SecureNow is one of the top insurance brokers in India. The firm is dedicated to protect small and medium enterprises by distributing quick, easy and affordable pure-risk insurances. At SecureNow, we are passionate about offering fair insurance options to policyholders, who generally lack access to quality insurances on their own. We believe in a fair, sustainable future – one where everyone thrives under the protective cover of all risk insurance. We aim to achieve this in a sustainable manner by effective use of technology. It is a full-service insurance broking firm that provides excellent claims support to small companies in addition to placing quality insurances. The company’s success can be gauged by the fact that it has over 30,000 clients and acquires new clients rapidly, primarily by word of mouth.
Kapil is our co-founder & CEO. He writes regularly in the media, specifically on matters that impact policyholders. He is a policyholder representative on the Policyholder Protection Board Subcommittee of a life insurer, is active in several industry associations, and is a Charter Member of TiE. Kapil’s book on insurance, Happily Insured, was published in October 2022 by Harper Collins.
Kapil was formerly the managing director of Prudential Financial’s life insurance company in India and a long-standing director of the Insurance Broking Association of India (IBAI). Still earlier, he has worked with Max New York Life, McKinsey & Company and Unilever.
Kapil has studied at IIM Ahmedabad and IIT Delhi.
Abhishek is our co-founder and Principal Officer of SecureNow Insurance Broker Pvt. Ltd. Abhishek leads the Digital channel, Technology, Product, Underwriting and Operations for the firm. He writes monthly columns for Moneycontrol, Mint and Outlook Money. He also answers reader queries on insurance in a weekly column for Mint. His interviews have featured in several personal finance TV shows including CNN News18, and CNBC Awaaz. Abhishek sits on the Center of Excellence committee for Entreprenurship at MDI Murshidabad, where he also serves as a guest faculty.
Established in 2011, SecureNow Insurance Brokers Pvt Ltd has made a name for itself in the list of top Insurance brokers in India. It is a tech-enabled company, playing a key role in bridging a vital gap by distributing pure-risk, commercial insurances. Besides providing fair insurance options to its customers, it excels in providing excellent claims support.
SecureNow has been recognized as a top-three Asian Broker in 2015, 2016 & 2020 by the Asia Insurance Review. It was also amongst the top three firms ranked by TechHR for its mobile app. SecureNow won the Claim Innovation Award in 2016 & 2017. It was the finalist for the Fintech Innovation Award (London) in 2015, finalist in the Economic Forum challenge in 2019 and recipient of the SKOCH Order of Merit Award in 2017, 2018 & 2019. Each of these awards were reviewed by respected jury from the industry.
IRDAI mandates that every insurance broker shall follow recognised standards of professional conduct and discharge their functions in the interest of the clients or policyholders. It shall display high standard in its conduct in matters relating to below areas:
The primary way an insurance broker makes money is from commissions and fees earned on policies sold to individuals and businesses. These commissions are typically a percentage of the policy's total annual premium. Most commissions are between 2% and 8% of the premiums, depending on guidelines issued by state regulatory.
An insurance broker generally earns a lump sum percentage against the first-year premium of a policy that they sell and then a smaller, but ongoing annual residual payments over the policy's life.
Some brokers also generate revenue by providing consultative and advisory services to their clients. In certain scenarios, transactional fees may be charged by insurance brokers. For example, insurance brokers can charge state regulated fees for initiating changes and helping clients file claims. However, the permitted fees must meet certain criteria, such as being reasonable and agreed upon by the client and broker.
Insurance can be confusing and complicated, but its importance to any business cannot be ruled out either. No matter how good you are at devising watertight strategies, running a business is hard. Businesses often face unplanned challenges.
Insuring a business without expertise of insurance broker can be complex as you have to research between sea of insurance options by yourself. An insurance broker work towards analysing your background and have skills to find a policy that best suits your needs for a reasonable price.
Some of the advantages of having an insurance broker:
of the year 2017 Top 3
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