Acko, the new-age insurance company, has appointed Apoorv Kalra, the former chief product officer of Junglee Games, to lead its auto insurance division. This strategic move comes as Acko prepares for an initial public offering (IPO), which is anticipated to generate around $250 million.
In April, reports indicated that the Bengaluru-based company had confidentially filed draft papers for the IPO, which could value Acko between $2 billion and $2.5 billion, a significant increase from its last valuation of approximately $1.4 billion.
Leadership Changes
Kalra is one of four senior executives recently brought on board. Other notable hires include:
- Kunal Kapur: Formerly with Meta, now leading the health insurance business.
- Vivek Sharma: Founder of Fixcraft, appointed to oversee the Acko Drive ecosystem, which encompasses car buying and vehicle servicing.
- Neha Gupta: Previously with Zepto, now responsible for enhancing customer experience across the company.
Satheesh KV, Acko's chief people officer, expressed enthusiasm about the new leadership, noting their ability to enhance customer experiences through their expertise.
Company Background
Founded by Varun Dua, Acko received its insurance license in 2017 and commenced operations the following year. The company has successfully raised over $583 million from various investors, including General Atlantic, Multiples Private Equity, Accel, Elevation Capital, and the Canada Pension Plan Investment Board.
Financial Performance
In FY26, Acko underwrote motor insurance premiums totaling ₹1,186 crore and health insurance premiums of ₹1,235 crore, showcasing the increasing importance of its health insurance segment alongside its core motor insurance business. For FY25, Acko reported revenues of ₹2,887 crore, with a net loss of ₹424 crore, an improvement from a loss of ₹670 crore in FY24, indicating progress toward profitability.
