New Delhi: New age technology-based insurer ACKO on Friday said it has registered over three-fold jump in its gross written premium in the first quarter ending June. The company had reported a gross written premium of Rs 56.21 crore in the year-ago period.
Auto insurance, which is one of the major components of the company’s portfolio, witnessed over 120 per cent rise with the increasing digital adoption, accelerated by Covid-19, the company said in a release.
“ACKO has posted Rs 81 crore in gross written premium in Q1FY22, registering a growth of 1.16X for the auto business when compared to the same quarter of FY21.”
“New customer growth from non-metro cities grew by 3.5X in the year while it grew by 2.5X in the metro cities, signaling a confirmed shift in customer’s digital experiences across industries, including insurance,” it said.