Latest news with #ACKO
New Indian Express
9 hours ago
- Automotive
- New Indian Express
Lenders, insurers line up to partner with Tesla in India
NEW DELHI: As US electric vehicle giant Tesla officially entered the Indian market this week, it wasn't just auto enthusiasts who took notice. Leading banks and insurers swiftly moved to align themselves with the EV trailblazer, eager to tap into the growing demand for premium electric mobility. Kotak Mahindra Prime (KMPL) was announced as Tesla's preferred financier in India. Commenting on the partnership, Shahrukh Todiwala, MD & CEO of KMPL, said, 'Tesla has redefined mobility with its cutting-edge technology. Its entry into India marks a pivotal moment for the country's automobile sector as it shifts toward greener alternatives.' KMPL rolled out dedicated car financing options integrated directly into Tesla India's online portal and mobile app, aiming to make Tesla ownership more accessible. On the insurance front, players like ACKO, Zurich Kotak, and Liberty General Insurance unveiled strategic tie-ups tailored for Tesla buyers. Digital-first insurer ACKO has been named Tesla's preferred insurance partner. Animesh Das, MD & CEO of ACKO General Insurance, said, 'Tesla didn't just build a car; they rebuilt the idea of what a car is. At ACKO, we asked ourselves — can we do the same for insurance?' The partnership promises a fully digital, seamless experience from quote to claim, mirroring Tesla's emphasis on simplicity and performance.
Time of India
4 days ago
- Automotive
- Time of India
Liberty General Insurance, ACKO become Tesla's insurance partners in India
As Tesla announced its foray into the Indian market on Tuesday, Liberty General Insurance and ACKO said they have become insurance partners for the American electric carmaker in India. Liberty General Insurance said it has developed a suite of finely tuned protection plans that complement Tesla's engineering and performance excellence while anticipating the distinct needs of EV users. "At Liberty, we're deeply honoured to be among Tesla's preferred insurance providers for the Indian market. We see this as a moment of transformation, not just in how we drive, but in how we protect, serve, and anticipate the needs of the next generation of motorists," Liberty General Insurance CEO & Whole-Time Director, Parag Ved said in a statement. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Pattamangalam: 1 Trick to Reduce Belly Fat? Home Fitness Hack Shop Now Undo ACKO also said it has been selected as Tesla's "preferred insurance partner for the country". "Tesla has revolutionised the automotive industry; our ambition is to redefine how that innovation is protected," ACKO General Insurance Ltd Managing Director & CEO Animesh Das said. Live Events ACKO said through its collaboration, Tesla owners can expect a fully integrated, entirely digital and minimal journey from quote to cover to claim. In a separate statement, Zurich Kotak General Insurance said it has launched ' EV Protect ', a comprehensive add-on cover within its car insurance product, Car Secure, for Indian electric vehicles (EVs), which covers Tesla among other EVs. As Tesla marks its much-anticipated entry into the Indian market, 'EV Protect' has been designed to provide a premium protection plan that ensures the EV stays as cutting-edge on the road as it is under the hood, it said. 'EV Protect' is a comprehensive ecosystem of protection that empowers EV owners to embrace electric mobility with confidence, safety, and complete peace of mind, Zurich Kotak General Insurance's MD and CEO Alok Agarwal said. "The product embodies our commitment to innovation and sustainability. It marks a significant turning point in the EV insurance space," he added.
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Business Standard
4 days ago
- Automotive
- Business Standard
Tesla drives into India with ACKO as its EV insurance partner: What to know
As Tesla gears up to enter the Indian market, it's not just the cars that promise to be sleek, smart, and futuristic—the insurance experience is getting a high-tech upgrade too. ACKO General Insurance has been selected as Tesla's preferred insurance partner in India, setting the stage for a new kind of digital-first auto coverage, built specifically for electric vehicles (EVs) and the people who drive them. With this collaboration, Tesla buyers in India will have access to a fully integrated insurance experience, embedded seamlessly into the car-purchasing process. From getting a quote to filing a claim, everything will be digital, paperless, and streamlined—a far cry from the traditional, form-heavy insurance model most Indian customers are used to. 'Tesla didn't just build a car—they rebuilt the idea of what a car is. At ACKO, we asked ourselves: can we do the same for insurance?' said Animesh Das, MD & CEO, ACKO GI. 'The result is something quiet, responsive, and human—just like how the best tech should feel.' This integrated model may help lower the total cost of EV ownership, encourage faster adoption, and bring clarity to EV-specific insurance needs—such as battery replacement, software-related issues, and charging station support. What you should know about ACKO: Over 78 million unique customers 1+ billion policies issued Embedded partnerships with OYO, Zomato, redBus, Urban Company, and more Zero-paperwork insurance across health, auto, travel, and life India's first Flexi Term Life Plan launched in 2023 Health insurance collaborations with startups like Swiggy, Razorpay, and CRED, insuring 8+ lakh lives ACKO has a stronghold in mobility and gadget insurance, making it well-positioned to understand the digitally connected, tech-forward lifestyle of Tesla buyers. For potential Tesla buyers and EV enthusiasts: Embedded insurance could bring cost transparency and convenience ACKO's app-first model will likely reduce claim settlement time and service delays Buyers may enjoy customized policies designed for electric mobility, a rarity in India For existing EV owners or luxury car buyers, this also signals a shift: Insurers are now investing in specialised, tech-driven offerings, with performance, maintenance, and software updates in mind. " At the heart of this association lies a common goal: to simplify car-ownership through intelligent technology. By embedding insurance directly into the car-buying experience, Tesla and ACKO aim to reduce complexity, enhance customer convenience, and accelerate the adoption of electric vehicles in India. This association marks a significant milestone in India's mobility landscape, demonstrating how intelligent products and services can converge to make ownership simpler, smarter and more sustainable," Tesla and ACKO said in a joint statement.
Time of India
19-06-2025
- Time of India
The rise in travel disruptions and the need for protection
Travel disruptions have become increasingly common due to factors like unpredictable weather, strikes, and global uncertainties. These unexpected interruptions can lead to financial losses and emotional stress for travellers. As journeys become less predictable, the need for reliable travel protection has never been more critical. So, keep reading this blog to know more in detail. Common Causes Behind Travel Disruptions Insurers like ACKO offer smart, affordable travel insurance solutions that help safeguard your plans, letting you explore the world with confidence, no matter what comes your way. Hence, some common causes of travel disruptions faced by travellers include: 1. Weather Extremes: India and other countries have witnessed an upward trend in the incidence of unpredictable weather. Heavy showers, floods, or hurricanes may lead to flight delays and cancellations. Local weather events can just as easily throw your travel plans for an uncertain loop. 2. Airline Strikes and Staff Shortages: Labour strikes by pilots, ground staff, or air traffic control can result in the closure of airports or significant flight delays. Moreover, the shortages of staff at several international airports have only added to the problem of trip delays. 3. Technical Glitches and Operational Delays: These include failures in airline systems, radar outages, last-minute checks, and maintenance that often cause flight delays. These disruptions not only affect departure schedules but also lead to missed connections and extended layovers. 4. Political Unrest and Conflicts: Instabilities, protests, or global tensions may block the travel routes to restrict flight cancellations or diversions. Last-minute disruptions are very well a risk for Indian travellers visiting politically sensitive areas. 5. Health-Related Emergencies: A travel standstill due to a health crisis was significantly understood during COVID-19. Thus, sudden illness, accidents, or hospitalisation can result in unexpected trip cancellations. How Travel Disruptions Affect Travellers The following are how travel disruptions affect travellers: Non-Refundable Bookings: Hotel rooms and often package tours and local transport come with strict cancellation terms. Delayed flights or missed connections imply significant monetary losses. Extra Personal Expenses: Additional expenses for hotel stay due to layovers, hurried rebooking, meals, and local transport quickly pile up, straining the travel budget. Not An Opportunity: For business travellers, disruptions may mean missed meetings, inevitable delays in projects, and business deals. For leisure travellers, it may mean losing out on once-in-a-lifetime experiences. Emotional Stress: Anxiety about being stranded in an unfamiliar place, uncertainty over rescheduled plans, and the pain caused by unhelpful customer service teams only add to one's burdens. Why Travel Insurance Protection is Essential Here is why proper travel insurance is necessary to protect one from different travel disruptions: 1. Financial Reimbursement: A proper travel insurance will reimburse the insured for costs incurred because of trip cancellations, interruptions, or delays, as per policy terms, thus reducing the financial impact due to unforeseen circumstances. 2. Coverage for Medical Emergencies: One will surely feel overwhelmed should they find themselves falling sick or being injured abroad, especially with a high cost of healthcare. Travel insurance lets one get quality medical attention without emptying pockets. 3. Lost or Delayed Baggage: Imagine losing your luggage after checking-in. This means you are left with no essentials, especially on an international trip. Insurance offers reimbursement for the cost of essentials while you wait for your baggage to arrive or for replacement if it is lost as per policy conditions. 4. Passport and Document Loss: The misplacement of a passport or any critical travel document abroad can be a nightmare in a foreign land. Travel insurance helps cover the cost of having those documents reissued and assists in negotiating the local bureaucracy. 5. 24x7 Assistance: Most insurers offer worldwide support and assistance to their customers-whether it would assist a traveller in finding a hospital, filing a claim, or even booking emergency accommodation. Key Features to Look for in a Travel Insurance Policy Here are the key features people must look for when buying a travel insurance plan: Trip Cancellation and Interruption Cover Medical Expense Coverage Baggage and Personal Belongings Cover Coverage Across Travel Types Cashless Hospitalisation Customisable Plans Adventure sports coverage Repatriation of mortal remains Evacuation, emergency extension and stay Flight delay, rescheduling, or cancellation Final Thoughts In the end, in a world full of growing uncertainties, securing your travels with a proper travel insurance plan offers not only financial cover but peace of mind. Whether one falls behind due to flight delays or faces a more dreadful emergency with health, being prepared only allows a smooth and stress-free journey. Make sure you read the policy documents, with details of policy inclusions and exclusions, properly, so that you do not face any hassle during claiming.
Yahoo
16-06-2025
- Automotive
- Yahoo
Rising Demand for Usage-Based Car Insurance for Smart Financial Planning
BENGALURU, IN / / June 16, 2025 / Car insurance in India is undergoing a significant shift, driven by evolving consumer expectations and the need for more personalised financial solutions. One of the standout trends is the rising demand for usage-based car insurance. As insurers adopt telematics-driven models like pay-how-you-drive, policyholders are increasingly exploring plans that align premiums with actual driving behaviour. This approach reflects a broader movement towards cost-efficiency, responsible driving, and data-backed financial planning. This blog will inform you about what usage-based car insurance is and also analyse why its demand is increasing. Also, if you want to know more about car insurance, do visit ACKO Insurance. What is Usage-Based Car Insurance? UBI, or usage-based insurance, is a way of designing a car insurance plan. It bases your premium on how you drive and how much you drive. Its way of setting a premium for an insurance plan is very different from traditional motor insurance, as it does not follow a fixed rate. Here, insurers analyse data such as your speed, braking patterns, etc. to come to a premium amount. UBI also rewards safe and responsible drivers. Therefore, if a person drives less or drives more cautiously, they get to enjoy lower premiums. How Does Usage-Based Car Insurance Work? UBI works by tracking the insurance holder's driving habits using telematics technology. Telematics technology is a branch of information technology which helps insurers collect real-time data. This helps them in personalising the insurance plan. Firstly, the insurers build your risk profile. Then they offer lower premiums to those who drive safely. So the primary step is collecting the data, which helps the insurers derive your driving information. There are different ways through which insurance providers can monitor and collect data. They are as follows: Telematics Device: Insurers give you a telematics device to install in your car, which records all your driving behaviour. On-Board Diagnostics (OBD) Sensors: You can plug these sensors into your car's OBD port. They track and share real-time driving data. Plug-In Device: These are small devices, like a pen drive, which you can plug into your car, and they collect essential driving information. GPS Device: Advanced GPS units can also gather and share data related to your driving speed, routes, and habits. Mobile App: Some insurers use mobile apps as telematics tools. Here, you just need to install the app on your smartphone, which then tracks your driving. It tends to be less reliable, especially during claims. Rising Demand: Benefits of Usage-Based Car Insurance The rising demand for usage-based car insurance is due to its several benefits. These benefits are as follows: Rewards for Safe and Responsible Driving Since insurers analyse drivers' driving data, they tend to offer them lower premiums based on their driving habits. These habits can include patterns of following traffic rules and more. Helps You Improve Your Driving Habits The monitoring of your driving habits makes you aware of them. This helps you in correcting your mistakes and driving more responsibly. Saves Money for Infrequent Drivers If a person does not drive often, UBI charges them less than the standard policies. This reduces the insurance expenses significantly. Enables Better Road Safety Telematics also promotes a culture of safer roads. This happens as it encourages safe driving among users. Supports Faster and Fairer Claims Accurate driving data helps insurers verify incidents faster and more accurately. This not only helps in speeding up claim approvals but also makes the process more transparent. Improves Theft Recovery Chances Insurers can use real-time tracking to help locate and recover stolen vehicles quickly. This offers added peace of mind for the policyholders. Customises Policies to Individual Needs Insurers can also personalise the coverage plans for their customers with reliable data. These plans add to the customer's convenience as they suit their driving habits and car usage. Increases Customer Satisfaction and Retention Lastly, fair pricing, transparency, and tailored premiums make customers feel valued. This boosts their trust and long-term loyalty toward insurers. Difference Between Usage-based Motor Insurance and Conventional Motor Insurance There is a significant difference between usage-based motor insurance and conventional motor insurance. Understanding these differences can also help in analysing the rising demand for UBI. The table below presents some primary differences in these insurances: Factors Usage-based Motor Insurance Conventional Motor Insurance Model Popularity New in the insurance market Widely accepted Offers Personalised policies Generalised policies Extra Factor Needs a telematics device installation No such installation is required Future Possible exponential growth Limited future scope Bottom Line As vehicles get smarter, it is only natural that your insurance follows suit. Usage-based car insurance is a practical, tech-driven response to integrate more fairness and modern mobility needs. With more insurers offering personalised plans, customers can now enjoy coverage that truly matches their lifestyle. This is the future of motor insurance, which is not just digital but also deeply Details:Website: hello@ SOURCE: Acko View the original press release on ACCESS Newswire Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
