New Delhi, March 07, 2019: AU Small Finance Bank Ltd., a Fortune India 500 company and one of India’s fastest growing banks, today announced its partnership with a new age insurtech company, Acko General Insurance Limited. Partnering with Acko, India’s first digital insurer, AU bank is now set to provide customised insurance products to its customers.
AU Small Finance Bank is continuously working on offering its customers access to financial services and products directly through their digital channels. With the objective of building a robust digital banking platform to offer best in class products in Digital Loans, Deposits, and Investment segments, AU is tying up with various technology partners who share a similar vision and have the relevant technology advancements to back up their offering, Acko being the first.
Based on user behaviour data, Acko’s solution is designed to offer contextual insurance, enabling AU to deliver tailor-made policies that offer the right coverage when the customer needs it.
Acko is a licensed digital-only general insurance company that aims at redefining insurance by making it more transparent and providing hassle-free access to policies directly to the end user. The insurtech’s platform leverages data and analytics to offer customers affordable and highly personalised insurance products based on their risk profile, within a few minutes.
Dayakaran Sridhar, Chief of Digital Banking and Digital Strategy, AU Small Finance Bank said, “AU Bank aims to uncomplicate banking for its customers. With this tie-up we are taking another step in that direction as partners like Acko are enabling us to offer the right product to our customers, at the right time and at competitive pricing. This kind of digital partnership will also be instrumental for our bank to increase its reach.”
He further elaborated, “Being a new age digital player, Acko provides the capability of creating contextual products at a fast pace, covering almost every segment of the bank’s customers. One of the biggest advantages of Acko’s innovative products is the simple, convenient and stress-free claims process across the country.”
“AU Small Finance Bank is a strategic partner that will help us further our objective of delivering the best user experience. Acko’s customer first philosophy is aligned with AU bank’s focus on building the right products and experience for customers. Through this partnership, we will offer affordable and seamless insurance products to AU bank customers,” said Varun Dua, Founder and CEO, Acko.
“Digital Bancassurance is one of the key channels that Acko is building by aligning with bank and NBFC partners and the partnership with AU Small Finance Bank will further help us demonstrate distribution of insurance products using data & technology as the key levers,” said Anik Chhabria, Sr. Vice President – Product Development & Strategic Partnerships, Acko.
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