online insurance technology platform Acko has acquired Mumbai based VLer Technology, a startup aiming to disrupt the online car ecosystem space.
Since the past 3 years, VLer has been working on solving the broken car retail experience in the country. VLer's core premise was around bringing in a fluid, transparent and haggle-free experience of purchasing a car, done primarily digitally.
This was done through an algorithm-based recommendation system, dealer negotiations along with taking care of financing, insurance and other related paperwork after finalising of the deal.
VLer was founded by Sanjay Bharti and Akash Saxena, both graduates of IIT Bombay, who have several years of experience in the technology and retail domain between themselves. Both the co-founders have joined Acko Technology team.
With this acquisition, Acko is getting into strengthening their auto eco-system. VLer's capabilities and know-how in this area shall help Acko improve their offering to customers and look to provide better customer satisfaction across the entire lifecycle of car purchase and usage.
“Insurtech is our core and major focus area. Our next steps on this are to track down various data points on customer behaviour, usage patterns to enhance insurance and underwriting technology. We believe with the domain expertise of VLer team, it will help us leverage this faster,” said Ruchi Deepak, Co-founder of Acko.
Acko Technology and Services is holding the company of Acko General Insurance Limited. Acko was founded in 2016 and it has partnered with major tech companies like Amazon and Ola.
