Amazon Pay ties up with Acko to sell auto insurance

Digital payments major, Amazon Pay has launched vehicle insurance in partnership with Bengaluru-based startup Acko General Insurance. Amazon Pay, which is the payments unit of Amazon India, will help customers purchase insurance effortlessly and Amazon Prime members will get extra benefits including additional discounts.

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About Partnership:

• Amazon has been selling third-party insurance products but this partnership will enable an easy-to-use integrated buying experience for its customers.
• 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.
• Policyholders will also have an option for instant cash settlements for low-value claims, making it beneficial for customers.
• Additionally, customers can select from a list of add-ons like zero-depreciation and engine protection and they will be able to pay for the insurance using Amazon Pay balance, UPI, or cards.

Important takeaways for all competitive exams:

• Amazon Pay Headquarters: Seattle, Washington United States.
• CEO & MD for Amazon Pay India: Mahendra Nerurkar.
• Acko General Insurance Ltd Founder: Varun Dua.
• Acko General Insurance Ltd Headquarters: Mumbai.

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