SynopsisThe appointment comes at a time when Acko is preparing for an initial public offering(IPO). In April, ET reported that the Bengaluru-based company had confidentially filed draft papers for an IPO, which is expected to raise around $250 million.AgenciesNew-age insurance company Acko has appointed Apoorv Kalra, former chief product officer of Junglee Games, to head its auto insurance business as part of a leadership revamp.The appointment comes at a time when Acko is preparing for an initial public offering(IPO). In April, ET reported that the Bengaluru-based company had confidentially filed draft papers for an IPO, which is expected to raise around $250 million. The offering could value the insurer between $2 billion and $2.5 billion, significantly higher than its last known valuation of about $1.4 billion.Kalra is among four senior executives joining the company. It has also hired Kunal Kapur, who previously worked at Meta, to lead the health insurance business.Vivek Sharma, founder of Fixcraft, has been appointed to oversee the Acko Drive ecosystem, which includes car buying and vehicle servicing operations. Neha Gupta, formerly with Zepto, has joined to lead customer experience across the company."We are excited about the leaders we're bringing in. They bring the kind of judgment and operating depth that directly changes what customers experience," Satheesh KV, chief people officer at Acko, said in a statement. Founded by Varun Dua, Acko received its insurance licence in 2017 and started operations the following year. The company has raised more than $583 million from investors, including General Atlantic, Multiples Private Equity, Accel, Elevation Capital and Canada Pension Plan Investment Board.In FY26, Acko underwrote motor insurance premiums worth Rs 1,186 crore and health insurance premiums worth Rs 1,235 crore, highlighting the growing contribution of its health business alongside its core motor insurance segment.For FY25, the company reported revenue of Rs 2,887 crore and a net loss of Rs 424 crore, according to filings with the ministry of corporate affairs. The loss narrowed from Rs 670 crore in FY24, indicating continued progress towards profitability. ...moreElevate your knowledge and leadership skills at a cost cheaper than your daily tea.Subscribe Now