ACKO CAR INSURANCE
InsurTech firm ACKO drives into car repair and service space
ACKO, the Bengaluru-based insurtech firm, is expanding into car servicing and repair with its ACKO Drive Service Centres, targeting cars out of warranty. Initially launched in Bengaluru, plans include centres in Delhi, Mumbai, Pune, Hyderabad, Ahmedabad, and Chennai. Aiming to reach 100 centres in three years, ACKO seeks to capitalize on the growing $25 billion car service market.
Mygate enters insurance distribution business, partners with Acko
Mygate app, in partnership with Acko General Insurance, received an aggregator licence from IRDAI to distribute insurance policies, offering exclusive pricing and expanding product range.
Understanding liability in vehicle insurance: What car and bike owners should know
Choosing the right vehicle insurance in India involves understanding liability coverage, comprehensive plans, and exclusions. ACKO provides tailored coverage, add-ons, and competitive pricing for comprehensive protection and peace of mind.
Latest health and general insurance claim settlement ratio released in 2024
Do you know how good is your insurer is in settling claims and how long it takes for your health or general insurer to settle claims? Or how many claims did they reject last year? It is important to keep track of the claim settlement performance of your insurer. IRDAI has recently released the claim payment details of general and health insurance companies. Check here
Delhi tops cities with highest car thefts: Here are the 3 notorious locations and most common days for theft
Once again, Delhi has secured the top spot for car thefts, with Bhajanpura and Uttam Nagar identified as the most susceptible regions. According to a recent study by Acko, Shahdara, Patparganj, and Badarpur have emerged as additional high-risk areas. Chennai and Bengaluru trail behind in vehicle theft statistics. In 2023, incidents of theft have doubled, resulting in one vehicle being stolen every 14 minutes in the NCR.
PhonePe sells over 9 million insurance policies since Sept 2021
The Walmart-backed company had entered the insurance space in 2020 with a corporate agency licence, before acquiring a full-fledged insurance broking licence. Currently, PhonePe distributes life, health, motor and car insurance with partners such as Acko, among others, and allows users to pay in monthly subscriptions through UPI.
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Sachin Bansal’s Navi in slow lane; New Year spike for health, wellness D2C brands
Sachin Bansal’s fintech venture Navi had big ambitions to digitally disrupt the financial services sector, but two of its flagship products have not been able to shore up much traction. This and more in today’s ETtech Morning Dispatch.
Chennai floods: 4 car insurance add-on covers can help you save thousands due to rain damage. Who should buy?
Unless you have certain specific add-on covers, your insurer will not pay a penny to fix your car engine if damaged due to waterlogging. Add-ons are optional coverage that can be added to a comprehensive car insurance policy to enhance its coverage and provide additional protection. Here are the four add-ons that are a must to protect your car from rain damage.
Chennai flood sweeps away cars: Here's how to insure your vehicle against flood damage
Flood-related damages can encompass engine, gearbox, electric and electronic, and upholstery damage. Repairing or replacing a water-damaged engine alone can cost between Rs 75,000 to Rs 15 lakh.
PhonePe is set to launch consumer lending by January 2024
To begin with, the Walmart backed company will work as a distributor for personal loans, as it slowly builds up credit underwriting heft. The fintech is in the final stages of integration with five lenders.
Up to Rs 5 lakh discounts, other benefits on cars this month: How to get the best deal for your next car
The festive season could be the right time to purchase as several companies offer discounts and attractive deals now. Moreover, you will get reduced interest rates on car loans from various lenders at this time. It may sound exciting on paper but could be a bit daunting in reality. Read on to find out how you can make the most of the festive season deals on cars.
New car insurance plan: File single claim for multiple chips, scratches, minor losses anytime; should you buy?
Add-on covers are usually additional benefits that you can add to your comprehensive car insurance policy by paying an extra amount. To protect different parts of your car, there are specific add-on covers. If you don't understand what part of your car is protected by which add-on cover and jumbled them up while filing an auto insurance claim, your insurance company may refuse to bear the cost. To solve this, Bajaj Allianz General Insurance has come up with a new motor insurance plan that offers a plethora of add-on covers together. Let's understand how it works
How much flood damage will a regular comprehensive car insurance cover?
If your vehicle has been damaged or submerged due to floods, here is what you need to know about what is covered under a regular comprehensive car insurance policy and the claim-settlement process
You can save 20% on car insurance premium if you buy Pay As You Drive; who should opt for it?
The 'Pay As You Drive' insurance product is a comprehensive own damage (OD) plus third party (TP) policy. There are two basic types of ‘Pay As You Drive’ policies — one is based on the kilometers driven and the other is the number of days the insurance policy is on, said experts. Who should opt for 'Pay As You Drive' insurance? ET Wealth Online explains
Long-term Third-Party, Own Damage motor insurance cover proposed: Know proposed features, price, premium
In order to allow the policyholders a wider choice, IRDAI has proposed to permit all general Insurers to offer long-term motor insurance policies — a) 3-year in respect of private cars co-terminus with motor Third Party Liability cover, b)5-year in respect of two-wheelers co-terminus with motor Third Party Liability cover.
Rs 22 lakh repair cost for Rs 11 lakh car?: Bengaluru car owner gets shocking bill from service centre
Car owner Anirudh Ganesh, product manager at Amazon, shared his ordeal in a LinkdIn post. He said his car gotfully submerged in the flood waters. When he sent his vehicle to Volkswagen service centre, he got back a shocking estimate of Rs 22 lakh to repair his vehicle. He called this as “crony” capitalism by Volkswagen.
Indian unicorns set to continue their hiring spree in 2022
Meesho, Acko, Razorpay, Zeta, Spinny, Apna, Vedantu and Cred are among those looking to scale up their teams by up to 100 per cent in the coming months, with a focus on technology, product, design, sales and marketing roles.
Pandemic drives ACKO's auto insurance business to grow 120% over one year
ACKO has posted Rs 81 Cr in Gross Written Premium in the Q1 of FY 22. The new customer growth from non-metro cities grew by 3.5 times in the year while it grew by 2.5 times in the metro cities, signalling a confirmed shift in customer’s digital experiences across industries, including insurance.
Amazon-backed Acko seeks new funds at $1 billion value
The startup is looking to raise about $200 million in the round
Digital insurer ACKO aims Rs 1,500 crore biz next fiscal
The company did a business of about Rs 370 crore in the last fiscal year and this year also, despite the pandemic, there has been a growth.
Bounce in car sales help insurers offset Corona losses
Leading insurers are seeing a healthy jump in their motor vehicle portfolio with premiums accrued from new business growing both corresponding to preceding months and the same period of last year, executives at leading insurance companies said.
Businesses braced for the catastrophic impact of COVID-19. The blow may have been milder
It was believed that smaller companies cannot absorb the economic impact of COVID-19 and many would simply shut shop. Six months later, it seems the fears may have been exaggerated.
Acko partners with Finserv MARKETS to offer car and bike insurance
In partnership with Finserv MARKETS, a Bajaj Finserv subsidiary, Acko seeks to make the insurance buying experience easy.
Acko puts $1.2 million in Pitstop
Acko cofounder Ruchi Deepak told ET that the strategic investment is first in line of other planned tieups, as the four-year-old company attempts to create a full stack online car ownership platform.
AckoDrive offers contactless platform for car buyers
AckoDrive has transformed into a completely online car purchase platform providing guaranteed delivery dates, doorstep delivery, guaranteed lowest prices and easy financing options, according to a release.
Acko General Insurance offers one month free auto insurance amid COVID-19 lockdown
"To support customers during this time where their car/bike will not be in use, Acko General Insurance has decided to not charge insurance for one month and has announced an industry-first initiative that gives a one-month insurance extension to car and bike owners," Acko General said.
Binny Bansal puts $20m more in insurance company Acko
With the fresh infusion of capital, Bansal’s total investment in the new-age insurance firm will go up to $45 million, making it his largest personal bet on an Indian startup.
Acko announces new appointments in strategic roles
Has made four new senior appointments in human resources, marketing, partnerships, and operations-claims.
Digi insurer Acko gets $65m from Binny Bansal, others
Startup bags Bansal’s largest personal investment at $25 m; valuation to be around $300 m.
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