Square Insurance Brokers

Square Insurance Brokers is a direct insurance broker registered with IRDAI specializing in life and general insurance aggregation and distribution across retail and corporate segments. The company operates an insurtech platform combining technology-enabled distribution with personalized advisory services to democratize insurance access across Tier-I, II, and III cities and rural markets in India.

Core Products & Services

• Life Insurance Products: Life insurance policies, term insurance, endowment plans, and group life insurance products from partnered insurers

• General Insurance Products: Health insurance, motor insurance, travel insurance, home/property insurance, business insurance, cyber insurance, and personal accident coverage

• Micro-Insurance Products: Affordable, simplified insurance products in collaboration with leading insurers tailored for underserved and rural markets (livestock/cattle insurance in development)

• Corporate Risk Management Solutions: Customized risk management and insurance solutions across diverse sectors including logistics, liability, engineering, marine & cargo, aviation, oil & gas, film, trade & credit, and sports & events

• Insurance Advisory & Consultation: Expert-led personalized insurance guidance and needs assessment for both individual and corporate clients

• Online Policy Comparison & Purchase Platform: Digital-first platform enabling customers to compare insurance quotes across insurers and purchase policies online with instant issuance

• Claims Management Services: End-to-end claims facilitation including loss assessment, insurer coordination, documentation support, and expedited settlement processing

• POSP Insurance Agent Network: Point-of-Sale Person (POSP) distribution channel enabling flexible insurance sales through independent agents

Business Model & Revenue Streams

Business Model – Multi-Channel Insurance Distribution with Tech-Enabled Aggregation

• Direct insurance broker model connecting 25,000+ channel partners (individual POSP agents, institutional partners) across 20+ states with major life and general insurance companies

• Three-tier distribution: B2B partnerships with institutions, B2C direct-to-consumer online platform, and POSP agent network for grassroots reach

• AI-based technology infrastructure for quote comparison, customer matching, instant policy issuance, and digital policy management

• Omnichannel accessibility through website, mobile app, and agent network combining digital convenience with personalized advisory

• Corporate advisory practice for complex business insurance requirements

• Insurance Brokerage Commissions: Primary revenue from life and general insurance policy placements; commissions vary by product type and insurance partner

• Channel Partner Commissions: Revenue from POSP agent network activations and policy distributions through distributed agent force

• Institutional Partnership Revenue: B2B commissions from fintech and e-commerce company integrations expanding insurance reach in underserved segments

• Corporate Advisory Fees: Professional advisory fees from tailored risk management and insurance solutions for corporate clients

• Data & Analytics Services: Emerging revenue from insights and analytics on insurance penetration and customer behavior patterns