CRED partners with ACKO to offer enhanced motor insurance for members

Fintech majors CRED and ACKO General Insurance have joined hands to offer motor insurance for CRED members through a dynamic pricing system, wherein members with higher credit scores are incentivised with lower premiums.

 

CRED members with credit scores above 750 will receive motor insurance at reduced premiums. Members can purchase, renew, and manage motor insurance from ACKO on CRED Garage, with additional benefits like pick-up and drop-off facilities for vehicles involved in claims.

 

CRED Garage, launched a year ago, currently supports 7 million vehicles owned by 4.4 million members.

 

According to CRED’s press release, “The platform simplifies tasks such as managing multiple vehicles, paying traffic challans, renewing pollution certificates, recharging FASTag, and securely storing vehicle documents. With 37 per cent of users managing more than one vehicle and a third of cars being under three years old, CRED Garage caters to affluent users seeking convenience, transparency, and efficiency.”

 

Commenting on the collaboration, Varun Dua, founder of ACKO, said, "We are delighted to offer a rewarding experience to financially prudent customers, encouraging better financial planning. We are thrilled to collaborate with CRED to offer a compelling incentive in the form of reduced motor insurance premiums to those who have demonstrated responsible financial behaviour. ACKO has always focused on making insurance more relevant and transparent for consumers, and with this collaboration, we aim to reinforce the link between trustworthiness and tangible rewards.”

 

With motor insurance policies making up 93 per cent of the insurance value sold on CRED, this highlights a shift towards better protection and peace of mind for financially responsible vehicle owners. Members can renew their insurance directly on CRED Garage, initiate claims digitally, and rely on CRED Garage's concierge service to manage the process.

 

Kunal Shah, founder of CRED, said, “Trustworthy behaviour needs to be encouraged, celebrated, and rewarded. Our partnership with ACKO does just this, offering members an insurance experience that recognises their financial responsibility. By aligning premiums with credit score and driving behaviour, we’re excited to introduce a model that rewards good habits directly and meaningfully.”