BlackBuck & Acko Partners Together to Bring-in Cashless Vehicle Insurances in Truck Logistics

By SiliconIndia   |   Friday, 23 November 2018, 06:09 Hrs
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Blackbuck, a trucking logistics company owned by Zinka Logistics, partners with Acko, a leading general insurance company, to introduce an insurance offering for commercial vehicles in India later this year. The new insurance offering will focus on technology to prevent commercial vehicle accidents and shorten the time to get documents and other assets up.

It is said that three percent of Indian GDP is lost due to road accidents and the recent innovation has an edge over conventional insurance companies as it eases insurance processing by offering online payment of premiums and cashless settlements. It cut shorts the time taken for post-accident repairs by eliminating the need for a spot survey to assess the accident. Being cashless, removing financial constraints for fleet operators, drivers can easily avail the insurance with just the digital/scanned copy of the insurance or even just SMS of the policy number, making it scalable.

With over 250,000+ trucks, 1000+ locations, 1300+ employees and 10,000+ shippers, BlackBuck has organized, digitized and transformed the traditionally unorganized and offline shipping and hence emerged as one of the largest trucking network in India. Ramasubramaniam B, Co-Founder & COO – Services Platform, Blackbuck says, “The new insurance offering will have an immense positive social impact on this sector - mitigating human and vehicle losses - and add significant value to the fleet owners and drivers. Keeping their vehicle up and running is the most critical thing for fleet owners and we are thrilled to partner with Acko - a new age, tech-driven insurance company.”

The partnership with Acko will make them use GPS for better underwriting, ensure faster and more accurate claim processing, help fleet owners get their vehicle back on road in minimum time and mitigate the loss of business. Additionally, Acko will provide several other insurance conveniences for Fleet Owners on the BlackBuck platform.

“Acko and BlackBuck share a digital DNA and have a flair for simplifying the complicated. Through this partnership, Acko will assist the Fleet owners and partners of BlackBuck with a trouble-free, tech-backed insurance that will expedite claim settlement through GPS data and help build an efficient trucking ecosystem”, commenting on the partnership, Varun Dua, Founder & CEO, Acko. Founded in 2016, Acko differs from others by its simplicity, affordability and focus on technology. Prior to the partnership with BlackBuck, it has previously partnered with Amazon, Ola and has insured more than two hundred million Ola rides.

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