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31 May 2020, Edition - 1783, Sunday

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Acko Awarded the Coveted Golden Peacock Award for Innovative Product

Covai Post Network

ACKO General Insurance a new-age digital insurance company, was awarded the coveted Golden Peacock Innovative Product Award – 2019, for their contextual micro insurance product -“Ola Ride Insurance”. The award was presented to Mr. Biresh Giri, Appointed Actuary & CRO, Acko in the presence of global business leaders at the recently held event in Dubai.


Established by the Institute of Directors, India in 1991, The Golden Peacock Awards for Corporate Leadership and Excellence are now regarded as a benchmark of business excellence, both locally and globally. The Golden Peacock Innovative Product/Service Award is designed to encourage systemic innovation in an organization to develop products and services that are aligned with the current market demands.


Acko introduced the revolutionary Ola Ride Insurance – a first of its kind in the Indian market – in March 2018. Acko partnered with the leading ride-sharing company, Ola to launch a comprehensive in-trip insurance program for the Ola users. The Ola Re. 1 ride insurance is a contextual microinsurance solution that protects the user against any unfortunate mishaps while commuting, providing benefits in cases of loss of baggage/laptops, missed flights, accidental medical expense, ambulance transportation cover, and much more.


Acko General Insurance Company is the first digital-native insurer in India that brings risk-based pricing for retail covers such as motor and health insurance. Acko aims at redefining insurance by making it more transparent and providing hassle-free access to policies directly to the end user. The insurtech’s digital platform leverages data and analytics to offer customers affordable and highly personalised insurance products.

Acknowledging the award Mr. Biresh Giri, Appointed Actuary & CRO at Acko General Insurance said, We are honoured and delighted to receive this prestigious award. We at Acko constantly endeavour to innovate and offer affordable and relevant products to the consumers leveraging technology and this recognition is a validation for our efforts. The Ola ride insurance is a unique product that is delivered seamlessly to the users and solves for customers’ key pain points at a low price.


About Acko General Insurance

Acko’s General Insurance Company is a new age online insurance policy provider with its entire operations offered through the digital platform. Founded in 2016 by Varun Dua, a fintech serial entrepreneur, Acko provides innovative products with personalized pricing based on customer behaviour and data analytics.


Acko has now raised a total of US$42mn of funding. The company is backed by Narayan Murthy’s Catamaran Ventures, Accel and SAIF Partners, Amazon, Kris Gopalakrishnan, Co-founder Infosys, Hemendra Kothari of DSP Blackrock, Atul Nishar – Founder & Chairman of Hexaware Technologies, Rajeev Gupta, veteran investment banker and Founder of Arpwood Capital, Venk Krishnan and Subba Rao of NuVentures, Swiss Re & Transamerica Ventures.


Recently, ACKO General Insurance has been featured in Business Today Coolest Startups List and LinkedIn’s top 25 startups in India list. It has also been ranked No. 2 in Insurance POST’s Top 100 Global Insurtech firms 2018, after Zhong An of China and ahead of US-based Oscar, both of which are unicorns.


For more information, login to www.acko.com.

Source: Newsvior

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