Acko

Acko is a direct-to-consumer digital insurance carrier licensed in India, offering car, bike, health, life, and travel insurance through its mobile app and web platform. Founded in November 2016 and licensed by the Insurance Regulatory and Development Authority of India (IRDAI) in 2017, the company operates on a commission-free, fully digital model with no physical agents or paperwork. Acko distributes policies through embedded insurance partnerships, its mobile app, and third-party platforms, and counts Amazon among its distribution partners and investors.

The carrier operates on a proprietary technology platform built around a four-pillar AI architecture: consumer-facing conversational journeys for quoting and onboarding, advisor copilots, automated underwriting and fraud detection models, and internal productivity tools for engineering and documentation. Policy issuance is instant and claims are processed digitally; the company reports 98.8% of claims settled within one week, with its fastest claim settled in seven minutes. In 2024, Acko obtained a separate IRDAI life insurance licence and launched term life products under a pure term-only model.

Acko achieved unicorn status in October 2021 with a valuation of USD 1.1 billion and reported revenue exceeding INR 2,000 crore in FY24. The company has raised approximately USD 600M-666M in total funding from investors including General Atlantic, Amazon, Accel Partners, Munich Re Ventures, and CPPIB. Acko is preparing for an IPO on Indian exchanges, targeting a USD 350M raise at a valuation of USD 2-2.5 billion, with bankers including Morgan Stanley, ICICI Securities, and Kotak Mahindra Capital appointed.