Meet man who used to work in Tata Group firm, then built Rs 1759 crore revenue company, not from IIT, IIM
His company recently acquired digital chronic care management company OneCare.
Despite not studying at top colleges like IIT or IIM, many entrepreneurs have built successful companies. They started their career working in other companies, gained experience and eventually launched their companies. One such person who is successfully running his 8-year-old firm is Varun Dua, founder and CEO of ACKO General Insurance.
It is reportedly India’s first digital insurance company, which Varun founded in 2016. It follows a direct-to-consumer model in offering insurance products. Acko recently acquired digital chronic care management company OneCare. Acko’s revenue from operations increased 31.9 per cent to Rs 1,759 crore in FY23 from Rs 1,334 crore in FY22 while the losses surged 53.1 per cent to Rs 738 crore.
Varun worked in the finance industry for over a decade. He worked in Tata Group's Tata AIG Life Insurance as a Marketing Manager for four years (2003 - 2007). Before founding Acko, he served as CEO of Coverfox Insurance for over 3 years. Varun also co-founded GlitterBug Technologies in November 2010. He is an alumnus of Mumbai University. Varun also attended MICA - The School of Ideas.
His company has raised around USD 450-460 million to date from the likes of General Atlantic, Accel, Elevation Capital, FPGA family foundation, and others. Within two years of launching its group health insurance product, Acko claims to have onboarded over 200 new-age companies, including Swiggy, Razorpay, and Cred, insuring more than 8 lakh clients.
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