Nifty99000 100%

Sensex99000 100%

Article rating: No rating
Article rating: 4.8
Article rating: 5.0
Article rating: 3.0
Article rating: No rating
Article rating: 5.0
Article rating: No rating
Article rating: No rating
Article rating: 4.5
Article rating: No rating
Article rating: No rating
Article rating: 4.2
Article rating: 5.0
Article rating: 4.0
Article rating: No rating
Article rating: No rating


Online general insurer Acko General Insurance gets IRDAI nod

Author: IANS/Saturday, September 23, 2017/Categories: Insurance

Online general insurer Acko General Insurance gets IRDAI nod

Chennai - Indian insurance sector regulator IRDAI has given the final nod to online non-life insurer Acko General Insurance Ltd, the company said.

"We are looking to start operations by December 2017, by selling multiple products through online channel," Varun Dua, company founder and CEO-Designate was quoted as saying in a statement.

"Our team has mapped a huge opportunity to tap into online general insurance segment which is estimated to be over $10 billion annually... this has helped us to take a plunge as an insuretech that is completely digital in the general insurance space without the traditional set-up of the brick and mortar format," he added.

Dua said the focus would be to make insurance affordable and relevant to customers with less frills and more value to suit their needs.

The company had filed the application for the licence with the Insurance Regulatory and Development Authority of India (IRDAI) to set up a general insurance company in November 2016.

Acko General Insurance is currently directing its endeavors to strengthen the team, set-up robust tech processes, and forge alliances to formulate and customize products as per the need of the customers, the statement said.

Founded by Dua, the company has recently raised the largest amount of seed round of $30 million.

However the statement is silent on the total equity capital of the company and the shareholding pattern.

Print Rate this article:
No rating

Number of views (480)/Comments (0)

rajyashree guha


Other posts by IANS
Contact author

Leave a comment

Add comment



Ask the Finapolis.

I'm not a robot
Dharmendra Satpathy
Col. Sanjeev Govila (retd)
Hum Fauji Investments
The Finapolis' expert answers your queries on investments, taxation and personal finance. Want advice? Submit your Question above
Want to Invest



The technical studies / analysis discussed here can be at odds with our fundamental views / analysis. The information and views presented in this report are prepared by Karvy Consultants Limited. The information contained herein is based on our analysis and upon sources that we consider reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are not responsible for any loss incurred based upon it. The investments discussed or recommended in this report may not be suitable for all investors. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent advice, as they believe necessary. While acting upon any information or analysis mentioned in this report, investors may please note that neither Karvy nor Karvy Consultants nor any person connected with any associate companies of Karvy accepts any liability arising from the use of this information and views mentioned in this document. The author, directors and other employees of Karvy and its affiliates may hold long or short positions in the above mentioned companies from time to time. Every employee of Karvy and its associate companies is required to disclose his/her individual stock holdings and details of trades, if any, that they undertake. The team rendering corporate analysis and investment recommendations are restricted in purchasing/selling of shares or other securities till such a time this recommendation has either been displayed or has been forwarded to clients of Karvy. All employees are further restricted to place orders only through Karvy Consultants Ltd. This report is intended for a restricted audience and we are not soliciting any action based on it. Neither the information nor any opinion expressed herein constitutes an offer or an invitation to make an offer, to buy or sell any securities, or any options, futures or other derivatives related to such securities.

Subscribe For Free

Get the e-paper free