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FAQ

Insurance brokers serve as intermediaries working exclusively for clients rather than insurance companies. Acting as Knowledge Processing Organizations, they handle clients' insurance portfolios and deliver comprehensive insurance-based risk management solutions tailored to their needs.

1) Pre-Sales and Post-Sales Support: Assisting clients throughout the insurance process, from policy selection to ongoing management.
2) Risk Assessment and Premium Determination: Analyzing client risks to determine suitable coverage and premium amounts.
3) Risk Improvement and Loss Prevention: Advising on strategies to reduce risks and minimize potential losses.
4) Premium Collection: Managing the collection of insurance premiums on behalf of clients.
5) Claims Assistance: Providing support and guidance to clients during the claims process to ensure smooth settlements.

Yes, you can shift your policies to Ideal Insurance at the time of your policy’s annual renewal. You will continue to enjoy the same or better benefits at lower cost.

Detariffing refers to the removal of fixed premium rates and standardized policy terms that were previously set by the Tariff Advisory Committee. Until January 2007, these regulations limited brokers' ability to offer lower rates, a wider selection of products, and flexibility in choosing insurers for their clients.
With the removal of pricing controls, premiums are now determined based on the specific risks being insured. In this new framework, brokers play a crucial role by assessing your risks, obtaining competitive quotes from multiple insurance companies, negotiating the best deals, and managing claims comprehensively on your behalf.

Insurance brokers can collaborate with all life and non-life insurance companies operating in the country. This broad access allows them to offer clients the most competitive premiums and a wide range of policy options.

Yes, you can shift your policies to Ideal Insurance at the time of your policy’s annual renewal. You will continue to enjoy the same or better benefits at lower cost.

The Insurance Regulatory and Development Authority (IRDA) is a governing body established to safeguard the interests of policyholders. It is responsible for regulating, promoting, and ensuring the orderly growth of the insurance industry, along with addressing any related or incidental matters.

Insurance brokers can collaborate with all life and non-life insurance companies operating in the country. This broad access allows them to offer clients the most competitive premiums and a wide range of policy options.

An insurance claim is a request for payment made by the insured or a claimant to the insurer upon the occurrence of an event covered under the insurance policy. It is the insurer's obligation to compensate as agreed in the contract, in exchange for the premiums paid by the insured.