Acko General Insurance, an insurance start-up, said it raised $30 million from a group of investors, including N.R. Narayana Murthy’s Catamaran Ventures, Infosys’ co-founder Kris Gopalakrishnan and Hexaware Technologies founder Atul Nishar. Other investors include Hemendra Kothari of DSP BlackRock and venture capital firms Accel and SAIF Partners. Acko also said it had received in-principle regulatory clearance to introduce general insurance business in India. The firm said it will operate as an independent general insurance company.
“With Acko we want to make insurance so straightforward that consumers don’t need to talk to multiple people to get advice or fill up forms,” said Acko founder Varun Dua, in a statement. Mr.Dua, who is also the co-founder of online insurance brokerage company Coverfox, said that consumers should be able to access low prices in one click, based on their risk profile. Acko said that it would create products and deliver opportunities in areas where there were gaps. For example, personalised insurance products based on user consumption behaviour.“Fintech is disrupting the financial services industry in India and we want to be a part of this disruption,” said Atul Nishar, chairman of Hexaware Technologies, in a statement.
