SPA INSURANCE BROKING

Broker or going Direct to Insurer ?

A number of emerging organisations in our country face this question. Whether we should engage an insurance broker to negotiate with the 23+ approved insurers or deal direct with the insurers ourself. As an insurance broker, SPA has a duty of care to represent your interests at all times...

Buy or Renew or just Review?

As your business expands or your life changes, the types and levels of insurance policies that you need will change too. With increasing specialization in every sphere of life, your insurance administration also needs support from experts , support which is extended with complete responsibility...

News Updates

Title insurance: Much-needed relief for home buyers: Title insurance is an insurance of indemnity and unlike other insurances, it has a retrospective effect. This means, the title insurance indemnifies the insured against all the loses and claims that are suffered by the insured as a result of defect in the title of a property (of which the insured was not aware on the date of the policy) even before the date of the policy. itle insurance is fundamentally encompassed under the recent contemporary legislation, the Real Estate (Regulation and Development) Act 2016 (RERA), which is premeditated to shield the interest of the owners, investors including but not limited to lenders against any shortcoming in the title to a property.; IRDAI vide circular dated March 04, 2020 clarified that all claims reported under Covid 19 shall be thoroughly reviewed by the claims review committee before repudiating the claim and where hospitalization is covered in a product the insurer shall ensure that cases related to coronavirus disease (Covid 19) be expeditiously handled.
Insurers face up to Rs 25,000 crore hit, motor premiums may rise: The general insurance industry is staring at a loss of anywhere between Rs 10,000 crore and Rs 25,000 crore in the next few years, and motor insurance premium rates may rise after the government increased compensation for third-party deaths tenfold to Rs 5 lakh. A notification amending the Motor Vehicles Act was issued last week and the changes came into effect from May 22.; IRDAI vide circular dated March 04, 2020 clarified that all claims reported under Covid 19 shall be thoroughly reviewed by the claims review committee before repudiating the claim and where hospitalization is covered in a product the insurer shall ensure that cases related to coronavirus disease (Covid 19) be expeditiously handled.
HDFC Life Insurance launches Chat Bot Elle.: HDFC Life Insurance Company has launched Elle, a website Chat Bot that uses artificial intelligence and natural language processing to cater to existing policyholders. A chatbot, or bot, is essentially a computer software that is programmed and designed to chat with humans. Without human intervention, the Chat Bot Elle will be able to address policyholder's queries such as policy details, requests for premium receipts, and other statements. The bot will be available 24/7 with ..; IRDAI vide circular dated March 04, 2020 clarified that all claims reported under Covid 19 shall be thoroughly reviewed by the claims review committee before repudiating the claim and where hospitalization is covered in a product the insurer shall ensure that cases related to coronavirus disease (Covid 19) be expeditiously handled.

Insurance Broking including Placement

Our Insurance Broking Services, being a minimum level of engagement, help the Client in designing a RFQ , short listing the insurers, and thereafter, we approach agreed insurers with RFQ, prepare and submit a Quote Comparison. After hectic negotiation for the most value based coverage and evaluation, we help the Client in settling the final insurer...
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Portfolio Management Services

SPA's Portfolio Management Services provide end to end solution for insurance requirement of every sizable client. PMS is much more comprehensive than merely assisting you in placement of the business. It offers the client an opportunity to completely outsourcing its insurance function while retaining key decision making...
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Risk Analysis, Audit and Review Services

As against PMS, Risk Analysis, Review and Audit is a service limited in its scope. Many a clients in their initial phase of relationship with us, prefer to utilize our expertise for having their existing policies reviewed, risk environment scanned, gap found and constructing improvement suggested. We undertake such services with a fast pace and...
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Lenders Insurance advisory Services

Now-a-day. All large projects have major debt component. Lenders necessarily incorporate a provision of having Lender's Insurance Advisor in their Loan Agreement whose mandate is to assess the risks involved and suggest comprehensive insurance program. Working as LIA we offer same level of expertise otherwise available to our clients...
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Valuation & Risk Inspection Services

Valuation Services: Adequacy of sum insured is one of the foremost consideration for proper indemnification. Sum Insured, in turn, depends upon the replacement/market value of the underlying assets. We always insist that the Client must review the sum insured every year on every renewal. If the Client is unable to revise the same, they should use...
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E-Insurance Policies

Now each of your insurance policies (whether you have purchased insurance policy through 'SPA' or not) can be maintaintained in electronic form, saving you from hassle of preserving hard copies. Your new policies too can be secured in electronic form. SPA Insurance Broking Services Ltd ('SPA') has already been granted Registration to...
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