Acko General joins 'billionaire' club

Chennai: Joining the billion-dollar valuation club raising $255 million, digital insurer Acko General Insurance Company Ltd will now focus on the health insurance segment, said a top company official.

After selling vehicle insurance products directly, Acko General plans to focus on the health insurance segment.The company will invest over $150 million to deepen the health insurance strategy, he said. "We believe health insurance products, claims innovation and a deeply connected ecosystem of health services that improve health outcomes for customers are today's most urgent needs," said Varun Dua, Acko General's Founder and CEO.

Last year, the insurer entered the group health insurance segment.Its flagship retail health insurance product is due to launch by early next year.The digital insurer raised $255 million from private equity players like General Atlantic, Multiples Private Equity and also from Canada Pension Plan Investment Board, Lightspeed, a global technology focused investment firm etc.