Have you ever watched a friend buy an insurance policy because an agent promised “everything is covered”?
Months later, a hospital bill arrives, and they discover consumables or room rent aren’t covered, leaving them to pay out of pocket. Situations like these happen when people pick the first policy they see. Fortunately, there’s a better way to navigate India’s complex insurance landscape: work with an unbiased broker or a modern insurtech platform like Inka. Let’s explore why this approach protects both your health and your wallet.
Why a broker or platform?
Brokers represent you, not the insurer. They are licensed professionals who act on behalf of the customer and can offer policies from any insurer. Because they aren’t tied to one company, brokers specialise in assessing risks and advising clients on the best policy fits. In India, their value isn’t theoretical, Insurance brokers accounted for 45 % of the total group health insurance premium sourced in 2020–21. This surge reflects the growing recognition that expert guidance makes insurance decisions smarter.
Unbiased market scan and multi-quote comparison:
Brokers have deep knowledge of products across multiple insurers. Instead of relying on a single company’s brochure, a broker creates a multi‑quote matrix showing benefits, exclusions, and costs. They also explain hidden details such as sub‑limits on room rent or the scope of maternity cover so you don’t repeat the common mistake of buying a policy that excludes consumables. A good broker will even advise when a plan’s waiting periods or riders aren’t relevant for you, saving you money.
Negotiation power:
Insurance premiums, especially for group or family policies, aren’t always non‑negotiable. Skilled brokers know how to negotiate better rates and terms. Articles on group health insurance note that brokers negotiation skills can reduce premiums, whereas customers without brokers are “At the mercy of the agent or insurance company”. That negotiating edge can translate into thousands of rupees saved each year.
End‑to‑end claim support:
Claims are often where policyholders feel lost. Brokers assign dedicated teams who are available 24/7. They walk you through documentation, lodge the claim, coordinate with surveyors and insurers, and chase delays. This proactive hand‑holding relieves stress and speeds up settlement. Without such support, you might find yourself arguing with a hospital or insurer while recovering from illness.
The Inka advantage: AI‑driven personalisation and transparency
Traditional brokers rely on human expertise but Inka combines that with data. Born out of the insurtech startup InsurancePadosi, Inka rebranded in 2025 to democratise personalised insurance solutions. Its mission is to tackle trust deficits, information gaps, and choice overload by analysing family details, credit profiles, and demographics to recommend hyper‑personalised coverage in under 60 seconds. Inka’s AI‑powered advisory engine uses behavioural insights and financial data to generate an Inka Insurance Report with tailored recommendations.
Here’s why that matters:
- Transparent and human‑friendly. Inka’s campaign emphasises making insurance simple, transparent and customer‑first. The platform offers a free personalised report accessible via QR code and states that insurance should be clear, helpful, and accessible. This commitment to clarity resonates with customers who have historically distrusted insurers.
- Comparison across insurers. Because Inka is not tied to a single insurer, its AI engine scans multiple companies and presents options side by side. You can compare premiums, coverage and network hospitals without navigating dozens of websites. The result is an unbiased recommendation that reflects your goals and budget.
- Human claims support. While technology powers the recommendations, Inka recognises that claims require empathy. The platform offers hands‑on claim support similar to traditional brokers helping with pre‑file documentation, instant claim intimation, and coordination with surveyors to keep settlement timelines tight. Their leadership has publicly stated that the company’s commitment is to transparency and lifelong support.
- Transparent fees. Unlike some intermediaries who hide commissions, Inka discloses brokerage fees and commission structures so you know who pays what. This transparency helps build trust and reduces the perception that the adviser is “pushing” a product for hidden incentives.
What great brokerage looks like
A professional broker human or AI‑augmented follows a structured process:
- Needs analysis. The broker begins by understanding your family structure, income, liabilities, and health history. They also identify risks in your location (e.g., malaria‑prone regions or high accident zones). In legal terms, brokers specialise in risk management.
- Multi‑quote matrix. Next, they obtain quotes from multiple insurers and compile them into a matrix highlighting premiums, sum insured, sub‑limits, waiting periods, and riders. Brokers must solicit reasonable policies commensurate with their resources, as per IRDAI guidelines.
- Clause and rider fitment. Together with you, the broker reviews optional riders like critical illness, maternity, room rent waiver and selects only those that add real value. They also remove “dead riders” that duplicate coverage you already have.
- Onboarding and paperwork. Brokers handle form filling, KYC checks, and uploading documents, ensuring accuracy. Under IRDAI regulations, they must keep detailed records and maintain books of account; this protects you if disputes arise later.
- Renewal strategy with KPIs. A good broker doesn’t disappear after policy issuance. They monitor claim ratios, premium trends, and coverage gaps. At renewal, they review performance metrics such as loss ratio (claims paid vs. premiums) and suggest adjustments like increasing deductibles if claims are low or closing coverage gaps if risks change. The process is transparent and data‑driven.
Save money the right way
Insurance shouldn’t strain your budget. Here are smart ways to lower costs without sacrificing protection:
- Adjust deductibles wisely. Opting for a higher deductible reduces your premium but increases your out‑of‑pocket expense during a claim. For healthy individuals or families with emergency funds, raising the deductible can be a cost‑effective strategy. Brokers will show you how a ₹10,000 vs. ₹50,000 deductible impacts your premium and risk.
- Remove unnecessary riders. Many policies bundle riders like personal accident or daily hospital cash that you may already have elsewhere. Dropping duplicate riders can trim premiums. In contrast, keep riders such as critical illness if you lack separate coverage, brokers help evaluate these trade‑offs.
- Bundle covers. Purchasing health, term life, and even home insurance from the same insurer through a broker can attract multi‑policy discounts. Some insurers offer 5–10 % off when you combine policies. Inka’s AI engine highlights such bundling opportunities.
- Lock service SLAs. Brokers can negotiate service level agreements (SLAs) with insurers like maximum time to issue cashless approval or guarantee of an in‑person surveyor. These clauses provide accountability. Don’t hesitate to insist on them, insurers often agree when brokers leverage their portfolio size.
Claims playbook with Inka
The real test of any policy is during a claim. Follow this playbook to ensure a smooth experience:
- Pre‑file documentation. Keep copies of policy documents, ID proofs, medical records, and bills. Brokers often provide a checklist. This preparation avoids last‑minute scrambling.
- Instant intimation. Notify the insurer and broker as soon as an event occurs. Many brokers, including Inka, offer 24×7 helplines. Delays can lead to claim denial.
- Surveyor coordination. For hospitalization or property claims, the insurer may send a surveyor. Brokers coordinate appointments and ensure that surveyors receive all necessary documents. They also address any discrepancies on the spot.
- Escalation paths. If the claim is delayed or disputed, brokers know the escalation hierarchy within insurers. They can submit grievances, involve the Insurance Complaints Officer, or even file with the Insurance Regulatory and Development Authority of India (IRDAI) if needed. Their expertise speeds up resolution.
- Follow‑up and closure. After settlement, brokers verify that the payout matches the approved amount. They also advise on any tax implications.
Governance: Why Compliance Matters
Insurance is heavily regulated, and rightly so. IRDAI requires brokers to abide by strict codes of conduct. Brokers must act only in the business of insurance broking and comply with all regulations and circulars. They must also maintain a grievance redressal mechanism to resolve customer complaints within 14 days and keep detailed records of every policy sold. Additionally, they must maintain books of account and submit audited financial statements to the Authority. These compliance requirements protect you by ensuring transparency and accountability.
Platforms like Inka take this a step further by adopting a board‑approved policy on how insurance policies are solicited, including multiple tie‑ups and grievance redressal mechanisms. By choosing a broker or platform committed to governance, finance, and operations teams gain predictability with no hidden clauses, no surprise exclusions, and clear renewal reviews.
Final Thoughts
Insurance decisions are too important to leave to chance or to a single company’s marketing brochure. A broker or modern insurtech platform offers unbiased comparisons, negotiation power, and expert claim support. Studies show that brokers specialise in risk assessment and that their negotiation skills can significantly reduce premiums. Inka adds a layer of AI‑driven personalisation, combining health and financial data to deliver 60‑second insurance advice while maintaining transparency and human support. Whether you are 25 or 50, male or female, single or supporting a family, partnering with the right broker empowers you to protect what matters most.Ready to take control of your insurance journey? Speak to a trusted broker or explore Inka’s free personalised report and see the difference for yourself.
