The partnership has been designed to be deeply rooted in valuable content that goes beyond mere statements. Madhavan will work closely with the Acko team to create content that educates and reinforces trust. Whether it's motor, health, or life insurance, he's here to simplify the often-bewildering terms and conditions, all while ensuring the customer’s complete peace of mind throughout the process, the company stated.
Under new chairman Debasish Panda, the regulator is engaging with the industry more than ever and looking to get the sector charged up.
Acko is getting ready to launch its first life product by August or September. The company will follow the D2C route for life business, too.
In this Fireside Chat, Vadiraj Aralappanavar, VP - Central Platform Products, Acko discusses the power of marketing automation and how the insurtech has turned customers to evangelists. Watch here:
In an exclusive interaction with ETBFSI, ACKO CEO Sanjeev Srinivasan talks about why the Unicorn insurtech entered the retail health and life insurance segment and how the company plans to replicate the success of its robust motor and embedded insurance business in the two new spaces. He further discussed the company’s IPO plans, industry outlook and more. Read here:
Acko is close to raising a fresh funding round of $150 million led by its existing investors valuing it at $1.5 billion, according to people in the know.
Funding to Indian insurtechs has grown at a CAGR of 34% from FY17-20. In 2021, Indian insurtech companies raised a total of US$ 800 million in equity funding, more than in 2019 (US$380 million) and 2020 (US$290 million) funding sums combined. Here we are narrating the saga of InsurTech -- the latest buzz in insurance sector:
In motor insurance, if two vehicles are identical, an insurer tends to charge uniform prices irrespective of the owner’s behaviour. Acko plans to change all that to get claims-to-premium ratios 10-15 basis points (100bps = 1 percentage point) below the industry average.
The insurtech start-up will increase its overall marketing budget to Rs 250 crore from Rs 150 crore last year. In the current season of the Indian Premier League (IPL), Acko has moved from individual-specific tie-ups to team specific tie-ups. The company is associated with six IPL teams, including the two new teams - Gujarat Titans and Lucknow SuperGiants.
InsurTechs – technology-driven insurance startups - have become a major attraction for investors, and have received an unprecedented amount of funding, with Digit, Acko and PolicyBazaar leading the wave. PGA Labs, exclusively for ETBFSI, has collated a list of top 10 InsurTechs, who raised the most in FY22 till February.
Not even 80% of what LIC sells are protection products, and there’s very little life coverage, Varun Dua, chief executive officer of Acko, said last year. Was he right? We went through the LIC’s DRHP to find out. Take a look.
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