Varun Dua is an Indian fintech entrepreneur. He is the founder and CEO of digital insurance company Eko. He also co-founded and CEO of CoverFox, one of India’s top online insurance aggregators. In 2024, he appeared as a judge on season 3 of the business reality television series Shark Tank India.
Contents
Wiki/Biography
Varun Dua was born on Wednesday, 25 February 1981 (age 42 years; as in 2024) in Delhi. His zodiac sign is Pisces. At the age of two, Varun moved with his family to Mumbai, Maharashtra. He earned a commerce degree from Rapodar College of Commerce and Economics, Mumbai, Maharashtra. After graduating, he appeared in the CAT examination. Later, she earned a master’s degree in Strategic Marketing and Communications from Mudra Institute of Communications, Ahmedabad, Gujarat.
Varun Dua’s childhood picture with brother Kartik
Physical Appearance
Height (Approx): 5′ 8″
Hair Color: Black
Eye colour: black
Family
parents and siblings
Varun Dua’s father, Chandra Mohan Dua, was a government employee, and his mother, Rashmi Dua, was a school principal. He has a younger brother named Kartik Dua.
Varun Dua with his family
wife and children
Varun Dua married Sapna Rana in 2012. Sapna Rana is the head of music acquisition at Radio Mirchi.
Varun Dua’s wedding photo
Religion
Varun Dua follows Hindu religion.
livelihood
In 2002, after completing his formal education, Varun Dua started working as a trainee at Leo Burnett Advertising in Mumbai. According to him, he worked there for less than a year. During his time at Leo Burnett, he worked on a project related to insurance and for help he reached out to an employee at Tata AIG, who later offered him a job. In 2003, he started working as a marketing manager at Tata AIG Life Insurance. He worked there for 4 years from 2003 to 2007. In January 2007, he began working as a marketing manager at Franklin Templeton Investments, working there for a year before leaving the job. After Franklin Templeton Investments, he decided to take a break from his career. During this time, he met IT engineer Devendra Rane of IIT Bombay and together with him he came up with the idea of merging the insurance sector with IT. In 2010, he co-founded Glitterbug Technologies with Rane. In an interview, Varun Rane talked about the idea of his company and said that it was an area he was familiar with and it helped him build his company. He said,
We both saw a place and thought let’s explore it together. Insurance companies were struggling, the big software companies that service insurance companies didn’t really know what was going on—that was our idea. And we can do a much better job at this. And this proved to be true to a large extent.”
In 2014, Varun Dua decided to transform his company into Coverfox, an online insurance broking firm. He served as the CEO of CoverFox. According to Varun Dua, they have resolved the traffic issue with Coverfox and the purchasing issue in the insurance sector, but the pricing issue is not resolved yet. By 2016, Varun was working towards a new idea to solve the pricing problem, so he started working with new insurance companies and came up with the idea of creating the product himself as Coverfox was an online broker portal. And since brokers could not also be insurers, he decided to start a new company called Aeko. With the help of some investors from Coverfox, Varun secured an investment of $30 million in May 2017, even before Ako started operations.
In October 2017, Dua received the license for Eko and launched its first product in February 2018. Acko started its operations with automobile insurance but eventually launched mobile insurance and launched health insurance for OLA passengers in partnership with OLA. In October 2021, Eko became the 34th Indian start-up to become a unicorn company after raising $255 million in a Series D round, increasing the company’s total valuation to $1.1 billion.
Facts/General Knowledge
- According to Varun, he wanted to become a newsreader and was inspired by Prannoy Roy.
- In January 2024, Varun Dua announced through an Instagram post that he would be appearing as a judge on season 3 of the business reality television series Shark Tank India.
Varun Dua’s Instagram post about joining Shark Tank India Season 3 as a judge
- Varun Dua is a dog lover and he often shares pictures of his pet dog on social media.
Varun Dua with dog
Categories: Biography
Source: vcmp.edu.vn