Insurtech company Acko has announced the acquisition of digital chronic care management company OneCare in an all-cash deal, aiming to reinforce its vision of becoming a comprehensive healthcare provider. This strategic move highlights Acko’s commitment to expanding beyond insurance services to offer a holistic healthcare ecosystem for its customers.
The acquisition will see Rakesh Shivran and Sagar Bhat, co-founders of OneCare, joining Acko’s leadership team. Their extensive experience in building large-scale health-tech services is expected to be instrumental in Acko’s future growth and service expansion.
OneCare has developed an innovative omnichannel care model that integrates advanced wearables, data-driven insights, and the accessibility of both physical clinics and virtual care teams. This model aims to provide seamless, continuous care for chronic conditions, leveraging technology to enhance patient outcomes.
With the acquisition of OneCare, Acko intends to address all aspects of its customers’ health insurance needs, from protection to prevention, care, and recovery. This expansion aligns with Acko’s broader goal of creating a robust healthcare ecosystem that supports every stage of the customer journey.
Acko is already a leader in the embedded insurance market, providing mobility and gadget insurance through partnerships with over 50 major players in the internet ecosystem, including Oyo, redBus, Zomato, HDB Financial Services, and Urban Company. The company boasts over 78 million customers and has issued more than 1 billion insurance policies.
The integration of OneCare’s advanced healthcare solutions is expected to enhance Acko’s service offerings, making it a more comprehensive and customer-centric healthcare provider. This move underscores Acko’s dedication to innovation and its vision of transforming the healthcare and insurance landscape.
