Acko General Insurance

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Acko General Insurance
IndustryInsurance
Founded2016
HeadquartersMumbai, Maharashtra, India
Area served
India
Key people
Varun Dua
ParentAcko Technology and Services Private Limited
Websiteacko.com

Acko General Insurance is a private sector general insurance company in India.[1] Founded in November 2016, the company received its license from the Insurance Regulatory and Development Authority of India (IRDAI) in September 2017.[2][3] Acko follows an online-led model and hence all operations for the company are offered through the digital platform.[4][5]

History[edit]

Acko General Insurance was founded by Varun Dua, who serves as the Chief Executive Officer.[6] As of 2018, Acko has raised 274 crore ($42 million) in funding from investors such as Amazon, Accel Partners, SAIF Partners, Catamaran Ventures.[7][8] The retail products offered by Acko General Insurance include motor insurance,[9] in-trip domestic insurance [10][11] and mobile insurance.

Partnerships[edit]

  • Acko General Insurance partnered with Ola cabs and launched an in-trip insurance program in more than 110 cities in India.[12][13]
  • Acko General Insurance partnered with Amazon India to provide mobile insurance plans on the retailer's website.[14]
  • Acko General Insurance partnered with HDB Financial Services and offer HDBFS customers insurance covers at no additional cost with EMI cards.[15]
  • In July 2020, Amazon Pay partnered with Acko to provide its customers auto insurance policy.[16][17]

References[edit]

  1. ^ Thomas, Anu (6 September 2017). "Why investors gave Varun Dua $30 million even before he launched his startup". The Economic Times.
  2. ^ "Non-life Insurers". www.irdai.gov.in.
  3. ^ Sinha, Shilpy (21 September 2017). "Acko gets final Irda license; to start operations by December". The Economic Times.
  4. ^ "Online Insurance firms like Acko, Digit aims to disrupt sector with innovative policies - ETtech". ETtech.com.
  5. ^ "Acko General Insurance named top firm on LinkedIn's Top Startups List 2018". Business Standard India. 19 September 2018.
  6. ^ "Board Of Directors - Acko Insurance". Acko Insurance.
  7. ^ "Deal Street: Amazon Backs Digital Insurance Startup Acko". BloombergQuint.
  8. ^ "Acko General Insurance to develop products for Amazon, in talks with e-commerce giant for investment". Moneycontrol.
  9. ^ "Online insurer Acko General promises 3-day claim guarantee". @businessline.
  10. ^ "Ola, Acko partner to create in-trip insurance program". Business Standard India. 5 April 2018.
  11. ^ "Ola partners Acko to launch in-trip insurance program - ETtech". ETtech.com.
  12. ^ "Ola partners with ICICI Lombard, Acko to offer in-trip insurance to riders". www.livemint.com. 5 April 2018.
  13. ^ Saleem, Shaikh Zoaib (16 April 2018). "Ola cab users can now insure their rides for as low as Re1". www.livemint.com.
  14. ^ "Amazon India announces special offers for the Great Indian Festival".
  15. ^ "Acko partners with HDB Financial Services". The Economic Times. 26 February 2020. Retrieved 28 February 2020.
  16. ^ Bhalla, Tarush (22 July 2020). "Amazon Pay joins hands with Acko to offer auto insurance". Mint.
  17. ^ "Cover story: Why Acko General Insurance refuses to follow the herd". Moneycontrol.

External links[edit]