Brand Saga: ACKO's marketing tale of humour in a fear-driven insurance industry

The insurance industry in India had long been associated with tedious paperwork, confusing policies, and a lack of transparency. In an era where digital transformation was reshaping industries, someone saw an opportunity to redefine how insurance was bought and experienced.

Raised in Mumbai, Varun Dua pursued his bachelor’s degree at the University of Mumbai before heading to MICA, Ahmedabad, for his Masters. His early career saw him in the advertising world, starting as a trainee at Leo Burnett. But it was in the financial services industry, working at TATA AIG Life Insurance and Franklin Templeton Investments as a marketing manager, that Dua had his real awakening.

In those years, he observed that the cumbersome paperwork, complex procedures, and high premiums driven by middlemen were plaguing the insurance sector. Insurance, at its core, was meant to provide security and peace of mind, but the user experience was anything but smooth. 

Taking a break from the corporate grind, Dua began exploring solutions. It was during this phase that he met Devendra Rane, a developer from IIT Bombay. Together, they embarked on a new venture, Coverfox, an aggregator platform that allowed users to compare and buy insurance policies online. While Coverfox made policy selection easier, it didn’t fundamentally change how insurance was sold and consumed.

Reflecting on the experience, Dua realised that an aggregator model couldn’t solve the deep-rooted problems of the industry. He needed to go further, to rethink insurance from the ground up. 

In 2016, he partnered with Ruchi Deepak, a legal and financial expert with deep industry knowledge, to create ACKO General Insurance—a digital-only platform with the aim to offer seamless, transparent, and affordable insurance directly to customers, cutting out intermediaries and unnecessary paperwork.

Their vision attracted investors who believed in their mission. By 2018, ACKO had raised $42 million from investors, including Amazon, Accel Partners, SAIF Partners, and Catamaran Ventures. The momentum continued, and in October 2021, ACKO secured $255 million in funding, making it India’s 34th unicorn.

With a strong foundation and significant backing, ACKO now had the freedom to experiment with its business model and also with its brand positioning. Despite the industry's long-standing reliance on fear-driven messaging, ACKO saw an opportunity to challenge this norm and redefine how insurance was perceived. Instead of amplifying anxiety, they sought to bring a fresh approach. And what better way to do that than by inducing humor into an industry notorious for its seriousness?

Injecting humour into a traditionally fear-driven industry

The insurance sector has historically relied on fear-based messaging to drive sales, often depicting worst-case scenarios to emphasise the necessity of coverage. ACKO, however, has taken a divergent path by infusing humor into its marketing communications. This strategy aims to make insurance more approachable and less intimidating, thereby appealing to a broader audience.

A common thread in ACKO’s marketing campaigns has been using well-known faces and putting them in uncanny scenarios, generating humor through quirky narratives. The intention behind this seems to be to acquaint the audience with the concept of digital insurance through familiar faces.   

The ‘Munna-Circuit’ campaign for ACKO’s health insurance exemplifies this perfectly. By featuring the iconic characters portrayed by Sanjay Dutt and Arshad Warsi, ACKO tapped into popular culture to make insurance discussions more relatable and engaging. This approach not only captures attention but also demystifies insurance concepts through humor and familiarity.

ACKO’s efforts to incorporate humour are also visible in its campaigns with Saif Ali Khan and Sara Ali Khan. ACKO collaborated with the father-daughter duo to challenge traditional insurance purchasing habits. The campaigns highlight the contrast between Gen X and millennial mindsets, promoting the ease and benefits of ACKO's digital platform. This strategy aims to bridge generational gaps and appeal to a broad audience by leveraging familiar and trusted public figures.

ACKO’s IPL marketing strategy

Beyond humor, ACKO also recognised the power of sports marketing to deepen consumer engagement. The brand strategically leveraged one of India's biggest sporting events, the Indian Premier League (IPL). Acknowledging the high impact media property's unparalleled reach, ACKO has strategically aligned itself with the tournament to amplify brand awareness and connect with millions of cricket fans. 

In 2020, ACKO became the official insurance partner of the Delhi Capitals, marking its initial foray into IPL collaborations. Expanding its presence, ACKO partnered with the Sunrisers Hyderabad and Mumbai Indians in 2021, further solidifying its association with the league. This year, ACKO has sponsorship agreements with three IPL teams: Delhi Capitals, Gujarat Titans, and Kolkata Knight Riders.

Through team sponsorships, high-impact ad campaigns, and digital activations, ACKO aims to position itself as a dynamic and engaging insurance provider.

The brand launched ‘Insurance Ke Tede Games’ a series of campaigns during the 2020 IPL season, featuring actor Jaaved Jaaferi, known for his humorous commentary. The ads drew parallels between the complexities of traditional insurance and the quirky challenges of game shows, positioning ACKO as a straightforward alternative.

The brand also introduced ‘#ACKOCatchTheLogo’ contest in partnership with the Delhi Capitals. This interactive campaign encouraged fans to spot the ACKO logo in various locations during Delhi Capitals' matches, such as on player helmets, caps, and perimeter boards. Participants were invited to submit their findings on ACKO's website, with opportunities to win team merchandise and exclusive virtual meet-and-greet sessions with Delhi Capitals players. 

In 2021, ACKO Insurance launched a dynamic marketing campaign featuring Bollywood actor Arshad Warsi alongside prominent Mumbai Indians cricketers—Rohit Sharma, Jasprit Bumrah, and Krunal Pandya. This initiative aimed to promote ACKO's zero-commission car insurance, highlighting the cost benefits of purchasing insurance directly through the ACKO app. The campaign's tagline, "ACKO app check kar lo," served as a direct call-to-action, encouraging consumers to explore the app for affordable insurance options. 

The advertisements depicted humorous interactions between Warsi and the Mumbai Indians players, emphasising the ease and savings associated with ACKO's offerings.

ACKO continued its humorous advertising approach with the ‘Don't Be Like Murthy’ series during IPL 2022. These ads portrayed the character Murthy in various scenarios where he missed out on the advantages of ACKO's offerings, reinforcing the message of hassle-free insurance with potential savings of up to ₹50,000. 

In 2024, the brand launched the ‘Atko Mat, Get ACKO’ campaign to encourage consumers to opt for cost-effective insurance. 

One of the advertisements featured cricketer Shubman Gill. In this ad, Gill is seen celebrating his new car purchase but forgets to get insurance, highlighting how customers can save money by choosing ACKO for their insurance needs.

By leveraging team sponsorships, interactive contests, and humor-driven ad campaigns featuring popular cricketers and Bollywood celebrities, the brand aims to blend entertainment with insurance, making an otherwise complex product engaging and relatable for a mass audience. 

The Shark Tank effect

While ACKO’s marketing initiatives have been instrumental in its brand journey, its visibility received another boost when Varun Dua took on the new role as a Shark. Dua joined the panel of investors on Shark Tank India during its third season in 2024. This move not only highlighted his entrepreneurial acumen but also provided a platform to enhance ACKO's brand visibility.

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Participating in a popular television show like Shark Tank India offered ACKO significant exposure to a diverse audience. While specific metrics quantifying the direct impact on ACKO's customer acquisition or sales are not publicly available, such media presence typically bolsters brand recognition and trust among potential customers.

In addition to Dua's role as a shark, ACKO has been a co-presenting sponsor of Shark Tank India since its inception. His involvement with Shark Tank India, both as an investor and through ACKO's sponsorship, has likely contributed to the brand image.

Leveraging social media to simplify insurance

Apart from television and sports sponsorships, ACKO has effectively leveraged digital engagement, using social media to make insurance more accessible, engaging, and even entertaining for consumers. Through a mix of humor, influencer collaborations, and clear, concise messaging, ACKO transforms complex insurance concepts into bite-sized, easily digestible content.

With a youthful and witty digital persona, ACKO navigates social media like a young adult finding their way through the digital landscape. The brand maintains a solid presence across platforms, with 41K followers on Instagram, 41.4K on X (formerly Twitter), and 41.2K on YouTube. To keep engagement high, ACKO consistently shares a mix of content—from memes and creatives to reels and videos.

For its travel insurance promotions, ACKO partners with travel influencers who integrate the brand into their vlogs, offering travel tips alongside its insurance solutions. 

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The brand also brings in clarity to demystify insurance. A key example of this was its campaign featuring actor R. Madhavan as brand ambassador. In an interview-style video series titled What’s the Catch?, Madhavan posed fundamental insurance questions to ACKO’s founder, Varun Dua.