Varun dua is an Indian fintech entrepreneur. He is the founder and CEO of digital insurance company Acko. He is also the co-founder and serves as CEO of Coverfox, one of India’s top online insurance aggregators. In 2024, he served as a judge in the third season of the business reality TV series Shark Tank India.
Wiki/Biography
Varun Dua was born in Delhi on Wednesday, February 25, 1981 (42 years old; as of 2024). His zodiac sign is Pisces. At the age of two, Varun moved with his family to Mumbai, Maharashtra. He pursued a degree in commerce from RAPodar College of Commerce and Economics, Mumbai, Maharashtra. After graduation, he took the CAT exam. Later, he pursued his Masters in Strategic Marketing and Communication from Mudra Institute of Communication, Ahmedabad, Gujarat.
Varun Dua’s childhood photos with brother Kartik
appearance
Height (approximately): 5′8″
Hair color: black
Eye color: black
family
Parents and siblings
Varun Dua’s father, Chander Mohan Dua, is a government employee and his mother, Rashmi Dua, is a school principal. He has a younger brother named Kartik Dua.
Varun Dua and his family
wife and children
Varun Dua married Sapna Rana in 2012. Sapna Rana is the Music Acquisition Supervisor at Radio Mirchi.
Varun Dua’s wedding photos
religion
Varun Dua follows Hinduism.
Profession
In 2002, after completing his formal education, Varun Dua started interning at the advertising agency Leo Burnett in Mumbai. According to him, he worked there for less than a year. While at Leo Burnett, he was working on an insurance-related project, and to get help, he contacted an employee at Tata AIG, who later offered him a job. In 2003, he started working as Marketing Manager with Tata AIG Life Insurance. He worked there for 4 years from 2003 to 2007. In January 2007, he started working as a marketing manager at Franklin Templeton Investments and resigned after one year. After investing in Franklin Templeton, he decided to put his career on hold. During this period, he met Devendra Rane, an IT engineer at IIT Bombay, with whom he came up with the idea of merging the insurance industry with IT. In 2010, he co-founded GlitterBug Technologies with Rane. In an interview, Varun Rane spoke about the idea of starting a company and said it was an industry he was familiar with and helped him build his company. He said,
We both saw a niche and thought let’s solve it together. Insurance companies are in trouble and the big software companies that serve them don’t really know what’s going on – that’s our perspective. We can do better. As it turns out, this is largely true. ”
In 2014, Varun Dua decided to transform his company into Coverfox, an online insurance brokerage. He serves as CEO of Coverfox. Varun Dua said that he solved the insurance industry’s traffic problems and purchasing problems through Coverfox, but he has not yet solved the pricing problem. By 2016, Varun was working on new ideas to solve the pricing problem, so he started working with new insurance companies and came up with the idea of making his own product because Coverfox was an online broker portal and a broker could not be both insurance company, he decided to start a new company called Acko. With the help of some investors from Coverfox, Varun secured $30 million in investment before Acko started operations in May 2017.
In October 2017, Dua obtained a license from Acko and launched its first product in February 2018. Acko started out in the auto insurance business but eventually moved into mobile insurance and partnered with OLA to provide health insurance to OLA passengers. In October 2021, Acko raised US$255 million in Series D funding, bringing the company’s overall value to US$1.1 billion, becoming the 34th Indian startup to become a unicorn company.
Facts/Trivia
- According to Varun, he wanted to be a newscaster and was inspired by Prannoy Roy.
- In January 2024, Varun Dua announced through an Instagram post that he would be serving as a judge in the third season of the business reality TV series Shark Tank India.
Varun Dua posts on Instagram about joining Shark Tank India Season 3 as judge
- Varun Dua is a dog lover who often shares pictures of his pet dogs on social media.
Varun Dua with dog
Categories: Biography
Source: HIS Education