Unison Insurance Broking Services

What Unison Insurance Broking Services does

Unison Insurance Broking Services is a privately held composite insurance and reinsurance broker founded on October 27, 1998, and headquartered in Vadodara, Gujarat, India. The firm is regulated by the Insurance Regulatory and Development Authority of India (IRDAI) under Composite Broker Registration No. 149 (valid through April 14, 2027) and by the International Financial Services Centres Authority (IFSCA) under registration IIIO/012/2019-20, enabling both domestic direct broking and cross-border reinsurance placements through its GIFT City office. It serves corporate, industrial, and individual clients across 12+ Indian cities (Vadodara, Mumbai, Ahmedabad, Bengaluru, Chennai, Delhi, Hyderabad, Surat, Rajkot, Pune, and GIFT City) with 350-400+ professionals, handling premium volumes exceeding INR 10 billion across approximately 19,000 clients. The firm claims an "industry best client retention ratio" and was the only Indian broker shortlisted by Lloyd's London at The Insurance Insider Honours in 2013, later winning Insurance Broker of the Year at the 2021 World Leadership Forum.

The product portfolio is structured across commercial insurance (property, marine cargo and hull, energy onshore/offshore, construction all risk, aviation), specialty liability lines (D&O, cyber liability, clinical trial, M&A representation and warranties, pollution legal liability, product recall), employee benefits (group health, group personal accident, group term life, EDLI), and personal lines (householder, shopkeeper, mediclaim, term life, travel). Supporting service lines include risk engineering and loss prevention, end-to-end claims management, global insurance programme management for multinational exposures, cyber risk assessment, and treaty and facultative reinsurance broking. Technology infrastructure consists of the Edge Employee Benefit Portal (a cloud-based SaaS platform for corporate clients), hosted on AWS and Microsoft Azure, with compliance to ISO 27001, DPDP Act 2023, IT Act 2000, and CERT-In Directions.

The business model is commission-based, earning from insurance carriers for direct policy placement and renewal, transaction fees on reinsurance placements, and professional services fees for risk advisory engagements. Distribution is exclusively relationship-led with dedicated Business Heads and relationship managers at each regional office; there is no public-facing direct-purchase channel and no disclosed pricing tiers. The firm is privately held with no institutional investors, parent company, or public listing disclosed, and operates with no external funding rounds on record. Geographic expansion has been entirely organic over 27 years, with the most recent additions being Pune, Rajkot, Surat, and GIFT City offices.

Name

Unison Insurance Broking Services

Legal name

Unison Insurance Broking Services Private Limited

Website

https://unisoninsurance.net

Company type

Private

Founded year

1998

Operating status

Operating

Headcount range

251–500 employees

Short description

Privately held Indian composite insurance and reinsurance broker (IRDAI and IFSCA registered) founded in 1998, serving 19,000+ corporate, industrial, and individual clients across 12+ cities with 350-400+ professionals and premium handling exceeding INR 10 billion annually.

Ownership category

akta.pro rank

Headquarters

HQ city

Vadodara

HQ country

India

HQ region

Asia

Offices11 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Insurance Broking Commissions: Earns commissions from insurance companies for placing and renewing insurance policies for corporate and individual clients. As a composite insurance broker regulated by IRDAI and IFSCA, provides both direct insurance and reinsurance broking services.
2. Reinsurance Broking: Facilitates placement of reinsurance risks with international markets, earning commissions on treaty and facultative reinsurance placements.
3. Risk Management Advisory Services: Provides risk assessment, enterprise risk management, and advisory services to corporate clients for designing insurance programs.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Unison is an IRDAI-regulated composite insurance broker that intermediates direct and reinsurance coverage between clients and insurers across India. The firm places commercial lines (property, marine, energy, construction, aviation, liability, cyber, trade credit), employer-sponsored group benefits, and personal lines (householder, shopkeeper, health, term life, travel) on behalf of 19,000+ clients, and complements placement with risk management advisory, claims handling, and global insurance programme management services delivered through 12+ regional offices and a GIFT City IFSC office.

Product overview

Unison Insurance Broking Services is a composite insurance broker offering a comprehensive portfolio of insurance and reinsurance solutions organized across multiple product lines. The commercial insurance portfolio includes property coverage (Standard Fire & Special Peril, Industrial All Risk, Mega Risk), specialty lines (Terrorism & Political Violence, Cyber Liability, Directors & Officers), marine insurance (Cargo, Hull, Port Package), energy insurance (Onshore, Offshore), construction insurance (Contractors All Risk, Erection All Risk, Advance Loss of Profit), aviation insurance, and liability coverage (Professional Indemnity, Clinical Trial, Product Liability, Trade Credit). Personal insurance products cover householders, shopkeepers, health, term life, and travel. Employee benefits include group health, personal accident, and term life insurance programs. The service offerings complement the product portfolio with Risk Management (including COPE evaluation and loss prevention), Claim Management, Global Insurance Programme Management, Cyber Risk Assessment, and Reinsurance broking. The overall offering is structured as a full-service insurance intermediary rather than a software platform, providing advisory, placement, and claims servicing across commercial and retail segments.

Differentiator

Problem solved

Functional benefit

Products and services

• Standard Fire & Special Peril Policy Commercial property insurance covering damages caused by fire, lightning, explosion, aircraft damage, riots, strikes, malicious damage, natural calamities, and other specified perils. Designed for corporate and industrial property insurance buyers.
• Industrial All Risk Insurance Comprehensive cover for industrial fixed assets against unforeseen circumstances including fire, explosions, natural calamities, riots, malicious damages, and business interruption. Aimed at manufacturing and industrial insureds.
• Mega Risk Insurance Insurance for large-scale industrial and corporate risks with high sum insured values, tailored for major commercial operations.
• Stand Alone Terrorism & Political Violence Insurance Dedicated cover for terrorism, political violence, sabotage, and related risks as a standalone policy separate from standard property coverage.
• Machinery Breakdown Insurance Cover for sudden and accidental breakdown of machinery and equipment, paying repair or replacement costs. Targeted at industrial and manufacturing plants.
• Electronic Equipment Insurance Insurance for electronic equipment against damage, breakdown, and associated losses.
• Boiler & Pressure Plant Insurance Cover for boilers and pressure vessels against explosions and allied perils, including third-party liability.
• Business Interruption Insurance Cover for loss of revenue and fixed costs resulting from business interruption caused by insured property damage.
• Aviation Insurance Liability and property cover for aircraft including hull, third-party liability, and passenger liability.
• Trade Credit Insurance Protection for sellers against commercial debt non-payment, covering domestic and export receivables.
• Contractors All Risk Insurance (CAR) Comprehensive cover for construction projects protecting contract works against all risks including material damage, third-party liability, and delays. For contractors, project managers, bankers/financiers and employers.
• Erection All Risk Insurance (EAR) Cover for losses during erection and installation of machinery, plant, and steel structures including third-party liability.
• Contractors Plant & Machinery Insurance Insurance for construction equipment and machinery against damages during operation, transit, or maintenance at third-party sites.
• Advance Loss of Profit Insurance (ALOP) Cover for financial losses arising from delays in project completion, particularly relevant to debt-financed construction projects.
• Marine Cargo Insurance for goods in transit via sea, air, truck, or rail against physical loss or damage.
• Marine Hull Insurance for vessels and watercraft against physical damage and associated liabilities.
• Port Package Policy Comprehensive cover for ports and terminals operations including property, liability, and business interruption risks.
• Onshore Energy Policy Insurance for onshore energy operations including refineries, petrochemical plants, and related infrastructure.
• Offshore Energy Policy Insurance for offshore energy operations including oil rigs, platforms, and maritime energy installations.
• Directors & Officers (D&O) Insurance Protection for directors and officers against civil and criminal actions arising from wrongful acts in their professional capacity.
• Commercial General Liability Insurance Cover for bodily injury, personal injury, and property damage caused by business operations or products to third parties.
• Cyber Liability Insurance Cover for expenses and losses from data breaches and cyberattacks, including privacy costs, investigation, regulatory fines, and business interruption.
• Professional Indemnity / Errors & Omissions Insurance Cover for professionals against claims arising from errors, omissions, or negligence in service delivery.
• Clinical Trial Insurance Cover for pharmaceutical and medical research companies conducting clinical trials, covering negligent and non-negligent harm to participants.
• Product Liability & Product Recall Insurance Protection against legal liability arising from product defects causing injury or property damage, including recall costs.
• M&A (Representation & Warranties) Insurance Insurance coverage for M&A transactions protecting against breaches of representations and warranties.
• Crime Insurance Protection against employee theft, forgery, computer fraud, and fraudulent fund transfers.
• Banker's Blanket Bond Insurance Comprehensive cover for banks and financial institutions against losses including infidelity and forgery.
• Jeweller's Block Insurance Specialized cover for jewellers covering stock, showcases, and premises against theft and allied perils.
• Householder's Insurance Insurance for residential properties and household contents against fire, theft, and other perils for individual policyholders.
• Shopkeeper's Insurance Comprehensive cover for small retail businesses including stock, property, and liability.
• Mediclaim & Critical Illness Insurance Health insurance covering medical expenses and critical illness benefits for individuals.
• Term Life Insurance Life insurance providing financial protection for a specified term with death benefit paid to beneficiaries.
• Travel Insurance Cover for travel-related risks including medical emergencies, trip cancellation, and baggage loss.
• Group Health Insurance Corporate health insurance covering employees and their extended families with cashless facility and tailored benefits, administered via the Edge Employee Benefit Portal.
• Group Personal Accident Insurance Cover for accidental death, permanent total/partial disablement, and medical expenses for groups of employees.
• Group Term Life Insurance Life insurance cover for groups of employees providing death benefit protection.
• Employees Deposit Linked Insurance (EDLI) Government-mandated insurance scheme under EPF provisions providing enhanced life insurance benefits to employees.
• Risk Management Advisory Expert risk engineering services including risk assessments, loss prevention, exposure analysis, and COPE evaluation for insurance underwriting purposes. Delivered as a paid advisory service to corporate clients.
• Claim Management End-to-end claims handling including surveyor appointment, documentation, negotiation, and settlement assistance on behalf of clients.
• Global Insurance Programme Management Coordination and administration of multinational insurance programs across multiple jurisdictions for clients with cross-border exposures.
• Cyber Risk Assessment Assessment and advisory services for cyber risks, helping clients understand and mitigate digital threats.
• Reinsurance Broking Reinsurance broking for treaty and facultative placements with domestic and international reinsurers, delivered under Unison's IFSCA IIIO/012/2019-20 registration from GIFT IFSC.

Quantifiable outcome

• Market survey through Avaya Global-Connect rated service at 9.7/10, significantly above industry average.
• +2 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability3 records

Feature3 records

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Marsh India: Indian subsidiary of Marsh McLennan, one of the world's largest insurance brokers. Directly competes with Unison in corporate commercial, specialty, and reinsurance broking across India, with a much larger multinational client base and broader product set.
• Aon India: Indian arm of Aon plc, a global insurance and reinsurance broker. Competes head-to-head with Unison on risk management, commercial broking, and employee benefits for mid-to-large Indian corporates, with deep reinsurance capabilities.
• Willis Towers Watson (WTW) India: India operations of WTW, a global advisory and broking firm. Overlaps with Unison in commercial insurance broking, reinsurance placement, and risk advisory for Indian and multinational corporates operating in India.
• Howden India: India presence of Howden, a global independent insurance broker group. Competes with Unison across commercial and specialty lines for Indian corporates, with growing reinsurance broking capabilities in the region.
• Arthur J. Gallagher (Gallagher India): India operations of Arthur J. Gallagher, a major global insurance broker. Directly comparable to Unison in commercial property, casualty, and reinsurance broking for Indian corporates, with growing mid-market focus.
• J.B. Boda Group: One of India's oldest independent insurance and reinsurance brokers. Closely comparable to Unison as a domestic composite broker with reinsurance expertise, serving similar corporate and industrial client segments across India.
• Prudent Insurance Brokers: Indian direct and reinsurance broker regulated by IRDAI. Comparable to Unison as a composite broker offering commercial, personal, and reinsurance broking, with a similar mid-to-large corporate client focus in India.
• RKS Risk Management: Indian insurance and risk advisory firm. Overlaps with Unison in commercial broking, risk engineering, and employee benefits for Indian corporates, particularly in industrial and infrastructure segments.
• Lockton India: India operations of Lockton, the world's largest independent insurance broker. Directly competes with Unison in commercial and specialty broking, with comparable focus on relationship-led service for mid-to-large Indian corporates.
• Mahindra Insurance Brokers: Subsidiary of Mahindra Group, one of the largest domestic insurance brokers in India by premium volume. Comparable to Unison across commercial, personal, and life insurance distribution, with strong corporate and rural reach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/unisoninsurance.net/?ref=page_internal
• LinkedInlinkedin.com/company/unison-insurance-broking-services-pvt-ltd
• Xx.com/insuranceunison

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Funding overview

Funding rounds

Investors

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 Unison Insurance Broking Services