“Tech Companies Can Be Better at Insurance”
Acko, the Mumbai-based digital insurer, which raised $30M since its inception, is now offering car insurance.
Here’s Acko’s price:
And here are prices by insurance aggregator Coverfox (note the missing Acko):
Killer prices indeed.
Acko is planning on adding more insurance products for health and auto, using available data to better price and customize offerings for insureds. Also, there have been rumors that Acko may receive an investment from Amazon India. In the meantime, here’s a quote from Acko CEO, Varun Dua, who’s inspired by companies like Lemonade, Metromile and Oscar Health – “The digital world has moved towards managing data better than the insurance industry. Very large tech companies can be better at insurance because they manage data well .”