Acko General Insurance Explained

Acko General Insurance
Founded:2016
Area Served:India
Key People:Varun Dua
Industry:Insurance
Parent:Acko Technology and Services Private Limited
Location:Bengaluru, Karnataka, India

Acko General Insurance is a private sector general insurance company in India.[1] [2] Founded in November 2016, the company received its license from the Insurance Regulatory and Development Authority of India (IRDAI) in September 2017.[3] [4] Acko follows an online-led model and hence all operations for the company are offered through the digital platform.[5] [6]

History

Acko General Insurance was founded by Varun Dua, is the Chief Executive Officer.[7] As of 2018, Acko has raised ₹274 crore ($42 million) in funding from investors such as Amazon, Accel Partners, SAIF Partners, Catamaran Ventures.[8] [9] The retail products offered by Acko General Insurance include motor insurance,[10] in-trip domestic insurance [11] [12] and mobile insurance. Acko BLORE

Funding

October 2021, the company secured its position as India's 34th unicorn by raising $255 million through a Series D funding round.[13] [14]

Partnerships

News

Notes and References

  1. Web site: Thomas . Anu . Why investors gave Varun Dua $30 million even before he launched his startup . The Economic Times . 6 September 2017.
  2. News: Bhakta . Pratik . 2023-07-11 . Acko gears up to disrupt the life insurance space . The Economic Times . 2023-08-21 . 0013-0389.
  3. Web site: Non-life Insurers . www.irdai.gov.in.
  4. Web site: Sinha . Shilpy . Acko gets final Irda license; to start operations by December . The Economic Times . 21 September 2017.
  5. News: Online Insurance firms like Acko, Digit aims to disrupt sector with innovative policies - ETtech . The Economic Times . 27 June 2018 . en . Bhakta . Pratik .
  6. Web site: Acko General Insurance named top firm on LinkedIn's Top Startups List 2018 . Business Standard India . 19 September 2018.
  7. Web site: Board Of Directors - Acko Insurance . Acko Insurance.
  8. Web site: Deal Street: Amazon Backs Digital Insurance Startup Acko . BloombergQuint. 4 June 2018 .
  9. Web site: Acko General Insurance to develop products for Amazon, in talks with e-commerce giant for investment . Moneycontrol.
  10. Web site: Online insurer Acko General promises 3-day claim guarantee . @businessline . 21 September 2018 . en.
  11. Web site: Ola, Acko partner to create in-trip insurance program . Business Standard India . 5 April 2018.
  12. News: Ola partners Acko to launch in-trip insurance program - ETtech . The Economic Times . 5 April 2018 . en.
  13. Web site: Parmar . Beena . 2023-01-24 . Acko to raise up to $150 million from Multiples PE, GA, others . 2023-08-21 . mint . en.
  14. Web site: 2021-10-28 . Acko joins unicorn club with $255 million fundraise, valued at $1.1 billion . 2023-08-21 . Moneycontrol . en.
  15. Web site: Ola partners with ICICI Lombard, Acko to offer in-trip insurance to riders . www.livemint.com . 5 April 2018.
  16. Web site: Saleem . Shaikh Zoaib . Ola cab users can now insure their rides for as low as Re1 . www.livemint.com . 16 April 2018.
  17. Web site: Amazon India announces special offers for the Great Indian Festival .
  18. News: Acko partners with HDB Financial Services. 2020-02-26. The Economic Times. 2020-02-28.
  19. News: Bhalla . Tarush . Amazon Pay joins hands with Acko to offer auto insurance . . 22 July 2020 . en.
  20. News: Cover story: Why Acko General Insurance refuses to follow the herd . Moneycontrol.
  21. Web site: 2023-12-07 . ACKO General Insurance partners with PhonePe to offer car, bike policies . 2024-04-25 . CNBCTV18 . en.
  22. Web site: Sil . Debarghya . 2023-10-09 . Acko Earned INR 1,759 Cr By Selling Insurance In FY23 . 2024-04-25 . Inc42 Media . en.
  23. News: Bhakta . Pratik . 2023-07-11 . Acko gears up to disrupt the life insurance space . 2024-04-25 . The Economic Times . 0013-0389.
  24. Web site: www.ETBrandEquity.com . Acko partners with R Madhavan as their 'voice of the customer' - ET BrandEquity . 2024-04-25 . ETBrandEquity.com . en.
  25. Web site: Acko appoints Animesh Das as CEO, elevates Sanjeev Srinivasan to board role . Business Standard.
  26. Web site: Mahadik . Gauresh . 2024-03-19 . Gujarat Titans, ACKO announce partnership extension for IPL 2024 . 2024-04-25 . SportsMint Media . en-US.

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