Shark Tank is one of the most-watched shows in India. Now, the makers are ready to air the third season of Shark Tank India. Everyone in the production team is trying hard to make this season bigger and better than the previous ones. Shark Tank India Season 3 will be aired on Sony Liv. One of the biggest announcements made by the officials is the entry of the new shark into the team. Along with 5 other new sharks, the team is happy to invite Varun Dua as the new Shark Tank Judge.
Varun Dua is the founder and CEO of Acko, which is one of the leading private-sector general insurance companies in India. The announcement created positive excitement for the viewers. Readers who know little about Varun Dua Shark Tank Judge should read the article prepared below.
Varun Dua Shark Tank Judge Biography
Varun Dua is 38 years old and the founder and CEO of Acko Insurance Company. He is the owner of Cover Fox as well. Varun has graduated from the University of Mumbai. Later on, he went on to complete a master’s program at Mudra Institute of Communications, which is located in Ahmedabad, India.
His father’s name is Chander Mohan Dua. He is Indian by nationality. Varun Dua created his name in the Indian business market data early and is still going higher. His company is also doing well in the online and offline market. In the following section, we are going focus on the Varun Dua Shark Tank Judge, Biography Net Worth, Career, and others.
Varun Dua Shark Tank Judge Biography: Highlights
|Co-founder and Chief Executive Officer
|Name of the Company
|Acko and Coverfox & Glitterbug Technologies
|Father Name: Chander Mohan Dua
|Trainee at Leo Burnett Advertising, Marketing manager at Tata AIG Life Insurance and Franklin Templeton Investments
Varun Dua Career
He has more than ten years of experience in the field of insurance. He was in charge of marketing analytical for direct business accession and technology for effective customer service. After graduation, Varun commenced his career as a trainee at Leo Burnett Advertising. After that, he also worked as a marketing manager for a company named Tata AIG Life Insurance and Franklin Templeton Investments. Varun Dua wanted to commence his venture in India’s business market.
One of the main motivations he got to start the Acko company was the complete knowledge of available opportunities in the WWW, i.e., the World Wide Web (Internet), to provide effective ways of selling insurance products. Less, hassle-free paperwork with effective results. Before the launch of Acko in 2016, Varun Dua succeeded in launching one of the biggest online insurance investors. Considering his previous records, he managed to raise around $30 million from investors for the Acko project.
Varun Dua Shark Tank Judge Net Worth
With the help of his knowledge and skills, Varun Dua managed to raise 30 Million Dollars for Acko before it was even launched. It is obvious that Varun Dua has a plan and confidence behind his product, and he was not wrong. Considering the income from Acko company only, his net worth is estimated to be around 1 Billion Dollars. Please note that the net worth estimated in this section is an estimate which has been calculated from Acko only. The net worth mentioned here does not include the income received from other sources. Please note that Varun’s actual net worth can be different from the one mentioned here.
Varun Dua in Shark Tank India Season 3
Varun Dua is ready to join the panel of sharks of Shar Tank India. He will be hosting the show along with other sharks i.e., Aman Gupta ( CMO and cofounder of boAt), Amit Jain (CarDekho Group, InsuranceDekho.com), Anupam Mittal (Shaadi.com), Namita Thapar (Emcure Pharmaceuticals LTD), Ritesh Agarwal (OYO Rooms), Deepinder Goyal (Zomato), Azhar Iqubal (Inshorts) and Radhika Gupta (Edelweiss Mutual Fund). The Shark Tank India Season 3 will be hosted on Sony Liv. Varun Dua, along with other sharks, is going to make investments in unique and interesting products offered by the participants.
Varun Dua- Acko
As per the website, the overall motto of Acko is “Insurance made easy: Zero commission. Zero paperwork“. To make Acko more interesting and eye-catching, the company started the campaign with the phrase “Full Paisa Wasool“. This means that the insurance provides complete value. Acko has removed the retail costs which were the factors on which the competing insurance companies were relying. Acko has been in the market for a long time. Amazon acquired majority stakes in the company. However, Acko is still an independent company.
Frequently Asked Questions
What challenges were faced by Varun Dua in the Insurance sector?
According to Dua, lack of trust was one of the biggest challenges, creating many obstacles at the beginning. The reason behind it was the complexities of products, the buying process and the claiming process. Consumers always find the insurance claim procedure one of the lengthiest and most time-consuming. Varuns wanted to improve the experience of consumers with Acko.
Have Varun Dua sold Acko to Amazon?
No, he has not sold Acko to Amazon. However, most of the investment in Acko has been made by Amazon since 2018. Acko is still an independent company with its board of directors and management team. Varun Dua is still the CEO of Acko.