Money & Banking

Acko invests $1.2 million in Pitstop

New Delhi | Updated on September 10, 2020

Acko, an InsurTech, has made a strategic investment of $1.2 million in Pitstop, a full-stack car service and repair platform.

This strategic investment will bolster Acko’s engagement with customers throughout their car ownership lifecycle. The investment will accelerate Acko’s auto claim servicing capability and its promise of three-day doorstep pick-up, repair and delivery.

Subsequently, Acko will also roll out Pitstop’s value-added services such as doorstep complete car servicing, major and minor repairs and cleaning and disinfection and roadside assistance to its customers to offer more value and help them to easily manage their car ownership journey.

The partnership will currently be operational in five cities – Bengaluru, Mumbai, Delhi, Hyderabad and Pune before a national roll out to 20-plus cities to deliver a standardised experience to all Acko customers.

As part of this agreement, all of Pitstop’s tech-enabled garages will be fully integrated with Acko’s claim settlement platform to offer automated and transparent claims assessment and seamless disbursal.

The digitised check in, Pitstop’s car health monitoring tech device and the seamless integration between Pitstop (the garage) and Acko (the insurer), will positively impact the turnaround time for the estimate, approval and the claims settlement, delivering an exceptional customer experience.

“As the need for contactless transactions, quality service and transparency in insurance claims continues to grow, our investment will help accelerate business value and growth. We are delighted to partner with Pitstop and excited about the benefits our customers will realise through this agreement,” said Ruchi Deepak, Co-Founder, Acko.

Launched in 2015, Pitstop is disrupting the automotive aftermarket industry with a complete solution offering of car service, repair and spares technology platform that delivers convenient, transparent and quality car service and repair experience.

Operating in 9 cities using a fleet of doorstep vans, qualified mechanics and a network of 300-plus certified garages, Pitstop has built a technology platform that integrates the entire car ownership experience.

Published on September 10, 2020

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