Insurtech startup Acko acquires digital health platform Parentlane

Insurtech startup ACKO today said it has acquired digital health platform Parentlane for an undisclosed sum.

Founded in 2015 by Vijay Anand and Neeraj Kumar Gupta, Parentlane empowers young millennial parents with proactive healthcare solutions from preconception to the most critical early childhood development phase.

The acquisition is part of ACKO's goal towards building a digital healthcare ecosystem focused on solving core problems in healthcare access for customers. The platform, combined with ACKO's core insurance offering, will deliver personalised content and services to enable better healthcare choices, informed decisions, and improved outcomes.

ACKO wants to be every customer's friendly companion during all stages of their healthcare journey. For young millennial parents, who comprise most of ACKO's customer segment, maternal care is the first in-depth hospitalisation or healthcare experience.

With this acquisition, The insurtech startup will improve its ability to not only provide continuum care for maternal care but also aims to develop specialised care programmes for many other conditions.

Varun Dua, Founder of ACKO, said, "At ACKO, we are constantly working towards strengthening the customer value proposition, and the Parentlane acquisition is a step in that direction. As both ACKO and Parentlane seek to address the problems in healthcare, there is total alignment in our respective philosophies."

"Parentlane has built a successful engagement-led technology platform for maternal health, which we believe will play a significant role in helping us provide comprehensive healthcare service to our customers and expand beyond the core insurance offerings by partnering with the healthcare ecosystem," said Varun Dua.

Commenting on the development, Vijay Anand, Co-Founder and CEO of Parentlane, said, "Parentlane has been a gratifying experience for us as we offered comprehensive care to young couples during one of their most exciting and important life milestones. During this journey, we discovered the significant value that insurance brings to customers and how it could potentially become the primary gateway for consumers to access healthcare services and improve their health outcomes. I met Varun, and the ACKO leadership team felt a sense of alignment with their vision, and we are now excited to find a new home at ACKO to make a larger impact by joining forces."

At present, Parentlane claims to serve 2 million users yearly on the platform with personalized content and delivers healthcare services by partnering with many leading hospitals across the country.

In addition, the company has built a rich repository of 10,000+ content pieces in multiple formats, which the platform leverages to personalise information based on customer lifecycle stages and various health conditions.

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