Mahindra Insurance Brokers Limited

Mahindra Insurance Brokers Ltd. (MIBL) set off on the journey of changing lives and the face of the insurance sector in India in the year 2004. MIBL is an 80% subsidiary of Mahindra & Mahindra Financial Services Ltd. (Mahindra Finance), and AXA SA holds 20% stake. 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. Since then, MIBL has empanelled itself with various public and private insurance companies to offer customised solutions to customers. In September 2011, it was granted a Composite Broker’s license by the IRDA, thus foraying into the Reinsurance Broking business. As a Total Insurance Risk Solutions provider, MIBL plays an integral role in the Risk Management portfolio of customers. Mahindra Insurance Brokers is one of the few insurance broking companies in India to have been awarded the prestigious ISO 9001:2015 Certification for Quality Management Systems. Since inception, MIBL has been committed to understanding the customers’ insurance needs and risk profile, and providing innovative, cost-effective, customised solutions to ensure total customer satisfaction. MIBL’s role, in short, encompasses various activities, right from risk profiling to claims administration for customers. MIBL aims to play a predominant role in the insurance broking industry with a focus on giving more value to customers, innovative solutions, superior services, a professional team, and corporate social responsibility. MIBL provides direct insurance broking for Commercial and Retail customers and offers a range of Life and Non-Life products. MIBL’s Direct division ensures every person at every doorstep is insured, while paybima.com, its online platform, enables customers to compare and buy a policy online. With Sajhedaari (a PoSP model) MIBL is not just insuring the hinterlands of India but also creating self-employment opportunities.