Acko is an online insurer whose largest revenue driver is automobile insurance; it also sells insurance for smartphones, laptops and other home electronics via Amazon India. The company has expanded into corporate health insurance and plans to launch a direct-to-consumer health product early next year. Acko will use new funding to double down on health, develop new insurance products, scale distribution, and build partnerships across the broader health economy including with hospitals. Management has said the company could offer life insurance in the future, although there are no immediate plans. The startup achieved unicorn status with a $1.1 billion valuation after the latest fundraise and has signaled a potential public listing in 2023 or 2024. Acko was founded in 2015 and counts Amazon among its investors. Acko General Insurance Ltd is an Indian insurtech startup. It announced a $60 million fresh round of funding. The round was led by Munich Re Ventures, the investment arm of Munich Reinsurance. The article does not disclose other participating investors or the financing instrument. The coverage includes no operating metrics, use of proceeds, valuation, or founding-year details. Further strategic plans or operational details were not included in the report. Acko is a digital insurer founded in 2016 by Varun Dua that offers direct-to-consumer and partner-distributed insurance products. Its product lineup includes rider insurance, mobile and appliance protection, and ticket cancellation. The company pursues a distribution strategy combining direct sales with partnerships. Acko maintains distribution arrangements with platforms including Amazon, Ola and OYO. Financially, the company has raised capital across multiple rounds and continues to fund growth through external investors. The articles do not disclose revenue or user metrics. Acko builds digital insurance products focused on drivers and transportation-related scenarios, including direct-to-consumer auto policies and microinsurance embedded with third-party services. The company reports passing 20 million customers and has insured about 200,000 cars through its direct auto product. Acko partners with ecosystem players to offer protections such as ticket cancellation, rider protection and driver protection for roughly 15 companies, including Ola, redBus, Zomato, UrbanClap and Amazon. Founder and CEO Varun Dua previously spent a decade in the insurance industry and built the aggregator Coverfox. Acko is developing an array of services beyond basic insurance sales and is working with incumbent insurers seeking better consumer distribution. The company has attracted strategic and financial backers as it scales its data-led, technology-first insurance offerings. Acko builds digital-first insurance products targeting traditional lines like automobile insurance and newer "internet economy" covers for e-commerce, ride-hailing and travel. The company has integrated claims systems with partners (notably Ola) and has covered more than 10 million Ola trips so far. Acko operates from offices in Bombay (regulator dialogue, compliance, finance, auditing) and Bangalore (product, marketing, tech) and has grown to around 100 employees with a tech team of about 40. It secured an insurance license in September and has pursued large partnerships and product integrations rather than offline distribution. Management says regulators typically take about two months to sign off on new products and that the company works closely with them. Acko plans to raise a significant funding round next year to build a war chest and execute a multi-year strategy, and is in talks with undisclosed global insurance firms for possible participation.

Total raised

$458M

Funding rounds

6

Latest round

Series D

Latest activity

Oct 2021