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Newly Established Insurance Agency Seeking Loan in Hyderabad, India

Young startup providing insurance claim investigation services to insurance companies and third party administrators.

Established 0-1 year(s)
Employees 5 - 10
Legal Entity Private Limited Company
Reported Sales Nil
Run Rate Sales USD 300 thousand
EBITDA Margin Nil
Industries Insurance Agencies
Locations  Hyderabad
Local Time 2:30 PM Asia / Kolkata
Listed By Business Owner / Director
Status Moderately Active
Overall Rating
Seeking Loan
USD 12 thousand for 10.0% annual interest, 1 year (Native Currency: INR 1,000,000)
Reason: For office expansion and business maintenance as our client base and business volume have increased ... View More
Collateral Available: USD 0
Includes physical assets worth USD 2.4 thousand
Interested to connect with advisors
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Business Overview

• 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.

Products & Services Overview

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.

Assets Overview

Physical assets include office furniture and laptops.

Intangible assets include the official website and mobile application.

Facilities Overview

600 sq ft. office located in Secundarabad, Hyderabad. Rent is INR 18,000 per month.

Capitalization Overview

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%.

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Disclaimer: SMERGERS is a regulated marketplace for connecting business sell sides with investors, buyers, lenders and advisors. Neither SMERGERS represents nor guarantees that the information mentioned above is complete or correct.
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