Varun Dua - The Pioneer of Digital Insurance Revolution
Varun Dua is one of India's leading entrepreneurs who revolutionized the insurance sector through digital innovation. As the founder and CEO of Acko General Insurance, Varun simplified and streamlined the insurance process by leveraging technology. His customer-centric approach and vision to make insurance accessible, transparent, and hassle-free have challenged traditional insurance models in India.

Early Life and Education
Varun Dua was born into a middle-class family in Delhi. His father, Chander Mohan Dua, and mother, Rashmi Dua, instilled values of hard work and perseverance in him. He completed his undergraduate studies at Delhi University and later earned an MBA from the prestigious Narsee Monjee Institute of Management Studies (NMIMS), Mumbai.
Varun’s education and upbringing played a significant role in shaping his determination and innovative mindset. His exposure to the complexities of the insurance industry during his career laid the foundation for his entrepreneurial journey.

Career Beginnings
Varun started his career with renowned financial institutions like Tata AIG and ICICI Lombard, gaining deep insights into the insurance industry.
Recognizing the need for a simpler insurance process, Varun founded Coverfox in 2013. Coverfox is an online insurance aggregator that helps customers compare and purchase insurance policies. The success of Coverfox inspired him to delve deeper into the insurance domain and take it to the next level.

Founding Acko General Insurance
In 2016, Varun Dua founded Acko General Insurance, India’s first fully digital insurance company. The primary objective of Acko is to eliminate traditional insurance intermediaries and provide direct and seamless insurance services to customers.

Key Features of Acko:

Digital-Only Model: All processes, from purchasing policies to filing claims, are conducted online.

Low Operational Costs: By removing the need for intermediaries, operational expenses are minimized.

Customized Products: Policies are tailored to meet individual customer needs.

Partnerships: Collaborations with major companies like Amazon, Ola, and Zomato.

Achievements
Acko has been awarded the Golden Peacock Award and the FICCI Insurance Award for its innovative approach and customer-focused services.

The company has served over 45 million customers to date.

Raised over $458 million in funding through multiple rounds.

Secured support from global investors like Amazon and Binny Bansal.

Personal Life Varun Dua married Sapna Rana in 2012, and her unwavering support has been instrumental in his success. The couple resides in Mumbai, where Varun enjoys spending quality time with his family. Apart from his professional commitments, he is an avid reader and constantly seeks new learning opportunities.

Vision and Philosophy
Varun firmly believes in the power of technology to transform traditional industries. His focus remains on identifying customer pain points and providing innovative solutions. According to him, innovation and perseverance are the most crucial traits of any entrepreneur.

Contribution to Society
Varun Dua is not only a successful businessman but also a role model for the youth. His message to aspiring entrepreneurs is clear: "If you have the courage to take risks and the passion to innovate, success will follow."
Varun Dua’s journey proves that with a clear vision and relentless effort, challenges can be turned into opportunities. His success is not confined to the insurance industry but serves as an inspiration for all aspiring entrepreneurs. His story is a milestone in the history of Indian entrepreneurship and a testament to the potential of innovation and dedication.

Last Update: 11-01-2025