Companies

Zolostays offers free healthcare plan with Covid-19 insurance for residents

Sangeetha Chengappa Bengaluru | Updated on August 10, 2020 Published on August 10, 2020

Co-living and student housing platform Zolostays has announced a complimentary healthcare membership, “ZoloSure”, for all its 50,000-plus residents in over 495 properties across 10 cities in India.

This initiative is in line with all the earlier initiatives that have been introduced by Zolostays during the national lockdown, including 75 days of rent-free stay for residents who lost jobs, interview training and community support.

ZoloSure includes medical insurance which also covers Covid-19, as well as other healthcare benefits such as discounted medicine orders, doctor tele-consultations and health check-ups for residents. Medical insurance under ZoloSure will cover hospitalisation with an insured sum of ₹1 lakh. For a nominal fee, a resident will have the option to upgrade their ZoloSure plan to variants with higher healthcare benefits and medical insurance of to ₹5 lakh, which will get added to their monthly rent.

“As a student, I am dependent on my family for all of my expenses. It is never easy for anyone to compromise on their health to pursue their dream but Zolostays has gone way out and given me the benefit of health insurance. This proves that they consider every customer as their family member and support for their well-being,” said Arjun Marak, resident of Zolo Magna and student of Reva University, Bengaluru.

Vishal Anand, who resides in Zolo Destiny and works for car care services firm Pitstop, said: “The fact that the company kept the health and well-being of its thousands of residents above the company’s profitability, is something to be cherished when the economy is in doldrums and revenues are going down.”

Zolo is one of the largest providers of urban living services pan India which develops and operates innovative, digitalised living concepts for target groups with differentiated needs. The start-up recently raised $56 million in its Series C round from Investcorp, Nexus Ventures Partners, Mirae Assets, Trifecta Capital, among others, bringing the total raised amount to $90 million.

“Most of the Zolo residents are young professionals and students who have moved into a new city. In these uncertain times, it is a challenge for people to make long term commitments, provide big deposits and buy furniture let alone get comprehensive healthcare benefits such as doctor tele-consultations and medical insurance which takes care of them for Covid-19,” Nikhil Sikri, co-founder and CEO, Zolostays told BusinessLine.

“As the pandemic rages on, we noticed that a lot of them did not have any healthcare plans. Those who had, only had insurance which is provided under their employer’s policy. With the job market being unpredictable and cash flows becoming difficult, we did not want them to be in a situation where they lose their jobs as well as incur additional expenses for their medical insurance,” Suri added.

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Published on August 10, 2020
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