Acko Unicorn Investor

ACKO focuses on making insurance effortless through technology-driven, paperless digital insurance solutions, positioning itself as India's first digital insurer.

ACKO offers "Customised prices, instant policy, super-quick claim settlements" delivered through an online-led model with reduced paperwork.

ACKO issues insurance via API integrations inside partner apps (e.g. Ola, Swiggy, Zomato, Goibibo) so cover is added at the moment of a primary purchase rather than through a separate agent-led process.

Retail buyers of comprehensive, third-party, own-damage and zero-depreciation car insurance, and comprehensive/third-party/EV bike insurance.

Family floater, senior citizen, group, critical illness and super top-up health insurance buyers.

Travel insurance customers covering domestic and international trips, including Schengen, USA, Dubai and Thailand travel.

Enterprise solutions covering gig-worker health, group health, loan protection, group travel and electronic-device insurance sold to corporates.

Electric two-wheeler owners covered through an extended battery warranty insurance plan launched with Ola and Ather.

ACKO offers direct phone and email support for policy and claims queries, available Monday to Sunday, backed by a formal grievance redressal mechanism and an escalation path to the Insurance Ombudsman for unresolved complaints.

Existing customers manage renewals and policy details through an online login portal, and can find answers or submit support tickets via a self-service help centre and tools such as a premium calculator.

For motor claims ACKO arranges free vehicle pickup and returns the repaired car to the customer's doorstep after cashless repair at a network garage, providing a high-touch, hands-off claims experience rather than pure self-service.

In cashless motor claims ACKO settles the repair bill directly with the network garage instead of requiring the customer to pay upfront and claim reimbursement later, with the customer liable only for policy deductibles.

Direct-to-consumer online purchasing through www.acko.com and ACKO's mobile app, with an online-led model where all operations are offered through the digital platform.

Insurance distributed through partner apps and checkout flows such as Amazon, Ola, Swiggy, Zomato, Goibibo, RedBus, OYO, HDFC, Cred, MoneyTap, EaseMyTrip, Lendingkart, ZestMoney and HDB Financial Services.

ACKO automates the majority of its underwriting through machine- and deep-learning models that combine internal data with external data accessed via APIs, assessing risk and personalizing premiums rather than relying on manual underwriting.

ACKO runs an end-to-end digital claims operation covering cashless claims (pickup, repair at a network garage, direct bill settlement, doorstep delivery) and reimbursement claims, including instant settlement for minor damage such as a broken mirror or bumper dent.

ACKO runs a Google Cloud-powered Customer Data Platform to reach customers with timely, targeted communications, automating renewal reminders and lapse prevention and marketing new offers and services.

ACKO operates a custom security framework adapted from industry-leading standards to meet IRDAI cybersecurity guidelines, layering endpoint security, email security, mobile device management, two-factor authentication, cloud security controls and behavioural-analysis systems, with security built in at the system-design level.

ACKO's ability to underwrite insurance in India rests on its licence from the Insurance Regulatory and Development Authority of India (IRDAI), granted in September 2017, about a year after the company was founded.

ACKO has relied on large rounds of venture capital to build the reserves and scale needed to underwrite insurance, becoming India's 34th unicorn in October 2021 after raising a $255 million Series D round.

ACKO's underwriting, pricing and customer-data operations run on a Google Cloud stack -- BigQuery as the data warehouse, Dataflow/Cloud Composer for pipelines, GKE for applications, and Vertex AI for ML-driven personalized pricing -- adopted as the company outgrew a traditional database.

ACKO maintains a nationwide network of hand-picked, specialized partner garages used to deliver cashless motor-claim repairs, settling bills directly with the garage rather than through the vehicle owner.

Investor and embedded-distribution partner; Amazon led a $12 million funding round in 2018 and Amazon-related device/e-commerce insurance was an early focus of the tie-up.

Ride-hailing/delivery platforms listed as travel-insurance and gig-worker (GIG) insurance partners on ACKO's official partnerships page.

ACKO partnered with Ola and Ather to launch an extended battery warranty insurance plan for electric two-wheelers, covering battery life through the fourth or fifth year and performance up to 60,000 km.

Listed as travel-insurance distribution partners on ACKO's official partnerships page.

Listed as credit-shield insurance and financial-services partners on ACKO's official partnerships page.

Car and bike/scooter insurance (comprehensive, third-party, own-damage, zero-depreciation, EV) is one of ACKO's core product lines and its original 2018-launch business.

Family, senior-citizen, group, critical-illness and super-top-up health insurance; ACKO expanded into corporate health insurance in 2020.

Term life insurance and domestic/international travel insurance products.

Group health, gig-worker coverage and electronic-device insurance sold to corporates and platform partners.

Claims paid to customers were ACKO's largest cost centre, accounting for 31.6% of overall expenditure in FY23 and surging 67.2% to ₹801 crore that year.

Employee benefit expenses, premium on reinsurance ceded, outstanding claims, advertising/promotional expenses and information-technology expenses together pushed overall cost up 38.1% to ₹2,525 crore in FY23 from ₹1,835 crore in FY22.