Acko Technology, which operates online insurance portal Acko General Insurance, has filed a cybercrime case against two of its former employees. According to Economic Times, Acko Technology has alleged these employees of stealing confidential information pertaining to their company and used the same for setting up a competing business. The complaint has been filed with the Bengaluru police station.
The Cybercrime unit of the Bengaluru police station filed the FIR on May 8 under section of 66 and 72 of Information technology act and various other sections under the Indian Penal Code (IPC).
The FIR, which was accessed by ET, claims that one of the accused (former Vice President) stole confidential information from his office laptop and thereafter erased the confidential information from the operating system to cover up his alleged illegal act. The FIR further claims that this malicious act has caused financial damage of INR 20 crore.
The company formed by Acko’s two former employees is known as ‘Onsurity.’ The company, which is a direct competitor to Acko and founded in February, had just raised a seed funding in March this year.
Techpluto accessed Onsurity’s official website and found that the company mainly deals with health insurance. Under the FAQ section Onsurity defines itself as “a fin-tech platform where we provide wellness memberships to our clients and their team members. The wellness membership comes with an optional group Health Insurance where Onsurity acts as a Group Administrator. Onsurity is neither an insurance company nor a broker.”
ET had contacted one of the co-accused who refuted the charges as completely baseless and said that this was a blatant attempt to harass and malign them.
Acko Insurance, on the other hand, has been recently in thick actions on all fronts. The Bengaluru based company raised $36 Mn from Binny Bansal and Ascent Capital in November 2019. The company also acquihired car retailing platform VLer Technology in March last year.
