Mahindra Insurance Brokers Ltd. (MIBL) is a wholly owned subsidiary company
of Mahindra & Mahindra Financial Services Ltd. (Mahindra Finance) - India's
leading rural Non-Banking Finance Company that focuses on the rural and semi-urban
MIBL was granted a Direct Broker’s License by the Insurance Regulatory and Development Authority (IRDA) in May 2004, for undertaking direct insurance broking in Life and Non-Life businesses. MIBL has empanelled itself with various public and private insurance companies to offer customised solutions to customers. In September 2011, MIBL was granted a Composite Broker licence by the IRDA, thus foraying into Reinsurance Broking business along with Direct Broking. As a Total Insurance Risk Solutions provider, MIBL plays an integral role in the Risk Management portfolio of customers
MIBL is one of the few insurance broking companies in India to have been
awarded the prestigious ISO 9001:2008 Certification for Quality Management Systems. MIBL is committed to providing value to its customers by
understanding their insurance needs and risk profile, and providing innovative,
cost effective, customised solutions to ensure total customer satisfaction.
Our role, in short, encompasses various activities right from risk profiling
to claims administration for customers. Our aim is to play a predominant
role in the insurance broking industry in India with a focus on giving more
value to customers, innovative solutions, superior services, a professional
team, and corporate social responsibility.
The company provides direct insurance broking for Corporate and Retail
customers and offers a range of products for the Non-Life and Life segments.
In addition, MIBL also offers value-added services like Risk Management /
Audit which include risk inspection and gap analysis, and portfolio management
which includes claims handling.
The Life Insurance retail products cover Children’s Plans, Endowment,
Money Back, Retirement Plans, Term, Unit Linked Plans and Whole-Life Plans.
The Group Policies include Credit Cover, Employees Term Cover, Gratuity and
Superannuation. Under the Non-life Insurance category, Personal, Industrial,
Commercial, Social and Liability products are available.
In addition to regular products, customised solutions are also developed
for clients after consulting them. Mahindra Loan Suraksha is a customised,
cost-effective life insurance solution offering Group Credit Term Cover to
retail customers availing of auto and tractor loans from Mahindra Finance.
MIBL’s aim is to play a predominant role in the insurance broking
industry in India with a focus on value to customers, innovative solutions,
superior services, professional manpower and Corporate Social Responsibility.
To further strengthen its commitment to being a Customer Centric Company,
MIBL is now proud to be one of the few insurance broking companies in India
who have been awarded the prestigious ISO 9001:2008 Certification for Quality
Management Systems. Adopting Quality Management Systems ensures standardisation
of validated processes, measuring and monitoring of customer satisfaction
levels for improvement, and setting and achieving quality objectives for