In an all-cash transaction, the insurtech startup Acko purchased OneCare, a digital chronic care management provider.
According to a press release from the company, this is a calculated move to reaffirm Acko’s larger goal of providing its clients with comprehensive healthcare that goes beyond insurance services.
After the transfer, OneCare co-founders Rakesh Shivran and Sagar Bhat will also become members of Acko’s leadership team, contributing their vast knowledge and expertise in developing expansive health-tech services.
With the help of cutting-edge wearables, data-driven insights, and the accessibility of both physical clinics and virtual care teams, OneCare has created a novel omnichannel care model.
Acko hopes to create a healthcare ecosystem through the acquisition that takes care of all facets of a client’s insurance needs, including protection, prevention, care, and recovery.
In collaboration with more than 50 of the top companies in the online ecosystem, including Oyo, redBus, Zomato, HDB Financial Services, and Urban Company, Acko holds one of the biggest market shares in embedded insurance products like mobility and gadget insurance. The company asserts that it has issued more than 1 billion insurance policies and distributed insurance to over 78 million customers.
