Launched Jobsurance for every employee. India's first Income Protection Plan.
Co-founder of Jobsurance here.
After seeing so many layoffs, we are finally launching Jobsurance.
Happy to answer any questions here.
Hmmmmmm
Stealth
a year ago
Hi Ankit, I'm interested in this space. Are you guys hiring for any roles?
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1) how to know whether your placement service is any good ? Couldn't find any details.
2) what would be the process with ur company once i lose my job ? Paint me a picture
3) you haven't even asked for proof of employment before payment... What are your checks and balances?
4)what are the prerequisites to be eligible? Any defined period of employment? Insurance always comes with tons of ifs and buts... I couldn't find anything till the "pay now" page
Hi Evictus,
Thank you for asking all these questions. If you go through our FAQ page on the website. You will get most of your answers.
1. Placements - We are partnering with leading placements recruiters to help you get back to job market asap. You will be assigned a concierge to help you assist with finding job.
2. Once you lose your job, you will raise a request to avail the benefits to us.
We would verify your termination through company's officials and you will have to furnish your last 3 month salary slips, relieving letter and other similar documents. after our successful verification you shall receive your monthly salary from us for a period of 3 months (subjected to you remaining unemployed for max 3 months). This shall be paid on a monthly basis.
The placement point is already covered in point 1.
3. Proof of employment shall be obtained as explained in above points, at the time of purchase we are seeking declaration from you on the details furnished (only companies available in our database are eligible for this)
4. Full-time permanent employees working in India, 6 months continuous employment at the time of claim, 90 days waiting period after purchase. Most of the scenarios are covered in case you lose your job excluding instances where termination is influenced by employee (ex. fraud, misconduct, harassment, performance issues).
1)A lot of companies (like Amazon) are putting employees under PIP and then terminating them.. forced PIP to cover their behinds.. how are such things viewed from your perspective
2) please make more nuances easily findable and readable before the payment page
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Please go to our website Jobsurance.in and check out the quotes. The plan is as per your monthly salary.
The website is quite straightforward. Wanted to check with you - can I buy this as I am already laid off.
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MaDDogx
Stealth
a year ago
How do you guys make money?
Through subscriptions of our curated plan (which depends on monthly salary of customers)
GrimBeard75
Stealth
a year ago
A lot of friction to get the initial premium quote, I should not have to provide my PAN for KYC just to get a rough estimate.
It would be better if I could give you things like current CTC and yoe and get an estimate based on the industry.
I can understand your point, however your data is completely safe.
Since this is a financial product, PAN card verification is one of the requirement to help you with the relevant quote.
Do you classify yourself as an insurance provider? Asking because insurance payouts are not taxable... Is the money that you provide post job loss taxable?
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One suggestion. There might be people like me who aren't interested in this but would like to see the quote/someone who doesn't want to add their phone number before getting the quote because they might get pestered with calls from other unwanted places. So maybe remove the phone number and let people see the estimated quote according to their salary
Hi LegalTimer, trust me the last thing we want is to spam you. Most of our subscribers are coming via organic mode.
The reason we are doing this because we are deeply connected to this problem and wanted to solve it. I have seen mass layoffs in my past organisation which has impacted people financially.
As someone else has also said. Too much friction in checking the estimate. Probably you should change that. Good luck
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Ankit - it is good to see that as a founder you have come out and answering people’s question. More founders should do it.
RichDadsPoorSon
Stealth
a year ago
All the best. I believe I had joined your waitlist back when the app was still in development.
Looks like a really promising entry into the market especially at this stage. I just have a few questions though.
1) What would the profiles of the jobs via your Placement Support? Would it be like the ones offered by EdTechs? As you will have people from various profiles & domains.
2) What is the business model like ?
3) In terms of funding / backing do you have the necessary amount to support incase of a huge volume.
4) There are certain companies which delay your FNF docs ex: Relieving letter. So what happens in that case ?
5) What happens in cases of forced resignations?
Apologies if any or all questions were answered earlier. Once again wishing you all the best ✨
bruh7
Stealth
a year ago
This is absolutely amazing!!!!!! I wonder why govt doesn't have something similar for security, anyway I can't find my company name in the list. How are you sourcing it? Maybe use the MCA data base?
We have identified more than 10 lacs entities basis their age and conduct criteria. Your company may not be present due to these. We can get it checked though if you can text your company name on the above phone number.
bruh7
Stealth
a year ago
Can you send me your email ID? I'll send the company name.
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Hi Evictus,
Thank you for asking all these questions. If you go through our FAQ page on the website. You will get most of your answers.
1. Placements - We are partnering with leading placements recruiters to help you get back to job market asap. You will be assigned a concierge to help you assist with finding job.
2. Once you lose your job, you will raise a request to avail the benefits to us.
We would verify your termination through company's officials and you will have to furnish your last 3 month salary slips, relieving letter and other similar documents. after our successful verification you shall receive your monthly salary from us for a period of 3 months (subjected to you remaining unemployed for max 3 months). This shall be paid on a monthly basis.
The placement point is already covered in point 1.
3. Proof of employment shall be obtained as explained in above points, at the time of purchase we are seeking declaration from you on the details furnished (only companies available in our database are eligible for this)
4. Full-time permanent employees working in India, 6 months continuous employment at the time of claim, 90 days waiting period after purchase. Most of the scenarios are covered in case you lose your job excluding instances where termination is influenced by employee (ex. fraud, misconduct, harassment, performance issues)
Hi @Ankit04 ,
There is mentioned that you will not avail benefits if you resign but most layoff they give people option for resign only for smooth transition and in this case salary cover will not be provided right ?
Have replied to your earlier comment please check and let me know if any doubt.
Hi, I understand about the scenario is like fraud, theft, sexual harassment but mostly termination happens
1. Forced to resign
2. PIP or Performance issues
- You mentioned about forever to resign will be taken care but still it depend on the verdict by the company officials whom you’re in touch. If suppose the management makes strict order not to tell anyone due to company image/investor relations etc then what would you do ?
- And also even in the performance issues, then it will be problem as none of the company will accept their mistake. They will try to blame on the employees only mostly.
So what’s the process and how sure are you that you will get the right and correct reasons behind each layoff and provide the claim ?
JohnReese
Stealth
a year ago
Since this is kind of an Insurance, I want to know if your company is registered with IRDAI. If so, details are not listed on your website.
Since you're asking for personal info just for a quote including PAN, can you disclose what level of security does your company possess to safeguard customer data including third party certifications of any.
Hi @BA007 if you go through our FAQ page on our website. Jobsurance.in/faq
You will get all your answers.
We have all the necessary approvals to market and distribute this product. Our partner assurekit is a leading insurtech player, you can go through their website and check at the bottom about the data security certificates they have.
Great category, and all the best!
However, like many others have mentioned, the PAN card requirement in sign-up flow just to get a quote, is definitely a huge friction point & most of us want to drop off there.
I hope you modify this, anyone who wants to avail the service eventually will definitely provide the details you need, this is not a vanity product.
Feedback taken, we will work on this and assure you that have a seamless journey while subscribing to our plans.
Morty
Stealth
a year ago
Got stuck at OTP verifcation . It shows an error "Customer profile api unkown error "
Yes, though most of the scenarios are covered however, fraud, sexual harrassment, performance issues, theft termination will not get covered.
Lol what scenarios are covered then? Performance is the most obvious and common reason why anyone would get fired
