ACKO has announced the appointment of industry veteran Sanjeev S as part of its leadership team. Sanjeev will also be joining the Board of Directors of ACKO Insurance.
ACKO aims to meaningfully redefine the protection category for consumers. The company plans to enter the health insurance business and has recently announced a Series D fundraise upwards of $250mn, making it India’s latest Unicorn. The fundraise was led by General Atlantic and Multiples Private Equity. The round also included participation from Canada Pension Plan Investment Board and Lightspeed, as well as existing investors, Intact Ventures and Munich Re Ventures.
Sanjeev’s appointment comes at a crucial juncture as ACKO gears up for scale and rapid growth. Sanjeev’s extensive experience coupled with ACKO’s technology prowess will help the company realize its vision for growth and innovation.
“In the last four years, ACKO has pioneered many firsts, from direct-to-consumer insurance to embedded insurance, and has also brought the customer back into focus with fair pricing, seamless claims, and built a new-age brand. From an upstart, it has created a strong platform and taken the first step, and ACKO needs strong leaders for its next phase. Leaders who imbibe the same values and passion bring their wealth of experience”, said Varun Dua, Founder & CEO of ACKO. “We couldn’t have asked for anything better than having Sanjeev come on board with his 20+ years of experience. In Sanjeev, we have a partner who can propel the vision forward and play a crucial role in getting ACKO ready for its innings at scale,” he added.
An industry veteran, Sanjeev has over 20 years of experience working with leading companies such as Fullerton India Credit, and ING Vysya Life Insurance, among others. He has taken on diverse roles in the sector ranging from sales, planning, and distribution to marketing and managing business across different verticals. Sanjeev’s last role was the CEO of Bharti AXA General Insurance which recently merged with ICICI Lombard.
Commenting on his new role, Sanjeev S said, “It’s heartening to see what the young and dynamic team at ACKO has already created in the first four years of being in business – the collective resolve to make insurance convenient, transparent, and interesting for customers is infectious and deeply inspiring. It’s a great opportunity to build on this solid foundation and culture and make the collective vision a reality.”
“As a platform, ACKO empowers customers to have a preference in buying products and services. This is backed by data and insight, which help ACKO differentiate and customize its offerings. This fundamental shift in consumer behaviour creates a huge opportunity for ACKO. It enables delivery of simple and transparent propositions through technology that is easy to engage, he further added.”