Acko General Insurance overview

Acko General is an Indian start-up aiming is to simplify the insurance process as much as possible.

Acko’s offering is a fully digital insurance marketplace whereby users can browse auto, property and health insurance and then directly purchase cover, all from the same place. In 2018, Acko launched its first auto & bike insurance product – a comprehensive insurance policy protecting against loss or damage and including a selection of customisable add-ons.

Through Amazon's checkout page, Acko also offers smartphone insurance directly to Amazon clients. It also works with cab firm Ola and several travel aggregator services.

In 2019 Acko partnered with OYO Hotels and Homes to offer complimentary insurance to guests of OYO properties, with coverage for accidental death, accidental medical expenses and medical costs.

Acko has had notable backing from Amazon, billionaire Binny Bansal, SoftBank's managing partner Kabir Mishra and Infosys's founders. In 2019 alone Acko raised over $100m through several rounds of funding.

Rumours began circulating in Q1 2020 that Acko could potentially see a $4.5m investment from Baring Private Equity Partners India.

In April 2020 Acko laid off 10% of its workforce, and its leadership team has taken pay-cuts of 50-70% due to the difficult conditions created by global pandemic Covid-19. CEO Varun Dua stated “Some business lines have been impacted and we don’t see them recovering for a long time."

In June 2020 there were reports that Munich Re was in the final stages of leading a $60-70m financing round into Acko, putting the company's valuation in the region of $400-500m.

The following month Acko partnered with Amazon once again, through Amazon Pay, this time offering auto insurance for two- and four-wheel vehicles.

In September Acko raised $60m Series D funding, with Munich Re Ventures leading the round, and Amazon, RPS Ventures and Intact Ventures also participating. The startup is now valued at around $500m - up from $300m last year.

Acko CEO Varun Dua, previously co-founded Coverfox.

Map showing the location of Acko General Insurance

Mumbai, India

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Key people

Sunil Mehta INDEPENDENT DIRECTOR
Ruchi Deepak Non-Executive Director
Ruchi Deepak Board Director
Deepak Angrula VP Engineering
Varun Dua Founder
Amit Upadhyay CTO
Kulin Shah Vice President
Arjun Biyani Engineering