As an Insurance Broker,JKRMIBL is supposed to seek “optimum” insurance solutions for it’s customers in the retail and the corporate segments.

But unlike most Indian insurance brokers, at JKRMIBL, we paint a wider canvas using our inhouse risk engineers and specialists we can and do look at all the dimensions of any “Pure Risk” situation faced by a customer and look at options for Risk Avoidance, Minimisation, Retention and finally look for innovative solutions for Transferring “Residual” risks popularly called “Insurance”.

Our Group’s significant knowledge resources employed in specialist consultancy firms, research institutes and institutions of higher learning can be leveraged to provide our demanding customers risk mitigation solutions which are unique for each customer.

Offcourse being a full service insurance broker we understand our legal responsibility to ensure for our customers all the services as laid down by the IRDA in the Regulations governing our business, and the range of services are:

• Obtaining detailed information of the client's business and risk management philosophy;
• Familiarising ourselves with the client's business and underwriting information so that this can be explained to an insurer and others;
• Rendering advice on appropriate insurance cover and terms;
• Maintaining detailed knowledge of available insurance markets, as may be applicable;
• Submitting quotation received from insurer/s for consideration of a client;
• Providing requisite underwriting information as required by an insurer in assessing the risk to decide pricing terms and conditions for cover;
• Acting promptly on instructions from a client and providing him written acknowledgements and progress reports;
• Assisting clients in paying premium under section 64VB of Insurance Act, 1938 (4 of 1938);
• Providing services related to insurance consultancy and risk management;
• Assisting in the negotiation of the claims; and
• Maintaining proper records of claims;

For our retail customers we bring to them the benefits of analysis by experts who choose the best price and coverage combinations from the various insurance company products for both life and non-life and make these available through our online web based pipeline which is accessed by our sales and marketing executives at Points of Sales to provide customers price and coverage comparisons and assist them in buying the insurance covers in a knowledgeable and cost effective manner.

Our remuneration strategy is simple and transparent:

For corporate customers with annual premium outgo in excess of INR 50 lacs, we have a fee based model for different services based on a use and pay approach. Please contact us for more information on our range of services and fee schedule.

For Other Corporate customers, we work on a preagreed brokerage basis built into the premium paid with prior and full Knowledge of our customers.

For Retail customers, our online network delivers products of various insurance companies, duly customized forJKRMIBL customers, giving them value for each single rupee paid as premium and our brokerage is built on a standard basis into the premium itself.

Under all circumstances our remuneration never crosses limits specified and laid down by the IRDA in it’s regulations.