Insurtech leader Acko is making a bold move to revolutionize healthcare! They’ve acquired digital chronic care company OneCare, signaling their intent to become your one-stop shop for health and insurance.
The deal was an all-cash transaction, although the company did not disclose the financial details of the acquisition.
As part of the deal, OneCare’s cofounders Rakesh Shivran and Sagar Bhat will be joining the leadership team of Acko.
Acko has raised over $450 Mn in total funding from investors, including Amazon, General Atlantic and Multiples Private Equity. In FY23, the startup reported a net loss of INR 738.5 Cr, up 53% year-on-year, while its operating revenue grew 32% to INR 1,758.6 Cr.
Acko’s vision goes beyond basic insurance. They’re building a comprehensive healthcare ecosystem, a move that underscores the booming insurtech market in India. Similar players like PolicyBazaar and Digit Insurance are also expanding their offerings, making insurtech a hotbed of innovation.
This strategic move highlights a key trend: the rise of tech-driven healthcare. We can expect more insurtech companies to leverage AI, automation, and data to personalize your healthcare experience.
Acko’s acquisition is a glimpse into the future of healthcare in India, where technology empowers better care and a more holistic customer experience.
