By FMTeam Just a 2016-founded insurance company that has now become a unicorn, and in case you don’t know it yet, we’re referring to Acko Insurance. The growth that this company has shown is just outright impressive, so let’s talk about what’s the current standing of Acok General Insurance, like what the net worth is, the owners, the CEO, the head office, and all that.
| Company/brand name | Acko General Insurance (brand: ACKO) |
| Establishment year | 2016 |
| Country of origin (headquarters) | India; Bengaluru, Karnataka |
| Owner/Founder | Founder: Varun Dua; Co-founder: Vishwanath Ramarao; Founder Emeritus: Ruchi Deepak |
| CEO name | Animesh Das (appointed 2024) |
| Industry | General insurance (insurtech) |
| Net worth (valuation) | Around USD 1.1 billion (Oct 2021 Series D) |
| Total revenue (2024) | ₹2,160.20 crore (FY24, total revenue) |
Company Profile
Acko General Insurance operates on a direct-to-consumer or D2C model. In other words, the process doesn’t involve agents or intermediaries. To put it simply, the company creates, prices, and sells its products directly to customers through its website and mobile app. As a result of using this method, Acko is in a position to provide its customers with products that have fewer complications, claim settlements that are quicker, and prices that are more competitive. Varun Dua is the founder of the company that was granted its general insurance license in 2017. From that point onwards, Acko has widened its scope from motor insurance only to a combination of health, travel, and group life insurance under the brand name ACKO Life Insurance. By the way, the current head office of Acko Insurance is down there in Bengaluru, Karnataka.
Current Status
In FY24, Acko had an operating revenue of ₹2,106 crore, going beyond the ₹2,000 crore mark for the very first time, which was a decent jump. Acko was also able to decrease the consolidated net loss of the group to approximately ₹670 crore, which is a manifestation of the company gradually turning its unit economics positive and becoming operationally more efficient down the line. Though yes, Acko is still a unicorn in terms of valuation.
Future Outlook
Acko is planning to fortify its direct model even more so that customers would be able to keep enjoying transparent policies, quick claims, and fair premiums. With now GST 2.0 in place, insurance has become much cheaper and that’ll certainly result in more and more customers coming Acko’s way, that’s for sure.