About Us
ACKO is India’s first and only fully-digital Insurtech (product) company to have taken insurance by storm. You might have seen our cool ads or are already a customer and we hope you have noticed how we are rewriting the rules of the insurance game constantly and persistently.Based out of Bangalore, we are solving for the Indian market. But we are a part of a global wave of insurtech startups such as ZhongAn in China , Oscar, Lemonade, Metromile in the US, that are known to succeed owing to their business models and technology.We are a unicorn backed by a slate of marquee investors like Binny Bansal, Amazon, Ascent capital, Accel, SAIF, Catamaran, General Atlantic and Multiples. In only four years since our inception and operations, our products have reached ~75M unique users. We have partnered with some of the biggest names of the digital ecosystem such as Amazon, Ola, RedBus, Oyo, Lendingkart, ZestMoney, GOMMT group etc.At ACKO, job roles are focused at impact and we’re here to transform the way the industry operates. Innovation drives us and our products, and we are poised to disrupt insurance, powered by our pioneering products. We have changed the landscape of this age old sector in a growing economy like India and have miles to go from here.After having crossed the $1B valuation mark, our eyes set on even bigger milestones. If you think we’re just about growth and numbers, employee wellbeing lies at the core of all our programs and policies. We are a regular ‘Great Place to Work’ winner and consistently feature on Linkedin’s list of top startups. Currently 1000 strong, we are hiring across all functions.
Primary Responsibilities
As the R2R lead for an insurance company, the role involves overseeing the entire financial closing and reporting lifecycle with a strong focus on accuracy, timeliness, and compliance with applicable standards.
Key Responsibilities
- Premium Recognition Ensure timely and accurate recognition of premium income in compliance with accounting standards and internal policies.
- Commission & Reinsurance Payout Processing Oversee end-to-end processing and accounting for commissions and reinsurance payouts, including reconciliations and coordination with stakeholders.
- Financial Reporting (IGAAP/Ind AS)
- Prepare monthly and annual financial statements as per Indian GAAP and Ind AS.
- Draft accompanying notes to accounts and disclosures for audit and compliance.
- Trial Balance & Reconciliation Oversight
- Review and finalize Trial Balances.
- Conduct Bank Reconciliation Statements (BRS) and ensure resolution of unreconciled items.
- Monitoring APD Balances Regularly track and analyze Advance Premium Deposit (APD) balances for accurate financial presentation.
- Tech Collaboration (Finako & Other Tools)
- Liaise with the Tech team to generate reports such as Unexpired Risk Reserve (URR) and Advance Premium Reports from Finako.
- Coordinate for data automation and system integration, particularly Finako to Oracle.
- Premium Audit Management Lead premium audits, coordinate with internal/external auditors, and implement recommendations.
- Automation & Systems Integration Spearhead automation initiatives including the integration of Finako with Oracle ERP to enhance operational efficiency and accuracy.