Amazon invests 12 million $ in Indian Assur Tech Acko
Amazon did a new financing round table and wants to continue investing in India for AssurTech, namely Acko. No less than 12 million $ shall be invested in online insurance. Last April, the American company had already invested in an Indian Capital Float, loan platform.
Acko was founded in 2016 by Varen Dua, co-founder of Coverfox comparative Insurance. Varun Dua wants to take a major leap forward and take advantage of the exponential growth of Internet access in India, to generalize insurance products exclusively, via digital.
Acko is already off to a great start, it received an investment of more than 30 million $ last year, even before obtaining an insurance license. At the moment, Acko takes care of the traditional products of car insurance and since January it has launched a new online category called “internet economy”. It is in this category that Amazon is of major help.
The Indian company is aiming for this new large-scale project, commercial sites, luxury car hires but also travel sites. Last April, Acko launched an insurance product for the VTC Ola company (Uber’s competitor), offering coverage in case of minor accidents, missing flights or traffic jams.
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