Multipl and ACKO partner to revamp digital car insurance payments

By Leandra Monteiro

One of India’s largest ‘Invest now, Spend later’ platforms, Multipl has partnered with the tech-first insurer ACKO to provide integrated insurance payment options to its customers.

ACKO, a tech-first direct-to-consumer company, has significantly reshaped the insurance landscape with its commitment to making insurance buying and claims processing hassle-free. The partnership of Multipl and ACKO is a step to provide the new age car owners an option to invest and renew their policy with the extra benefit of returns. This partnership caters to new-age customers seeking convenience and added benefits in their insurance choices.

“Insurance premium is a big recurring expenditure for car owners, especially if they have multiple cars. With our integrated ACKO insurance option, car owners can not only plan for insurance payment but also get rewarded for their savings and make instant payments,” said Paddy Raghavan, Co-founder of Multipl.

The association will see a seamless integration of the features of ACKO in the Multipl platform which will allow individuals to create a goal for their annual insurance premium as a part of its save and spend smartly business model. Individuals can then save in small equal amounts for a duration of three to 12 months to achieve the goal. This will enable individuals to relook at their policy buying and renewing behaviour.

Multipl also provides individuals the benefit of being able to invest their savings in curated direct mutual funds based on the risk profile on its platform. This will fetch returns on the invested amount and upon maturity, individuals can make the premium payment on the ACKO interface which is integrated into the Multipl app.

For this year’s premium payment for buying ACKO car insurance, Multipl has also opened the facility of instant payments.

“ACKO has established itself as a problem solver within the ecosystem, prioritizing the needs of its customers. We are delighted to collaborate with Multipl, as we recognize the synergy in our customer profiles and our commitment to resolving customer issues. We firmly believe that this partnership will contribute to streamlining the insurance payment experience for the customers,” said Mayank Gupta, Vice President – Auto, ACKO.