Acko's new inclusive HR policy extends benefits to partners of LGBTIQ employees

Acko's new inclusive HR policy extends benefits to partners of LGBTIQ employees

February 03, 2020

India's first and fastest-growing InsurTech company, Acko announced today that it has extended its group medical insurance cover to include the partners of their LGBTIQ+ community to declare their same-sex live in partners to avail medical insurance benefits that would cover hospitalization, Health Returns and Health Assessment. This new D&I initiative is a step towards achieving equality in the workplace and acknowledging the evolving relationship dynamics in the country.
Acko joins just a handful of Indian startups who are taking measures to create a diverse and inclusive workplace for everyone. "We wish to embrace our DNA of being a new age digital company across all aspects and be a leading voice of change and accountability. Discrimination based on sexual orientation and gender identity not only violates universal basic human rights, it also adversely impacts the long-term economic prospects of individuals and businesses. We are committed to driving genuine diversity and inclusion in the workplace where everyone feels included and respected,"said Ruchi Deepak, Managing Director of Acko.
Acko has also created a gender neutral POSH(Prevention of Sexual Harassment) policy that extends coverage to all LGBTIQ+ employees and not only cis-gendered men and women.
Acko, is consciously working towards developing the best HR practices and creating a strong work culture that encourages employees to give their best for the company. Actively hiring, the company is an equal opportunity employer where gender, sexual orientation, ethnicity do not matter. Acko has received recognition as an employer of choice, having secured a spot in "LinkedIn top startups-Hottest Indian Companies to work for Now" two years in a row (2018, 2019) and has also been featured in Business Today's coolest startups list.

Ponzi scheme

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PONZI SCHEME.

January 31, 2020

Hello Everyone! In recent times we have listened many fraud cases and one of them is Ponzi schemes.   

Let’s understand what Ponzi scheme is and how people get into such trap. Ponzi schemes are one of the most famous, and arguably first, scam. In this, Investors are promised high returns and, at first, it appears to be successful and profitable. This attracts new investors. The money from the new investors is then used to pay off the original investors and the cycle continues.

The company or investment never makes a real profit. It just redistributes the money and claims it’s profitable. So, as long as there is a stream of new investors, it at least appears as if everything is going well. But, eventually, new investors dry up and the scheme collapses, generally just leaving the person at the top with all the money.
A Ponzi scheme is always a scam because it’s built on false returns on your investment. The problem is, it’s very hard to know it’s a Ponzi scheme until it actually collapses.

What is the origin of the Ponzi scheme?

Nobody is exactly sure what the first Ponzi scheme was as it essentially involves taking investors’ money and running.There are newspaper reports of such scams in America during the 1880s and similar frauds were mentioned in books by Charles Dickens in the 1850s. But, it was made infamous by a man called Charles Ponzi.

Charles Ponzi was born in Lugo, Italy, in 1882 and immigrated to America in 1903.After several years in the US and Canada, including a stint in prison for forging a cheque, Ponzi stumbled across a loophole in the cost of postage stamps that would cement his name in the history books.The price of postage stamps varied widely across the world. However, Ponzi discovered you could purchase what was known as an international reply coupon for a lot less.

These could then be exchanged for much more valuable American postage stamps.Technically speaking, this was not illegal, but it required money to get the idea off the ground and Ponzi went out looking for investors.What Ponzi did, which made this illegal, was take money from new investors to pay existing investors.  (Reference – Times of India)