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ACKO Insurance

ACKO Insurance is one of India’s leading digital geneal insurance providers with its entire operations offered through the digital platform. Founded in 2016 by Varun Dua and Ruchi Deepak.

Financial Services, FinTech, Insurance

Basic Information

ACKO General Insurance is one of India’s leading digital insurance providers with its entire operations offered through the digital platform. Founded in 2016 by Varun Dua and Ruchi Deepak, ACKO aims to deliver conventional insurance unconventionally.

Legal Name

:

ACKO General Insurance Ltd.

Headquarters

:

Bangalore, Karnataka, India

Business Model

:

B2C

Founding Date

:

Nov 2016

No. of Employees

:

501 to 1000

Core Team

:

1.

Ruchi Deepak

Co-Founder

2.

Vishwanath Ramarao

Chief Product and Technology Officer

3.

Varun Dua

Founder & CEO

Timeline

2019

Awards

Jun | Awards

Golden Peacock Innovative Product Award - For ACKO's contextual micro insurance product - “Ola Ride Insurance”

2020

Awards

Oct | Awards

Most Innovative Insurer”Category in Non- Life Segment, in the FICCI Insurance Industry Awards 2020

2021

Awards

Feb | Awards

BW Festival of Fintech 2021 - Best Insurtech Company - ACKO

Target Market

B2C

ACKO executes primarily through a digital platform with no offline hassles - no paperwork from purchase, claims to renewals. The company uses a direct-to-consumer approach for distributing traditional products, allowing for favourable risk selection and underwriting. ACKO also offers innovative and bite-sized insurance products such as rider insurance, mobile and appliance protection, ticket cancellation etc in partnership with 15+ leading players in the internet ecosystem such as Ola, Oyo, redBus, Zomato, HDB Financial Services and UrbanClap. In a span of 24 months of operations, ACKO has distributed insurance policies to over 62 million unique customers.

User Age

:

18 to 25, 26 to 34, 35 to 45

User Income

:

Lower-middle Income, Upper-middle Income

Location

:

Funding

Total Funding

$458.0M

Investors

:

1.

Atul Nishar

2.

Kris Gopalakrishnan

3.

Narayana Murthy

4.

Binny Bansal

See More

Detail Round Breakdown

Round 1

Round 2

Round 3

Round 4

Round 5

Round 6

$30M

Series Name

:

PRE-SERIES-A

Date

:

May 2017

Investors

:

1.

Accel

2.

SAIF Partners

3.

Rajeev Gupta

4.

Atul Nishar

See More

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