.

UC Access to Credit facility

In 2024, we enabled disbursement of approximately ₹67.8 crores in loans via third-party NBFCs to our partners, which includes both personal loans and newcomer kit loans:

• Personal Loans: ₹49.29 crores (31,962 loans, average loan size ₹15,000)

• Kit and Service-Related Loans: ₹18.5 crores

These loans are crucial in helping partners invest in their business and meet their financial needs. With flexible repayment options and competitive terms, these loans offer service partners the freedom to grow their businesses at their own pace.

Flexible schedules, financial support, and insurance are key to easing concerns and providing stability — our mission is to ensure every worker feels valued and recognized. After all, we’re all working together to create a better future for work!