IBAI - Insurance Brokers Association of India

IBAI - Insurance Brokers Association of India Contact information, map and directions, contact form, opening hours, services, ratings, photos, videos and announcements from IBAI - Insurance Brokers Association of India, Nonprofit Organization, G K marg, Lower Parel, Mumbai.

The main objects of IBAI are to promote interaction among the Insurance/Re-insurance Broker members and to encourage, promote, facilitate and protect the interests of the members of IBAI and to provide an avenue to the members for further education, train

IBAI President Shri Narendra Kumar Bharindwal had the privilege of meeting Ms. Swagat Sushma Bhandari, IAS, Director (In...
04/06/2026

IBAI President Shri Narendra Kumar Bharindwal had the privilege of meeting Ms. Swagat Sushma Bhandari, IAS, Director (Insurance), Department of Financial Services, Government of India.

During the meeting, the latest edition of iBroker Magazine was presented, followed by a constructive and insightful discussion on key issues shaping the Insurance Broking Industry in India.

We sincerely thank Ms. Swagat Sushma Bhandari for her valuable time and the opportunity to engage in such a meaningful and productive dialogue.

IBAI President Shri Narendra Kumar Bharindwal had the privilege of meeting Shri Debasis Prusty, IAS, Additional Secretar...
04/06/2026

IBAI President Shri Narendra Kumar Bharindwal had the privilege of meeting Shri Debasis Prusty, IAS, Additional Secretary, Department of Financial Services, to present the latest edition of iBroker Magazine and engage in a highly constructive discussion.

We are deeply grateful to Shri Prusty for his invaluable time, meaningful insights, and continued support for the insurance broking industry.

Our President, Narendra Kumar Bharindwal, attended the partnership announcement of Diot-Siaci Group (present across 40+ ...
30/05/2026

Our President, Narendra Kumar Bharindwal, attended the partnership announcement of Diot-Siaci Group (present across 40+ countries) and Unilight Insurance Brokers Pvt. Ltd. on 26th May 2026.

On this occasion, he presented the latest edition of our I-Broker Magazine and extended warm congratulations to both organizations on this landmark alliance.

The coming together of global expertise and homegrown strength reflects the growing international confidence in India's immense insurance potential. This partnership promises to elevate standards of risk management, innovation, and client service for India and beyond.

On this occasion, he presented the latest edition of our I-Broker Magazine and extended warm congratulations to both organisations on this landmark alliance.

(L to R: Mr. Cedric Charpentier, CEO, Diot-Siaci Group | IBAI President Narendra Kumar Bharindwal | Mr. Pierre Donnersberg, Co-Chairman, Diot-Siaci Group | Mr. Biswajeet Mohanty, Co-Founder, Unilight Insurance Brokers Pvt. Ltd.)

IBAI President Narendra Kumar Bharindwal had the privilege of meeting Shri M. Nagaraju, IAS, on the occasion of his supe...
30/05/2026

IBAI President Narendra Kumar Bharindwal had the privilege of meeting Shri M. Nagaraju, IAS, on the occasion of his superannuation as Secretary, Department of Financial Services, Government of India.

On behalf of the insurance broking fraternity and the wider insurance industry, we conveyed our sincere gratitude for his invaluable guidance, steadfast support, and constructive engagement with IBAI over the years. His leadership, accessibility, and commitment to strengthening India's financial services ecosystem have been deeply appreciated by all stakeholders.

We remain truly grateful for his association with the insurance sector and wish him good health, happiness, and success in all his future endeavours.

Thank you, Sir, for your service to the nation and for your continued encouragement to the insurance industry.

A Productive Step Forward for the Insurance Broking Industry! The IBAI - Insurance Brokers Association of India Leadersh...
29/05/2026

A Productive Step Forward for the Insurance Broking Industry!

The IBAI - Insurance Brokers Association of India Leadership and Members recently had a significant meeting with Shri. Sanjay Mangal, Member, Central Board of Indirect Taxes and Customs (CBIC), joined by representatives from EY, to discuss critical GST matters pertaining to Reinsurance and Composite Brokers.

We are pleased to share that our industry representation was received positively, marking a constructive dialogue towards addressing long-standing GST challenges faced by the broking community.

As a token of our commitment to knowledge and transparency, we also presented the latest edition of I-Broker to Shri. Sanjay Mangal, a publication that continues to reflect the pulse of our industry.

We remain steadfast in our mission to advocate, engage, and elevate the insurance broking ecosystem in India. Every conversation at the right table brings us one step closer to meaningful reform.

Stay tuned for further updates as we continue to work tirelessly for the industry's progress.

CBIC IndirectTaxes InsuranceBrokingIndia IBroker PolicyAdvocacy IndustryRepresentation InsuranceIndia GSTMatters StakeholderEngagement IndiaInsurance IBrokerMagazine EY InsuranceRegulation BrokingCommunity IRDAI

A Productive Step Forward for the Insurance Broking Industry! The Insurance Brokers Association of India (IBAI) Leadersh...
27/05/2026

A Productive Step Forward for the Insurance Broking Industry!

The Insurance Brokers Association of India (IBAI) Leadership and Members recently had a significant meeting with Shri. Sanjay Mangal, Member, Central Board of Indirect Taxes and Customs (CBIC), joined by representatives from EY, to discuss critical GST matters pertaining to Reinsurance and Composite Brokers.

We are pleased to share that our industry representation was received positively, marking a constructive dialogue towards addressing long-standing GST challenges faced by the broking community.

As a token of our commitment to knowledge and transparency, we also presented the latest edition of I-Broker to Shri. Sanjay Mangal — a publication that continues to reflect the pulse of our industry.

We remain steadfast in our mission to advocate, engage, and elevate the insurance broking ecosystem in India. Every conversation at the right table brings us one step closer to meaningful reform.

Stay tuned for further updates as we continue to work tirelessly for the industry's progress.

‘Mis-selling is fundamentally a governance and conduct issue. Lower commissions alone won’t eliminate it; they may only ...
17/05/2026

‘Mis-selling is fundamentally a governance and conduct issue. Lower commissions alone won’t eliminate it; they may only push it into less transparent forms.’ IBAI - Insurance Brokers Association of India President Narendra Kumar Bharindwal tells ETBFSI’s Anushka Sengupta that the real focus must be on stronger disclosure, suitability and accountability frameworks to protect customers while preserving a healthy, competitive broking ecosystem.

https://bfsi.economictimes.indiatimes.com/articles/insurance-industry-faces-turbulence-potential-agent-exits-and-slower-rural-growth-amid-commission-cuts/131059830

We are pleased to share an insightful opinion piece by our President, Narendra Kumar Bharindwal, published in Business S...
12/05/2026

We are pleased to share an insightful opinion piece by our President, Narendra Kumar Bharindwal, published in Business Standard on May 3, 2026.

In this must-read column, Narendra Bharindwal unpacks how escalating global tensions, particularly around Iran, the US and Israel, are no longer distant headlines for India's insurance industry. From soaring war-risk premiums on Strait of Hormuz routes to tightening reinsurance terms globally, the ripple effects are being felt across marine, aviation, travel and life insurance segments right here at home.

Key insights from the piece:
🔹 War-risk premiums rising sharply for energy-dependent trade routes
🔹 "Grey zone" conflicts blurring the lines between war, terror & cyberattacks, complicating claims
🔹 Global reinsurers hardening terms, increasing costs for Indian policyholders
🔹 Traditional actuarial models are no longer sufficient; dynamic risk frameworks are the need of the hour
🔹 Transparent policyholder communication is more critical than ever

As Narendra Bharindwal puts it: "India may not be a direct participant in the conflict, but as a globally integrated economy, it cannot remain insulated from its consequences."

The onus is now on insurers and brokers to adapt, innovate and lead with clarity.

Read the full article on Business Standard: https://www.business-standard.com/opinion/columns/geopolitical-risks-no-longer-rare-for-india-s-insurance-industry-126050300632_1.html

Business Standard Mumbai, 4 May 2025 Story by Aathira VarierThe share of high-value health insurance policies has more t...
06/05/2026

Business Standard Mumbai, 4 May 2025 Story by Aathira Varier

The share of high-value health insurance policies has more than doubled in just 8 months since the government rationalised GST on individual health insurance policies, reducing it from 18% to zero!

"Companies are not able to offer high-value coverage, except in the case of select organisations and that too mainly for management level. It could also be one of the reasons driving people to buy higher-sum insurance covers." says Narendra Kumar Bharindwal, President, IBAI - Insurance Brokers Association of India

The numbers speak for themselves:
Policies worth ₹1 crore & above: 2% → 12%
Policies worth ₹20 lakh to ₹1 crore: 11% → 16%
Low-value policies (below ₹10 lakh): dropped from 26% → 10%

This is a defining moment for India's health insurance landscape. IBAI remains committed to advocating reforms that empower every Indian with meaningful financial protection.

25 years of trust, resilience, and unwavering commitment to protecting India. From a bold vision in 2001 to a powerful l...
03/05/2026

25 years of trust, resilience, and unwavering commitment to protecting India.

From a bold vision in 2001 to a powerful legacy in 2026, Bajaj General Insurance Limited has truly redefined what it means to stand by millions of Indians through every twist and turn of life.

IBAI - Insurance Brokers Association of India extends its heartfelt congratulations to Dr. Tapan Singhel and the entire Bajaj General Insurance family on this incredible Silver Jubilee milestone!

Your leadership and vision have been the cornerstone of 25 years of excellence. Here's to building an even stronger, bolder future ahead!

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G K Marg, Lower Parel
Mumbai
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