Newly Established Insurance Agency Seeking Loan in Hyderabad, India
|Employees||5 - 10|
|Legal Entity||Private Limited Company|
|Run Rate Sales||USD 300 thousand|
|Local Time||2:30 PM Asia / Kolkata|
|Listed By||Business Owner / Director|
• A young startup, providing insurance claims investigation services for insurance companies and third party administrators.
• Our head office is based in Secunderabad, Hyderabad. We have 5 additional branches operating in Andhra Pradesh, Karnataka, Jharkhand and Chattisgarh. Planning to expand to Tamil Nadu and Kerala as well.
• The company was registered in 2022. We started onboarding clients 2 months back.
• We have designed an online system and mobile app for claims investigation services which is a real time reporting system and we are the first in India to implement it.
• Our clients are from Health and Life insurance companies. We have 4 active clients, which include IFFCO Tokio General Insurance, Acko General Insurance, TATA AIA Life Insurance and Mediassist. 2 more clients will join shortly.
• We receive our payment on per case basis, which ranges between INR 2,000 to 7,000. We get about 600 cases per week.
• Our activities include residence checks, employee verification, hospital verification etc. This does not involve providing insurance and hence, it is not required to be registered under any financial regulator.
• We have a total of 140 employees spread across all the locations, among which 8 are full-time (including the directors) and the others are on a contractual basis.
• The business is currently operated from the directors' personal funds, hence we are running at a breakeven.
• We are booming quickly with more than expected business and will be in demand till the Insurance sector exists.
Investigation services for insurance companies and third party administrators.
We have 4 active clients, which include IFFCO Tokio General Insurance, Acko General Insurance, TATA AIA Life Insurance and Mediassist.
Physical assets include office furniture and laptops.
Intangible assets include the official website and mobile application.
600 sq ft. office located in Secundarabad, Hyderabad. Rent is INR 18,000 per month.
The business is funded by the promoter from own funds.
No loans or liabilities.
There are 2 directors, holding an ownership of 60% and 40%.