ACKO today announced the appointment of Aravind Venugopal as its first General Counsel. Aravind is a seasoned corporate attorney with over 12 years of experience, specializing in M&A and financial services. He brings a deep understanding of legal, compliance, regulatory and structuring aspects of multiple sectors including insurance, financial services, technology, IT and ITES, infrastructure et al. Aravind's insurance practice is recommended by Legal500.

At ACKO, Aravind’s role will be to provide strategic counsel to the management team on expansion plans and new business initiatives. Aravind will also help build a world-class legal team that will enable ACKO to navigate the dynamic and evolving regulatory environment.

Prior to joining ACKO, he was a partner with the Mumbai and Bangalore offices of Khaitan & Co, a leading Indian law firm, advising on the largest M&A transactions. Aravind brings extensive experience in the insurance sector. He has advised Nippon Life on all Indian investments (across insurance and mutual funds), India's largest foreign direct investment in the financial services sector.

He has also advised True North on the acquisition of a controlling stake in Max Bupa, Aditya Birla Group on the creation of their health insurance JV and bid for acquisition of IDBI Federal Life Insurance, and Union Bank on the divestment of its stake in India First Life Insurance.

Aravind has also advised various insurers and distributors on bespoke distribution arrangement and associated regulatory issues.

Speaking about Aravind’s appointment, Ruchi Deepak, Co-founder of ACKO, said, “We are delighted to welcome Aravind to our leadership team. In his new position, he will lead the regulatory affairs.  His extensive experience in the insurance sector will help ACKO achieve effective governance, compliance, and better understanding of the law of the land.

 

About ACKO:

ACKO is one of India's first digital-native insurers with its entire operations offered through the digital platform. Founded in 2016 by Varun Dua and Ruchi Deepak, ACKO’s entire process is designed to provide a better customer experience and to eliminate the pain points associated with the traditional model, with processes that require zero paperwork, from purchase and claims to renewals. ACKO has pioneered the direct-to-consumer auto insurance space in the country.  It also has one of the largest market shares in embedded insurance products like mobility and gadget insurance in partnership with 35+ leading players in the internet ecosystem such as Ola, Oyo, redBus, Zomato, HDB Financial Services and Urban Company. Within a year of its launch, ACKO’s Group Health Insurance product has on-boarded 70+ new age, people-first companies including Virtusa, Swiggy, Razorpay, CRED, Akzo Nobel, Xiaomi and Go-MMT and insured nearly 2.8+ lac lives. In a span of 3 years of operations, the company has distributed insurance policies to over 70+ Mn unique customers and issued 1 Bn+ insurance policies. 

For more information, visit www.acko.com or follow  on Facebook and Twitter.

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