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Amazon Pay ties up with Acko to offer vehicle insurance

Customers can use Amazon Pay balance, UPI, or any saved card to make payments.

July 23, 2020 / 10:27 PM IST

Digital payments major Amazon Pay has launched vehicle insurance in partnership with Bengaluru-based startup Acko General Insurance. The product will now be available on the Amazon Pay home page.

Moneycontrol was the first to write about this impending integration on May 12.

Amazon has been selling third-party insurance products but this partnership will enable an easy-to-use integrated buying experience for its customers.

“…we are excited to launch an auto insurance product that is affordable, convenient, and provides a seamless claims experience,” said Vikas Bansal, director and head of financial services at Amazon Pay India.

The e-commerce player promises zero paperwork coupled with features like one-hour pick-up and three-day claim servicing along with one-year repair warranty in few cities. Customers can use Amazon Pay balance, UPI, or any saved card to make payments.

Amazon is also one of the investors in Acko, having led a round in 2018. The company had said at the onset that Amazon will leverage these investments for future partnerships to expand its financial services offerings in the country.

“Through this product we aim to deliver a superior consumer experience, right from purchase to claims by making it more affordable, accessible and seamless. This launch also marks an important milestone in our successful partnership with Amazon,” Acko General Insurance​ chief executive officer Varun Dua said.

Pratik Bhakta
first published: Jul 23, 2020 12:26 pm