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Ever faced a problem with understanding policies? If yes, then you should get help from an insurance broker company. They are not just your best friend while buying insurance, but also guide you at every step of your insurance journey.
In Mumbai, there are a number of insurance brokers. But always remember that only a reliable insurance broker can help you. These companies are regulated by the Insurance Regulatory and Development Authority of India (IRDAI) and are required to be members of the Insurance Brokers Association of India (IBAI).
Here in this blog, we will discuss the top insurance brokers in Mumbai.
List of Insurance Brokers in Mumbai
Here is the list of the top insurance brokers in Mumbai:
| Name of the Broker | Founded in | Headquarters |
|---|---|---|
| Square Insurance Broker Private Limited | 2017 | Jaipur, Rajasthan |
| Marsh India Insurance Brokers Private Limited | 2003 | Mumbai, Maharashtra |
| Akshar Group | 1972 | Vadodara, Gujarat |
| Shift Risk Insurance Brokers Limited | 2008 | Mumbai |
| CoverMitra Insurance Broking Pvt Ltd | 2016 | Mumbai |
| Policy Era Insurance Broking Pvt. Ltd. | 2023 | Mumbai |
1 Square Insurance Broker Private Limited
Square Insurance Broker Private Limited is a fully licensed direct insurance broker company that offers a variety of insurance products to its customers. This company was incorporated in 2017 in Jaipur, Rajasthan. And also having register branch at Mumabi - (Square Insurance - Mumbai Office Address)
Starting from health insurance to corporate insurance, you can get financial protection against any kind of risk. With a 24/7 customer support service, this company has already been serving over 10 lakh customers to find the right insurance plan.
Key benefits of choosing Square Insurance as your broker are:
- You can get a wide range of insurance options.
- It offers quick claim support.
- It offers easy comparison and selection of the plan.
- You get reminders for premium due dates and renewal deadlines.
- Digital assistance is also provided.
2 Marsh India Insurance Brokers Private Limited
Marsh is a leading insurance broking and risk management firm in India. It has been licensed by IRDAI since 2003. With 18 offices and 1300+ experts, it offers innovative and cost-effective insurance solutions. It has a strength of around 5000 employees working with it.
Here are some key benefits of Marsh India:
- It offers customized insurance and risk management plans.
- It provides services to SMEs, large corporations, and individual clients.
- With 1300+ experts, it serves customers in the best possible way.
- It provides faster resolutions for applications or claims.
3 Akshar Group Insurance Broker
Akshar is one of the leading insurance brokers in India that offers comprehensive insurance solutions. With advanced technology, Akshar helps clients manage risks effectively while unlocking growth opportunities. The company is certified and operates nationwide.
Here are the key features of Akshar Insurance Group:
- It offers smart investment planning.
- It deals in life and a variety of general insurance.
- It offers quick claim settlement to customers.
- It also offers SME insurance, including director and cyber security insurance.
- You can protect your shop and company with the Akshar group.
4 Shift Risk Insurance Brokers Limited
Shift Risk Insurance Brokers Limited, formerly Opal Insurance Brokers, has served individuals and companies for over a decade. It started as a corporate agent in 2008 and became IRDAI-licensed in 2016. ShiftRisk helps clients protect against unforeseen losses, enabling a worry-free personal and professional life.
Here are the key features of Shift Risk Broker Limited:
- It provides services to both individuals and companies.
- This company has more than 10 years of experience.
- It also deals with health, bike, car, term, travel, corporate, and group insurance.
- They help you to get the best plan that suits your needs.
5 CoverMitra Insurance Broking Pvt Ltd
Covermitra is one of the top insurance brokers in Mumbai. It provides affordable insurance solutions, partners with 50+ insurers, and offers end-to-end claim support. With 26,000+ happy clients and 1,000+ claims settled, they ensure the best deals and a smooth insurance experience.
Key features of CoverMitra Insurance Broking Pvt Ltd:
- They have dealt with 10,000+ happy customers.
- With 50+ insurers, you can easily compare plans and buy a suitable one.
- It offers instant renewals and easy claim settlement.
- Managed by a group of experts and experienced professionals.
6 Policy Era Insurance Broking Pvt. Ltd.
Policy Era Insurance Broking Company is an IRDAI-registered company that provides services to the corporate sector and individuals. It focuses on financial activities, especially insurance broking. With strong capital and strict compliance, Policy Era aims for steady growth and trusted services in the industry.
Key features of Policy Era Insurance:
- It is approved to operate as an insurance broking firm.
- It offers approachable guidance to its customers.
- It provides nationwide services with its strong networking.
- Use of technology has made the purchase and claim process simpler.
Guide for Choosing the Best Insurance Broker
To choose the right insurance broker, you should consider the following tips:
- Choose brokers with good experience and expertise.
- Check for IRDAI authorization for credibility.
- Look for a company that offers services based on your needs.
- Choose an insurance broker that has a good customer rating.
- Select an insurance broker with a large number of insurance partners to get better options.
- Look for 24/7 customer support service from these insurance broker companies.
Role of Insurance Broker Companies in the Insurance Sector
Here is the role of insurance broker companies in the insurance sector among insurers and clients:
- Connects Clients and Insurers: Broker companies act as a link between customers and multiple insurance companies.
- Policy Comparison: It helps clients compare coverage, features, and prices to choose the best plan.
- Expert Guidance: It should provide professional advice based on individual or business needs.
- Customized Solutions: It should offer insurance plans that match your exact needs.
- Claims Assistance: The Insurance broker should support clients through the entire claim process for faster settlements.
- Risk Assessment: It should identify potential risks and suggest suitable insurance coverage.
- Market Access: It should offer a wide range of policies from various insurers under one roof.
- Customer Education: The company should explain policy terms and conditions in simple language for better understanding.
Conclusion
To sum up, there are many insurance brokers in Mumbai. All you need to do is choose the right firm based on your needs and preferences. You can choose any of the top insurance brokers given in this blog to get financial protection for unseen risks.
To choose the right insurance broker in Mumbai, you have to look for a good customer rating, partner insurers, available options, and, of course, their certification in IRDAI.
Picking the right broker will save you time, money, and effort. A trusted broker will also guide you through claims and renewals without hassle.
FAQs - Top Insurance Brokers in Mumbai
Insurance brokers in Mumbai are licensed experts who help you compare and pick the right plans from different insurers. They give personal advice, assist with policies, and help with claims, making insurance easier in the city’s busy lifestyle.
Some of the best insurance brokers include Square Insurance Broker Private Limited, Marsh India Insurance Brokers Private Limited, Akshar Group, Shift Risk Insurance Brokers Limited, CoverMitra Insurance Broking Pvt. Ltd., Policy Era Insurance Broking Pvt. Ltd.
Local brokers know the local rules, have good connections with Mumbai insurers. They also offer both face-to-face help and online services that make the insurance buying process faster and easier.
Trusted lists include brokers registered with IRDAI and members of the Insurance Brokers Association of India (IBAI), which means they follow rules, work professionally, and take responsibility for their clients.
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