Acko is a B2C insurance company founded in 2016 by Varun Dua. Acko is a digital-first general insurance company in India, offering a range of insurance products with a focus on making insurance simpler, more accessible, and hassle-free. Founded in 2016, Acko leverages data and technology to provide personalized, low-cost insurance solutions. The company reached a valuation of $1.1 billion in 2021.
Problem
Acko addresses the issue of complicated, slow, and often expensive insurance processes in India. Traditional insurance models involve lengthy paperwork, slow claims processing, and lack of transparency, making it difficult for users to access affordable and quick insurance solutions.
Acko Solution
Acko provides a fully digital, user-friendly insurance platform that simplifies the entire process of purchasing and managing insurance. By offering customized policies, transparent pricing, and fast claim settlements, Acko makes insurance more accessible and affordable. Its direct-to-consumer approach, with minimal paperwork and a streamlined digital interface, ensures a seamless experience for users.
Initial Users & Marketing Hack
Acko attracted users through partnerships with e-commerce platforms and ride-sharing apps like Ola, offering microinsurance products at checkout.
Acko Offerings
Car and Bike Insurance: Comprehensive and third-party insurance policies for vehicles with features like zero paperwork and instant claims processing.
Health Insurance: Tailored health plans with cashless hospitalisation, OPD coverage, and digital claim settlement.
Travel Insurance: Coverage for trip cancellations, medical emergencies, and lost luggage.
Gadget Insurance: Protection for smartphones and electronic devices against damage or theft.
FASTag Recharge: Acko provides a seamless digital platform to recharge FASTag accounts, enabling quick and hassle-free toll payments for vehicles.
Emissions Centers: Acko partners with emission centers to offer easy access for vehicle owners to check and comply with pollution control standards, ensuring their vehicles meet regulatory requirements.
Immediate Ambulance: Acko offers a service for immediate ambulance assistance in case of medical emergencies, ensuring swift response and transportation to nearby hospitals for insured customers.
Website
Linkedin page
Founder’s profiles
Varun Dua, https://www.linkedin.com/in/varundua/