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Digital general insurance company Acko raises $12 million from Amazon

After backing lending company Capital Float recently, Amazon has now invested $12 million in a digital general insurance company, Acko General Insurance. The round of funding also saw participation from ChrysCapital's Ashish Dhawan, and existing investor, Narayana Murthy’s Catamaran Ventures. The latest fund infusion takes Acko’s total equity funding to nearly $42 million, the company said in a statement. The digital insurance company sells general insurance products like auto insurance and mobile insurance on its online platform. Acko has a partnership with cab-hailing company Ola for in-trip insurance for riders. The insurance program allows users to claim insurance of up to Rs 5 lakh benefits in cases of loss of baggage or laptops, missed flights, accidental medical expense, ambulance transportation cover, etc. The company was set up by Varun Dua in 2016, who previously founder of Coverfox which operated an insurance distribution company. Acko is also the…

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