Multipl, India’s first and only PE-backed Invest for Spending platform, has partnered with Acko, a tech-first insurance firm, to offer integrated insurance payment options to its customers.
The partnership is a step to provide car owners with an option to invest and renew their policy with an extra benefit of returns. The association will see a seamless integration of the features of ACKO in the Multipl platform which will allow individuals to create a goal for their annual insurance premium as a part of its save and spend smartly business model. Individuals can then save in small equal amounts from a duration of three to 12 months to achieve the goal. This will enable individuals to relook at their policy buying and renewing behaviour.
Multipl also provides individuals the benefit of being able to invest their savings in curated direct mutual funds based on the risk profile on its platform. This will fetch returns on the invested amount and upon maturity, individuals can make the premium payment on the ACKO interface which is integrated into the Multipl app.
“Insurance premium is a big recurring expenditure for car owners, especially if they have multiple cars. With our integrated ACKO insurance option, car owners can not only plan for insurance payment but also get rewarded for their savings and make instant payments,” said Paddy Raghavan, Co-founder of Multipl.