2. ABOUT INFINA INSURE
TO MANAGE YOUR RISK YOU NEED A
PARTNER WHO UNDERSTANDS YOUR
BUSINESS AND PROVIDES SUITABLE
RISK TRANSFER SOLUTIONS.
Infina has built up specialised industry and market knowledge enabling our team to advise on the most
complex of insurance programmes. Our team comprises experienced professionals whoa are knowledgeable
and fully updated with latest industry and product trends. This enables us to provide client-centric solutions,
cost effectively.
We take a holistic risk advisory approach rather than a product specific approach, to partner with our
clients. Thus, we are well equipped to advise on all aspects of risk and deal with all major insurers across
life, general and health insurance.
3. OUR STRENGTHS
INDEPENDENCE
We operate as an independent company of industry professionals who have come together. This allows us to operate
in our clients best interests. The promoters are hands on and very involved in the daily operations of the business. This
brings consistency and continuity to your engagement with us.
ENGAGEMENT
We believe in partnering with our client's to understand the nature of business and take a 'bottom up' risk oriented
approach.
STRONG INSURER RELATIONSHIPS
We have built strong relationships with multiple insurers and have identified specific expertise that each insurer has.This
is particularly important while identifying the right product provider for the each risk type.
TECHNICAL EXPERTISE
We operate across all lines of business - Life, General and Health and have built in house technical expertise.
CUSTOMER ORIENTATION
We have dedicated teams for each client. Each team is responsible for all aspects of policy servicing, claims and
renewals. We have tight process controls and turn around times to ensure effective delivery.
4. WHAT WE DO -OUR SERVICES
INSURANCE
AUDIT
INSURANCE
BROKING
RISK
ADVISORY
CLAIMS
CONSULTING
ACTUARIAL
SERVICES
6. INSURANCE AUDIT
An 'Insurance Audit' is often the start of our engagement with companies that are our clients. During this audit, we carry out risk
analysis of existing insurance policies of companies to identify how we can improve coverage, cost effectively. Some key
components of the insurance audit are:
Risk Review: Our team engages with you to understand your business, systems and processes to ensure that we capture the
types of risks that your company and employees face. We identify and analyse your risk exposures for all risks, including fire,
engineering, transit, credit risk, employee benefits and liability covers.
Technical Analysis: Insurance policies are technical in nature, with lots legal jargon, clauses, warranties and exclusions. These
need to be looked at carefully at the outset when purchasing insurance to ensure that, in the event of a claim, the coverage has been
comprehensive to protect against the loss. We review the insurance terms and conditions of your policies thoroughly.
Gap Identification: Through the above risk review and technical analysis of your existing insurance policies we provide you with
an easy to understand and independent evaluation of your current insurance coverage and a gap analysis for your consideration.
The Output - Insurance Audit Report: The output for discussion with our clients is an‘Insurance Audit Report’with detailed
suggestions on how you can simplify your insurance programme, ensure that all immediate risks are covered, gaps are identified and
suggestions are provided on relevant products and terms.
8. PROPERTY INSURANCE
Property insurance policies protect your property like buildings, plant and machinery, stocks, office equipment against
losses caused by fire, floods, storms, earthquake, terrorism, theft, accidental damage and breakdown. These policies
cover the cost to replace or repair the property. In case the property cannot be replaced or repaired, the policy can
provide monetary compensation.
Standard fire and special perils Industrial all risks
Electronic equipment policy Office umbrella policy
Money insurance Business interruption
ENGINEERING POLICIES
Property insurance policies protect your property like buildings, plant and machinery, stocks, office equipment against
losses caused by fire, floods, storms, earthquake, terrorism, theft, accidental damage and breakdown. These policies
cover the cost to replace or repair the property. In case the property cannot be replaced or repaired, the policy can
provide monetary compensation.
Boiler and pressure plants Machinery breakdown
Contractors all risk policy Erection all risk policy
Marine with erection Riskcontractors plant machinery
9. MARINE INSURANCE
Also known as‘Transit insurance’, this is suitable for exporters, importers, traders, manufacturers, contractors of projects,
bankers and individuals. The sales terms between the buyer and the seller usually define the insurance requirement. A
transit policy covers transit by road, rail, air or water. The classifications of transit policies are
Specific voyage policies Open policies
Sales turnover policies (stop) Marine hull insurance
MOTOR INSURANCE
Motor insurance must be taken by a vehicle owner whose vehicle is registered with the Regional Transport Authority
in India.
The cover includes comprehensive car insurance (if your car is stolen, damaged by fire or during an accident)
It also covers third party liability, if people claim against you for injury or damage to their car or property
Personal Accident cover for the driver in the event of death/permanent total disablement arising from car accident
There are several variants of motor car insurance policies such as zero depreciation plans, and plans with different
coverage levels consumables, tires and engine protection.
10. HEALTH INSURANCE
A health insurance contract between the insurer and the insured is when the insurer agrees to pay hospitalisation
expenses to the extent of an agreed sum insured in the event of any medical treatment arising out of an illness or an
injury. At Infina, we have a specialist team to support corporate HR departments in the communication of product
benefits to the employees. We offer both Group Health and Retail Health solutions.
Group Term Life Hroup Personal Accident Group Gratuity
Leave Encashment Group Pension Funds
BURGLARY, THEFT, FIDELITY AND CRIME
Burglary And Theft Crime Fidelity Guarantee
CASUALTY RISKS
Public Liability Product Liability
Workmen’s Compensation
11. JEWELERS BLOCK
This policy covers risks of jewelers whose business involves sale of articles of high value like jewelry, gold and silver
articles, diamonds and precious stones, wrist watches etc. The trade involves stocking these items in large quantity and
moving them between different premises.
CREDIT INSURANCE
This policy protects amounts receivable against non-payment from the buyer due to insolvency, protracted default
and political risks (for exports only). This policy is offered by insurers for domestic trade and exports and is an effective
tool indemnifying business risks.
LIABILITY
Companies are often exposed to legal liabilities arising out of breach of duty of care to the general public and their
customers. Directors and officers of a company are exposed to liability from the various decisions taken by them during
the performance of their duties. A liability could also arise from a defect in a product manufactured and sold. Specific
policies can be taken to cover legal liabilities of companies, directors and officers and other commercial establishments.
Directors And Officers Liability Product Liability
Professional Indemnity Product Recall
12. LIFE INSURANCE AND RETAIL PLANS
Based on the life stage and cash flow requirements of our customers, we can advise on each of the following life insurance
product categories and provide multiple comparative options to find the one most suited to our customers’ needs. We
offer advice on a number of life insurance products, including term life insurance, whole life products, endowment,
money-back, annuity and unit linked plans.
Term Life Insurance Whole Life Plans
Endowment Plans Moneyback Plans
Unit Linked Plans Annuities
RETAIL PLANS:
Home Insurance Travel Insurance
INSURANCE BROKING SERVICES
Our team at Infina has detailed industry knowledge and the relevant expertise, skills and relationships to advise and place
complex risks, by ensuring optimum pricing and coverage for our customers. Our Insurance Broking services comprise the
following:
Product Underwriting Quotation Preparation And Submission
Quote Comparison Cost Minimisation
Product Advisory Insurer Selection
Policy Servicing
13. CLAIMS SETTLEMENT
We have a team of experts who have a deep understanding of our client’s business and strong relationships with all
insurers and surveyors for timely claims settlement. We also provide advice on claims prevention. For example, in the
case of Group Health claims, we provide detailed claims analyses to help companies understand the nature of their
employee claims and how they can be reduced through employee awareness
COMMUNICATION
Employee communication is particularly relevant in certain product types, such as in Group Health policies.
Our services include
• Arranging communication campaigns with employees to help them understand the benefits of the group health
policy, terms and conditions and claims process, etc.
• Healthcare camps to check health status of your employees’health
• Periodic newsletters and informative materials on preventive healthcare
PROGRAMME SIMPLIFICATION
ESeveral companies have large amounts of fragmented insurance policies that are renewable at multiple dates, making
it an administrative burden for the internal team. We propose to simplify the insurance administration by streamlining
the policy renewals to a few key dates.
15. RISK ADVISORY
Infina works with a panel of IRDA certified Risk Inspectors who will complete a thorough evaluation of the various
exposures facing your business. We also complete a valuation of assets so that there is no underinsurance in the sum
insured declaration. The Risk Inspection and Valuation report will form an integral part of the insurance policy and will
ensure that the nature of risk is well documented. The report will provide cost effective, practical loss prevention
recommendations to reduce the frequency and/or severity of loss. The report will be used by the underwriters in
determining the terms of your insurance cover. This becomes particularly relevant in the event of a claim, as it ensures
that there has been transparency in declaration of risk for underwriting and documentation.
We encourage our customers to complete a thorough risk inspection, so that the various types of risk exposures are
documented in the policy.
Claims Assessment Ensuring Right Terms
Adequacy Of Sum Insured Risk Improvement
Locational Risk Lighting, Heating And Power
Process Of Manufacture Exposure
Safety Measures Management And Supervision
17. CLAIMS CONSULTING
Timely and fair claim settlement to rebuild your business in the event of a loss is core to our role. We have an
experienced claims team that will negotiate with insurers to expedite and obtain the best terms and facilitate all
aspects of the claims process to ensure that you have the cash flows required to re-build your business
Claims Control:
Our role as a claims consultant is also to analyze the patterns of claims that your organization faces and advise you on
how these claims can be minimized to reduce your overall premium outflow. Our engagement with the selection of
the insurer, third-party administrator, loss surveyors and review of you internal processes help reduce claims ratios.
These can be built in to the your risk management plans by determining frequently occurring claims and risk
improvement processes that can be incorporated cost effectively to minimize occurrence of a loss.
Claims Resolution:
We have strong relationships with the claims teams at the insurers and surveyors to support the client in complex or
disputed claims and support the insured in claims escalation with insurers and with consumer forums.
Loss Minimisation Advice:
In certain types of policies, particularly liability covers, where settlement time can be indefinitely delayed, we can
facilitate settlement of claims on a commercial basis, which will help reduce leg
19. ACTUARIAL SERVICES
Our sister concern, Insurance & Tax Consultancy Services (ITCS), has been carrying out the work of Actuarial Valuation
of Gratuity Liability, Leave Encashment Benefits, Pension Liability and Post Retirement Schemes for several leading
corporates across the country since 1972. We are currently servicing over 400 corporate clients, which includes Indian
private and public limited companies, multinationals, government enterprises and not for profit organisations. With an
expertise in this area and an experience for almost four decades, we assure our clients prompt and timely service and
accuracy in all our Actuarial Valuation reports as per legal requirements. We provide actuarial valuations of employee's
benefits as per statutory requirement of Accounting Standard 15 (revised) issued by the Institute of Chartered
Accountants of India.
Gratuity Liability Leave Encashment Liability
Earned Leave/leave Benefits Sick Leave Benefits
Pensions And Other Defined Benefits Plan
Post Retirement Medical Benefit Schemes
20. COMPANY ADDRESS
CONTACT
Mihas Setalvad
Managing Director
M +91 9820236399
E: mihas.setalvad@infinainsure.com
Ashish Jhamb
Chief Operating Officer
M +91 9821326760
E: ashish.jhamb@infinainsure.com
Abhishek Jhamb
Director - Client Servicing and Operations
M +91 9820843511
E: abhishek.jhamb@infinainsure.com
Infina Insurance Broking Pvt. Ltd.
6th Floor, New Harileela House,
34/38 Mint Road, Fort.
Mumbai 400001.
Telephone: +91 226 6375200,
E-mail: service@infinainsure.com
Website: www.infinainsure.com
