Digital-native insurer ACKO raises $60mn in new funding round

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Bengaluru, Sep 16 | Home-grown digital-native insurer ACKO on Wednesday said it had raised $60 million (approximately Rs 441 crore) in a round of funding led by Munich Re Ventures.

Existing investors Amazon, RPS Ventures and Intact Ventures Inc. Also participated in the round, ACKO said, adding that it plans to use the funds to accelerate its growth in existing lines and expansion into new product lines.

Founded by Varun Dua and Ruchi Deepak in 2016, ACKO aims to fundamentally change how a new generation of consumers interact with and experience insurance.

“Munich Re has been a strategic partner to ACKO since inception and we are really excited to bring them on board as our investor. As one of the largest reinsurance companies globally, their investment shows confidence in our data and technology-driven business model,” Dua, Founder and CEO, ACKO. Said in a statement.

“This confidence is further reinforced by the continued support of our existing investors, Amazon, Intact and RPS Ventures,” he said.

ACKO said it provides insurance to the “digitally savvy” through an intuitive purchase experience, zero-paperwork and stress-free claims process.

The startup has so far issued over 650 million policies to over 60 million unique customers to date.

ACKO addresses insurance needs through data-based personalised pricing and instant claim verification and settlement.

It recently partnered with Amazon Pay for distributing two and four-wheeler insurance.

Source: IANS

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Policybazaar Unveils its new brand campaign "AapKiSideHai"

Policybazaar Unveils its new brand campaign

Akshay Kumar delivers the brand’s promise of always being on the customer’s side

Gurugram, 19th Sept, 2020: Policybazaar.com (Twitter handle: PolicyBazaar), India’s largest online insurance marketplace with over 10 million customers, showcases its commitment to customers in its new television campaign “AapKiSideHai”. The new ad campaign featuring Policybazaar brand ambassador, Akshay Kumar, highlights the brand’s promise of embracing a holistic customer centric approach while helping to bridge the insurance protection gap in India.

Policybazaar’sAapKiSideHai campaign seeks to reassure its customers on being a dependable Insurance partner for them, every step of the way. The brand has always focused on distributing products like term insurance, health insurance, zero commission ULIP’s and motor insurance that are optimal from a customer perspective. Policybazaar is now extending the brand promise beyond the purchase experience to ensure that consumers get the highest levels of service throughout the policy lifecycle.

The new brand campaign reinforces Policybazaar core value of putting the customer first by delivering on its promise of providing a trusted platform for all types of insurance products. The brand is committed to guiding the customer throughout the insurance journey, starting from recommending the right products at affordable pricing, ensuring thatthe policy issuance process is smooth and fast, and, to providing services and claims assistance when needed.

“While we continue to highlight the importance of Health & Term life Insurance through our marketing campaigns, with the brand promise of Policybazaar AapKiSideHai, we also intend to position Policybazaar as a customer centric brand, that is committed to stand by its customers, both pre and post purchase”, said Samir Sethi, Head of Brand Marketing, Policybazaar.com. The new ad series highlights Policybazaar’s unparalleled support to customers, while providing them with the ease of comparing and buying term and health plans online with guidance at each & every step.

Speaking about the TVC launch, Sharat Dhall, Chief Operating Officer, Policybazaar.com said, “Our ultimate aim is to provide 360-degree assistance to customers that starts from when the policy is bought, to provide assistance when the claim is paid out, should such a situation arise. Winning and maintaining customer trust is a strong ethos within the company and this campaign reflects that. At a time when the world is grappling with a crisis like no other, the brand intends to instill confidence in the customers’ buying decisions by assuring them protection of their futures with the right insurance products & thorough assistance throughout the journey.”

The new brand campaign in its series displays moments of indecision that people may have while investing in protection products. It addresses these queries &emphasizes the importance of nurturing a bond with the consumers thereby creating customer delight.

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