Acko General Insurance Limited has announced a partnership with HDB Financial Services Ltd, India's leading Non-Banking Financial Company (NBFC). Acko is India's first and fastest-growing InsurTech company committed to making insurance more meaningful and compelling to consumers via personalized underwriting, micro Insurance products, and a paperless, automated single-click micro claims process built on world-class technology.
HDB Financial Services (HDBFS) offers Aabhar cards (EMI cards) to its customers when they avail Sales Finance from General trade stores/Large Format Retail etc. The insurance covers are in-built features of the Aadhar card.
Acko will be powering the Aabhar cardholder with micro insurance cover which will provide a range of benefits including Vector borne disease cover, loan protector and hospital cash allowance to HDB Customers.
This collaboration is great news for HDBFS customers as it will offer insurance covers at no additional cost with EMI cards such as the HDB Blue and Platinum Aabhar cards.
Both the companies believe in offering a smooth and seamless consumer journey. Claims can be filed through Acko's website. The process has been designed to minimize hassles for consumers and ensure quick claim settlement.
Speaking on the partnership, Mr. Rakesh Kumar, Product Head - HDB Financial Services, said, "The HDB-Acko partnership is a great step towards boosting the overall customer experience."
Ashwin Ramaswamy, Business Head - Partnerships at, Acko said, "This partnership springs from a shared commitment towards a consumer-first approach, from both the brands. Between Acko's insurtech expertise and HDB's unique digital EMI capabilities, we will deliver an exceptional insurance cover that is simple, quick and will protect consumers in their time of need."
Shares of HDFC Bank Ltd was last trading in BSE at Rs.1199.35 as compared to the previous close of Rs. 1199.65. The total number of shares traded during the day was 933802 in over 16055 trades.
The stock hit an intraday high of Rs. 1202.5 and intraday low of 1181. The net turnover during the day was Rs. 1111739776.