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Mon, Sep 24, 2018 | Last Updated 9:40 am IST

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Amazon India expands business in India with Acko

Amazon India expands business in India with Acko
Amazon India expands business in India with Acko
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Amazon India is out to expand its presence in India in multiple verticals and its latest decision to invest $12 million in insurance vertical Acko, which holds a license to issue policies in the non-life categories. Meanwhile this is not the first such investment by Amazon in the Indian fin-tech startups; though it is the first insurance company it has picked up to invest in.



Moreover it invested Rs 144 crore in Capital Float, an online lending portal and picked up a minority stake in BankBazaar. Acko Technologies is the parent company that operates the Acko General Insurance business online and uses the latest technology to process applications for insurance policies online and issues them to individuals and businesses. Further as indicated already the company operates in the non-life insurance space.

Amazon India expands business in India with Acko

Amit Agarwal, SVP and Country Manager, Amazon India, in a statement said “Acko is a young and nimble start-up bringing technology and data-led innovation to the insurance sector to deliver a better insurance experience for customers and they are excited to back companies that are focused on using technology for enhanced customer experience and are led by missionary founders and management teams and looks forward to be a part of their growth journey”. Furthermore the founder of Acko, Varun Dua, already runs another insurance site, CoverFox, which does aggregation of polices and many of the making investments in Acko have made investments in CoverFox as well.

Amazon India expands business in India with Acko

Amazon India expands business in India with Acko
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