Acko Insurance
 | |
| Industry | Insurance |
|---|---|
| Founded | 2016 |
| Headquarters | Bengaluru, Karnataka, India |
Area served | India |
Key people | Varun Dua |
| Parent | Acko Technology and Services Private Limited |
| Website | acko.com |
Acko 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
[edit]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
In October 2021, the company secured its position as India's 34th unicorn by raising $255 million through a Series D funding round.[13][14]
Acko Drive
[edit]Acko Drive was introduced in 2019 as part of the company’s expansion into automotive services, initially collaborating with car dealerships in Bengaluru.[15][16] By 2024, the platform was operational in 12 Indian cities, including Delhi NCR, Mumbai, and Chennai.[17][18]
In 2022, Acko Drive began facilitating online car purchases and financing options through partnerships with banks and non-banking financial institutions.[19] Maintenance and repair services were later added, with two service centers operating in Bengaluru as of 2024.[20][21] The company has also collaborated with used-car platforms Zoomcar, Spinny and Cars24.[22][15]
References
[edit]- ^ Thomas, Anu (6 September 2017). "Why investors gave Varun Dua $30 million even before he launched his startup". The Economic Times. Archived from the original on 30 October 2018. Retrieved 29 October 2018.
- ^ Bhakta, Pratik (11 July 2023). "Acko gears up to disrupt the life insurance space". The Economic Times. ISSN 0013-0389. Retrieved 21 August 2023.
- ^ "Non-life Insurers". www.irdai.gov.in.
- ^ Sinha, Shilpy (21 September 2017). "Acko gets final Irda license; to start operations by December". The Economic Times.
- ^ Bhakta, Pratik (27 June 2018). "Online Insurance firms like Acko, Digit aims to disrupt sector with innovative policies - ETtech". The Economic Times.
- ^ "Acko General Insurance named top firm on LinkedIn's Top Startups List 2018". Business Standard India. 19 September 2018.
- ^ "Board Of Directors - Acko Insurance". Acko Insurance. Archived from the original on 30 October 2018. Retrieved 29 October 2018.
- ^ "Deal Street: Amazon Backs Digital Insurance Startup Acko". BloombergQuint. 4 June 2018. Archived from the original on 30 October 2018. Retrieved 29 October 2018.
- ^ "Acko General Insurance to develop products for Amazon, in talks with e-commerce giant for investment". Moneycontrol.
- ^ "Online insurer Acko General promises 3-day claim guarantee". @businessline. 21 September 2018.
- ^ "Ola, Acko partner to create in-trip insurance program". Business Standard India. 5 April 2018. Archived from the original on 30 October 2018. Retrieved 29 October 2018.
- ^ "Ola partners Acko to launch in-trip insurance program - ETtech". The Economic Times. 5 April 2018. Archived from the original on 30 October 2018. Retrieved 29 October 2018.
- ^ Parmar, Beena (24 January 2023). "Acko to raise up to $150 million from Multiples PE, GA, others". mint. Archived from the original on 21 August 2023. Retrieved 21 August 2023.
- ^ "Acko joins unicorn club with $255 million fundraise, valued at $1.1 billion". Moneycontrol. 28 October 2021. Archived from the original on 21 August 2023. Retrieved 21 August 2023.
- ^ a b Sharma, Sonali (10 March 2025). "ACKO drive revolutionizes car buying in India". Daily News and Analysis. Archived from the original on 13 April 2025.
- ^ "How ACKO Drive Is Enhancing Ways To Buy Cars Online". English Jagran. 10 January 2025. Archived from the original on 13 April 2025.
- ^ "Taking E-Selling of Cars to the Next Level". zeenews.india.com. 25 February 2025.
- ^ Sil, Debarghya (9 October 2023). "Acko Earned INR 1,759 Cr By Selling Insurance In FY23". Inc42 Media.
- ^ "AckoDrive launches online car purchase portal". The Times of India. 5 June 2020. ISSN 0971-8257.
- ^ Mohile, Shally (26 June 2024). "InsurTech firm ACKO drives into car repair and service space". The Economic Times. ISSN 0013-0389. Archived from the original on 7 August 2024. Retrieved 12 April 2025.
- ^ Today, Telangana (15 March 2022). "ACKO Drive launches in Hyderabad, offers one-stop solution for car buyers". Telangana Today.
- ^ "Zoomcar Partners with ACKO Drive to increase car fleet - ET Auto". ETAuto.com.