ACKO TECHNOLOGY & SERVICES PRIVATE LIMITED

In their own words

Acko Technology and Services Private Limited is one of the first insurance technology and services company focused on creating large-scale market access to insurance products. Acko was created in September 2016 with the aspiration to build insurtech solutions and products that could define & accelerate the next wave of insurance penetration in India. Acko is building a core system and a middleware for the insurance sector which will allow insurance companies to provide and manage the insurance coverage through an API, pricing and claims management engine - as opposed to the traditional form of providing coverage. Acko is creating high transaction volume - automated pricing and underwriting technology which can help insurance companies insure cab rides, e-commerce fraud and returns, provide on demand (switch on /switch off) coverage for temporary workforce of delivery personnel and drivers employed by the digital economy. This solution can not only leverage the growing internet economy to create access to insurance and make the digital ecosystem safer - it ensures micro coverages which makes consumers more aware about covering their risks. The solution also lends itself well to small coverages for the underserved sector - as collecting premiums, managing identity and fraud mitigation can be done at scale with negligible costs. The insurance companies will pay Acko for this automated technology on a per API call basis and can be easily integrated with their core /accounting systems requiring no capex or change in systems to enable this opportunity. Apart from creating this technology suite, Acko is enhancing its offerings by offering plug-ins with large digital companies. Acko is building integrations with large e-commerce companies, cab companies, payment companies, digital banking solutions etc, such that insurance companies can, offer products right out of the box and do not need create relationships individually with every such market participant. Acko is also building infrastructure to offer a few ancillary services to insurance companies to improve customer experience / claims servicing. For example, we are building out a network of mobile phone service centres to fulfil claims for mobile insurance. We are also offering a doorstep pick up and drop of mobile phones / completing a car inspection before issuance of car insurance. The field agents can receive a request for car inspection through their mobile app and the inspection results are uploaded through the same app. So an insurer can request an inspection through and API and fulfilment can be done by Acko. By aggregating demand across insurers, we can better optimise service levels and cost in turn bringing efficiencies to the insurers. Acko currently offers comprehensive and composite services to consumers, through online and offline mediums. Currently the services include repairing, servicing of electronic or mechanical gadgets, household appliances, automotive, other mechanical or electronic products.

Written by the company on its public Startup India profile. Not verified by us.