Avendus Capital Advises Acko on Its Usd 60 mn Fund Raise From Munich Re, Amazon, Intact Ventures and Other Existing Investors

Founded by Varun Dua and Ruchi Deepak in 2016, ACKO is India’s first and only digital-native insurance company. By having a direct relationship with the customer, ACKO aims to fundamentally change how a new generation of consumers interact with and experience insurance. ACKO provides frictionless insurance to the ‘digitally savvy’ through an intuitive purchase experience, zero-paperwork and stress-free claims process. It has issued over 650 million policies to over 60 million unique customers to date. ACKO’s differentiated go-tomarket approach for auto insurance has inherent advantages over traditional channels. ACKO addresses insurance needs through data-based personalised pricing and instant claim verification and settlement. It recently partnered with Amazon Pay for distributing two and four-wheeler insurance. 

ACKO’s employee health plan, a first-of-its-kind in India, combining the benefits of insurance, primary care and wellness, has witnessed strong appeal from employers, scaling to 150K+ insured employees within just six months of launch. ACKO also continues to be a market leader in contextual bite-sized insurance products in partnership with 20+ leading players in the internet ecosystem such as Amazon, Ola, RedBus, Zomato and UrbanClap.