The Company was formed on 18th August 1999. Visionary Founder-CMD, Shri V Sudhakar has incorporated the Company with ‘Insurance Broking’ as one of the main objects at that time itself even before formation of IRDA. EIBSL was Licensed by IRDAI as Direct Broker (Life & General) in the First Batch of licenses issued in January, 2003. Since then we have made steady progress. We have upgraded our license as Composite Broker in July 2013 after 10 years of service as Direct Insurance Broker. EIBSL has always functioned with 100% compliance to IRDAI Regulations and hold blemish less record in the matter of compliances to IRDAI Regulations, Income Tax Act, Companies Act, Service Tax etc. We have built a portfolio of large, medium and small enterprises. We have also built retail business in respect of Motor, Mediclaim, Overseas Travel and PA. We also hold good record of persistency under Life Insurance Policies because of our need-based selling process which prevents mis-selling. On Reinsurance Broking, our strengths are mentioned briefly as under: (i) Committed and qualified manpower in place. We have 50 + employees including professionals experienced in insurance industry with qualifications such as ACII (London), FIII (Fellow Insurance Institute of India), AIII (Associate Insurance Institute of India), MBAs, Chartered Accountant (for Technical Accounting to handle reinsurance monies), Risk Inspection Engineers, IT & Software Engineers etc. (ii) We have software in place to take care of our fiduciary responsibilities especially in handling client monies / recoveries / remittances with proper accounting in strict compliance with IRDA Regulations which gives the required confidence to insureds. We invest on effective software management systems by upgrading ourselves to market standards catering to the needs of the Insuring public. We have done pioneering job in Cattle Insurance between 2013-2018.
