Indian digital insurance pioneer Acko Technology & Services Pvt. is reportedly gearing up for a significant milestone—a $350 million initial public offering (IPO) on the Indian stock market. Backed by the global private equity giant General Atlantic (GA) and other investors, Acko is actively reaching out to investment banks as part of its preparations for this sizeable public listing.

Acko has carved out a strong position in India’s fast-growing insurtech space, offering a variety of digital insurance products focused on mobility, gadgets, health, and more. Leveraging technology to simplify insurance, Acko has built partnerships with more than 50 companies, including big names like redBus, Zomato, HDB Financial Services, and Urban Company, reflecting its reach and influence in the embedded insurance market.

The company’s IPO move comes amid a buoyant Indian IPO market this year, which has welcomed numerous tech-focused and new-age companies. Notable recent entrants include Meesho, Pine Labs, Groww, Physicswallah, and others who have collectively raised billions, signaling strong investor appetite for innovative tech businesses.

Acko’s growth story is compelling. Despite being a relatively young company, it already commands one of the largest market shares in embedded insurance products, particularly mobility and gadget insurance. Its expansion into group health insurance has also been noteworthy, onboarding over 200 companies in just two years, including prominent names like Swiggy, Razorpay, and CRED.

Financially, Acko is reportedly narrowing its losses while accelerating growth, which positions it well to attract investor interest during the IPO. The raised capital from the IPO will likely fuel further expansion, product innovation, and market penetration.

For investors and market watchers, Acko’s IPO will be interesting to follow, as it illustrates the increasing maturity and potential of the Indian insurtech sector—a segment that’s rapidly evolving and transforming how Indians buy insurance. Moreover, with the backing of a global investor like General Atlantic, the company’s move to go public signals confidence in sustained growth and scale.

In summary, Acko’s pursuit of a $350 million IPO highlights both the firm’s ambitions and the broader momentum in India’s digital insurance landscape. As the company navigates toward its market debut, it taps into a vibrant IPO environment and a sizable opportunity to reshape insurance accessibility and convenience for millions across India.