Alliance Insurance Brokers

What Alliance Insurance Brokers does

Alliance Insurance Brokers Private Limited is a Mumbai-headquartered, IRDAI-licensed composite insurance broking firm founded in 2003 by S.V. Thakkar, operating as one of the first ten licensed brokers in India. The company serves corporate clients across nine specialty verticals — Aviation & Aerospace, Banks & Financial Institutions, Infrastructure & Energy, Manufacturing, Media & Entertainment, Privilege Signature Services (HNWI), Specie (gems, jewellery, valuables), Sports & Events, and Services — through dedicated sector teams anchored from 14+ offices across India. It also operates reinsurance brokerage (facultative and treaty), placing risk with Indian insurers and international reinsurance partners, and in 2018 extended into the consumer/SME channel via the Elephant.in B2B2C insurtech platform.

The firm's underlying technology stack is composed of conventional digital tooling rather than advanced AI: AllianceConnect (a Salesforce Experience Cloud-based client portal for portfolio, claims, and endorsement visibility), the EB 360 dual-login employee benefits portal, a Credit Insurance Benefit Calculator that performs financial stress-testing, a Surety Bond portal, and the Elephant.in front-end for personal and business insurance. Internally, the firm operates a proprietary Claims Management Software enabling end-to-end claim tracking with surveyor input capture. Marketing relies on the corporate website, brand and capability videos, and digital content rather than performance paid acquisition at scale.

Alliance earns revenue primarily through commission-based insurance placement (direct and reinsurance), supplemented by fee-based risk consulting, audit, and risk assessment services. Pricing is not publicly disclosed and is negotiated client-by-client. Distribution is overwhelmingly direct enterprise field sales with sector-specialized teams, complemented by inside-sales and digital self-service for the SME/personal lines channel. The company remains majority director-owned with disclosed institutional capital limited to the 2016 PE investment from Access Asset Managers (~$8.25 million), and has maintained ISO 9001:2015 and ISO 27001:2022 certifications.

Name

Alliance Insurance Brokers

Legal name

Alliance Insurance Brokers Private Limited

Website

https://allianceinsurance.in

Company type

Private

Founded year

2003

Operating status

Operating

Headcount range

251–500 employees

Short description

Alliance Insurance Brokers is a Mumbai-headquartered, IRDAI-licensed composite insurance broker founded in 2003, serving corporate clients across nine specialty verticals (Aviation, Banking, Infrastructure, Manufacturing, Media & Entertainment, Specie, Sports, HNWI, Services) via dedicated sector teams in 14+ Indian cities and digital platforms including AllianceConnect and Elephant.in.

Ownership category

akta.pro rank

Product category

Insurance Brokerage

NAICS

Insurance Agencies and Brokerages (52421), Other Insurance Related Activities (52429)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Specialty Insurance Brokerage (Marine, Aviation, Cyber, Professional Lines) (FSAEADAJ)

akta.pro secondary industries

Insurtech-Enabled Brokerage (Digital Brokers & Aggregators) (FSAEADAN), Trade Credit Insurance Brokerage (FSAEADAL), P&C Reinsurance Brokerage (FSAOAHAG)

Keywords

• Insurance broking services
• Reinsurance broking
• Corporate risk advisory
• Employee benefits administration
• Sector insurance solutions

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices15 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Marketing or Sales, Operations, Infrastructure, Technology or R&D

Revenue model

1. Insurance Broking Commission: Alliance earns commissions from insurance companies for placing risk coverage on behalf of corporate clients. The broker acts as intermediary between clients and insurers, earning a percentage of the premium as commission. Services include risk assessment, policy placement, and ongoing policy administration.
2. Reinsurance Broking: Reinsurance placement services for insurance companies, helping them transfer portions of risk to reinsurers. Alliance operates as a composite broker providing both facultative and treaty reinsurance placement services.
3. Risk Consulting and Advisory: Fee-based risk consulting services including audit, risk assessment, and customized risk management program design for corporate clients across various sectors.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Alliance Insurance Brokers is a B2B insurance intermediary that places, structures, and services insurance and reinsurance coverage for corporate clients across India. The firm operates through three practices (Corporate Solutions Group, Specialty, and Reinsurance) and delivers sector-specific solutions for Aviation, Banking, Infrastructure, Manufacturing, Media & Entertainment, Sports, Specie, and Privilege clients, supported by proprietary digital portals for portfolio tracking, employee benefits, and credit insurance analysis.

Product overview

Alliance Insurance Brokers operates a multi-platform, service-divisional model centered on insurance broking and risk management. The core offering spans Corporate Solutions Group (large corporate risk), Specialty Practice (media, sports, specie), and Reinsurance. Client-facing digital platforms include AllianceConnect (Salesforce-based client portal), Elephant.in (B2C/B2B2C insurtech channel for personal and business insurance), Elephant Benefits EB360 (employee benefits HR/employee portal), the Credit Insurance Benefit Calculator (financial analysis tool), and the Surety Bond portal. These platforms are supported by service verticals in audit and risk assessment, insurance broking, and claims management, alongside sector-specific insurance solutions for Aviation, Sports & Events, Media & Entertainment, Specie (jewellery, bullion, fine art), Banks & Financial Institutions, Privilege Signature Services (HNWI), Infrastructure & Energy, Manufacturing, and general Services.

Differentiator

Problem solved

Functional benefit

Brands

• Elephant.in: India's first Insurtech consulting platform for Employees & Businesses offering corporate discounts on personal insurance products such as Motor, Health, Term Insurance, Home Insurance.
• EB 360
• AllianceConnect

Products and services

• Elephant.in Insurtech consulting platform for employees and businesses offering corporate discounts on personal and business insurance products such as Motor, Health, Term Insurance, and Home Insurance; accessed via corporate email ID.
• Elephant Benefits (EB 360) Dual-portal platform providing Employee Login and HR Login for managing employee benefits including group health insurance, with real-time access to coverage details and administration.
• AllianceConnect Salesforce Experience Cloud-based client portal providing real-time access to the entire insurance portfolio including policy details, renewals, claims status, cash deposit accounts, endorsements, and instalments.
• Credit Insurance Benefit Calculator Online calculator that helps companies analyze the tangible financial benefits of a credit insurance program, including borrowing enhancement, interest cost savings, bad debt reserve analysis, and stress testing.
• Surety Bond Portal Online portal enabling surety bond placement and management services for clients.
• Corporate Solutions Group Insurance broking and risk management practice serving large manufacturing entities and services sector clients with comprehensive coverage design and placement.
• Specialty Practice Specialty insurance broking for unusual and high-value risks across Media & Entertainment, Sports, Gems & Jewellery, and Bullion & Cash Management segments.
• Reinsurance Practice Composite reinsurance brokerage offering facultative and treaty reinsurance placement with cumulative treaty team experience of 60+ years working with public and private sector insurance companies.
• Audit & Risk Assessment Risk consulting service providing context mapping, risk identification, risk analysis, risk evaluation, and development of treatment plans for corporate clients.
• Claims Management Dedicated claims management service with proprietary software-enabled process tracking, providing timely settlement across manufacturing, construction, power, energy, media, sports, credit, and aviation sectors.
• Aviation & Aerospace Insurance Aviation insurance solutions covering hull all risk, legal liability to passengers and third parties, war perils, loss of license for pilots (INR 1 crore sum insured), personal accident, and hangar keeper's liability.
• Sports & Events Insurance Sports and events insurance including event cancellation, broadcaster coverage, player loss of fees, player bonus/prize indemnity, standalone terrorism, personal accident, medical, liability, and travel coverage for sporting events.
• Media & Entertainment Insurance Insurance solutions for the entertainment industry including film production insurance, media liability/errors and omission, distributors loss of revenue, advance paid to stars insurance, film completion bond, and commercial general liability.
• Specie Insurance Specialized insurance for gems, jewellery, precious stones, bullion, cash in transit, fine art, exhibitions, employee fidelity, and standalone terrorism coverage.
• Banks & Financial Institutions Insurance Banking and financial institution insurance including credit insurance, political risks, comprehensive crime cover, directors and officers liability, bankers indemnity, ATM package, and cybercrime coverage.
• Privilege Signature Services Bespoke insurance solutions for high-net-worth individuals covering homes, art and artefacts, yachts, kidnap and ransom coverage, travel, collateral protection, key person insurance, automobiles, liability, worldwide health cover, and personal asset ring-fencing.
• Infrastructure & Energy Insurance Project insurance for infrastructure and energy projects including Contractors All Risk, Erection All Risk, Advance Loss of Profit, Civil Engineering Completed Risk, marine imports, liability programs, and directors and officers coverage.
• Manufacturing Insurance Manufacturing insurance including machinery breakdown, machinery loss of profit, property insurance, and business interruption coverage for manufacturing operations.
• Insurance Broking Core insurance broking service delivering professional advice and risk management solutions for both generalist (fire, machinery breakdown, motor, theft) and specialist profiles (event cancellation, credit, production cancellation).

Quantifiable outcome

• 100% growth rate achieved in first year (2004) and maintained through 2008 global recession
• +3 more outcomes

Named customers6 records

Segments10 records

Ideal customer profiles7 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature4 records

Partnerships

Five partnerships are on record, tiered core and minor.

• International Reinsurance MarketscoreOthers · 1 January 2011Alliance maintains pre-agreed placement facilities with international reinsurers for various lines of business including standalone terrorism, Marine Cargo, Jewellers Block, Mega Projects and liabilities. Treaty team works with both public and private sector insurance companies.
• Leading Commercial Pilot AssociationscoreStrategic or Co-development Partner · 1 January 2008Alliance entered into tie-ups with leading Commercial Pilot Associations in India for providing Loss of License insurance, pioneering individual pilot coverage with INR 1 crore sum insured limit. Over 300 pilots enrolled in the program.
• Global ReinsurerscoreOthers · 1 January 2005Alliance established partnerships with various global reinsurers in 2005 enabling access to international reinsurance markets and capacity for placing complex risks. These partnerships support both facultative and treaty reinsurance operations.
• India's Leading Underwriters for High Net Worth IndividualscoreStrategic or Co-development PartnerPrivilege Signature Service team has strong relationships with India's leading underwriters specializing in insurance for high-net-worth individuals and families, providing bespoke coverage for custom-built homes, private jets, yachts, and fine art collections.
• Counterparts in Major Market AreasminorOthersAlliance maintains an intelligence gathering network with counterparts in other major market areas to stay informed of developments in aviation and aviation insurance industry, regulatory and legislative changes, enabling innovative solutions for clients.

Scale indicators8 records

Recent moves12 records

Expansion highlights5 records

Direct peers

• Marsh India: India arm of Marsh & McLennan, providing insurance broking, risk advisory, and reinsurance services to large corporates. Directly comparable given overlapping corporate client base, sector coverage, and specialty line capabilities competing with Alliance.
• Aon India: India operations of Aon plc, offering commercial risk, reinsurance, and specialty insurance brokerage. Comparable to Alliance in serving large corporates across multiple verticals including financial services, energy, and aviation.
• Willis Towers Watson India: India arm of WTW, providing insurance and reinsurance brokerage alongside advisory services. Direct competitor for enterprise risk placements in infrastructure, financial institutions, and specialty lines.
• Howden India: Global specialty insurance broker with growing India presence, focusing on aviation, marine, energy, and complex specialty risks. Highly comparable specialty focus to Alliance's aviation, marine cargo, and mega-project placements.
• J.B. Boda Group: Indian insurance and reinsurance broker with strong specialty practice covering aviation, marine, and engineering risks. Comparable domestic footprint, specialty focus, and reinsurance broking capability to Alliance.
• K.M. Dastur Reinsurance Brokers: Indian composite reinsurance broker providing treaty and facultative placements to Indian insurers. Directly comparable reinsurance broking practice with similar India-only geographic scope and relationships with international reinsurers.
• Anand Rathi Insurance Brokers: Indian financial services group with insurance broking operations serving corporate and HNWI clients across multiple sectors. Comparable B2B brokerage model and HNWI/specialty focus to Alliance.

Emerging players

• SecureNow Insurance Broker: Indian insurtech broker focused on commercial insurance distribution for SMEs and digital platform-based policy management. Partial overlap with Alliance's Emerging Corporate Group and digital platform initiatives.
• Plum: Indian insurtech platform focused on employee health benefits and group insurance for businesses. Direct overlap with Alliance's EB360 employee benefits portal in serving HR teams with group insurance administration.
• InsuranceDekho: Indian insurtech aggregator offering digital distribution of insurance products across consumer and SME segments. Partial overlap with Alliance's Elephant.in B2B2C platform in driving digital personal lines distribution.

Market position

Strengths1 record

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights8 records

Customer concentration

• Xx.com/AlliancePvtLtd
• LinkedInlinkedin.com/company/alliance-insurance-brokers-pvt-ltd

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Alliance Insurance Brokers