Acko is an entirely digital insurance company in India streamlining customer service and finding better competitive prices. From policy renewal to claims, Acko offers India’s first all-digital platform to offer customers the best rates conveniently and quickly for cars and motorbikes with no paperwork. They follow a similar model to Direct Line in the UK where they operate entirely online.
In Spring 2018, Acko partnered with the ride-sharing app Ola in India, to offer in-taxi insurance in India – this is the first of its kind. As the company grows thanks to its recent investment, the digital platform aspires to create more opportunities for personalised insurance based on user behaviour.
Insurance in India is estimated to be worth over $10 billion, with the general insurance industry expected to reach $17.4 billion USD by 2025. Acko offers a more accessible and efficient way to navigate motor insurance in India.
Acko have raised $32.1 million from a range of top names that include VC firms Accel, SAIF Partners and Catamaran Ventures. $30 million was raised just in its seed round – which is recorded as one of the largest seed rounds by an Indian start-up in recent times. 2018 has also seen increasing rumours that Amazon are looking to co-create products with Acko for the e-commerce giant in the future.