Riskbirbal

What Riskbirbal does

Riskbirbal Insurance Brokers Pvt Ltd is an India-based, IRDAI-licensed Direct Insurance Broker (License No. 896, Life & General), headquartered in New Delhi and incorporated in 2022. The company operates a technology-enabled insurance distribution platform serving retail individuals, small and medium businesses, and corporate clients across India. It offers brokerage services across a comprehensive product set spanning retail lines (car, bike, health, life insurance) and corporate lines (fire, marine, liability, aviation, event, employee benefits, hull, parametric, and rural insurance), alongside specialty offerings such as engineering insurance (EnggiSure) and group personal accident and term life coverage. The company distinguishes itself by claiming to be India's first insurance broker to provide online quotations for all insurance policies via its CRM-enabled self-serve platform at riskbirbalms.com.

The company's proprietary technology stack centers on three platforms: RiskMantra, an AI-powered risk management solution for proactive threat identification and mitigation; WellConnect, an employee health and benefits management platform with HRMS integration, operated through subsidiary Riskbirbal Management Services Pvt Ltd and launched in May 2024; and an online quotation management system with ERP integration capabilities. Supporting services include free fixed asset valuation, risk inspection (fire, electrical, chemical safety audits), and an Elite Member Program (EP3). Distribution is hybrid: dedicated relationship managers for corporate accounts, a POSP (Point of Sale Person) agent network for retail reach, and a digital self-serve channel. The company claims 10,000+ customers and thousands of reviews.

Riskbirbal's revenue model is primarily commission-based, earning fees from insurance company partners for placing retail and corporate policies under its IRDAI broker license. A secondary, nascent revenue stream is subscription or managed-service income from the WellConnect platform operated by Riskbirbal Management Services Pvt Ltd. The company is bootstrapped (no external funding disclosed) and founder-led, with Syed Meraj Naqvi as Founder, Chairman, and CEO (15+ years insurance experience) and Mukesh Jairath as Director. Operations are confined to the Indian market.

Name

Riskbirbal

Legal name

Riskbirbal Insurance Brokers Pvt Ltd

Website

https://riskbirbal.com

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

11–50 employees

Short description

Riskbirbal is an IRDAI-licensed Indian insurance broker (License No. 896) offering technology-enabled brokerage across retail, SMB, and corporate lines via a digital quotation platform, POSP agent network, and direct sales. It serves 10,000+ customers with proprietary platforms including RiskMantra (AI risk management) and WellConnect (HRMS-integrated employee benefits).

Ownership category

akta.pro rank

Product category

Insurance Brokerage

NAICS

Insurance Agencies and Brokerages (524210), Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

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

akta.pro secondary industries

Retail (Personal Lines) Insurance Brokerage (FSAEADAA), Risk Management Consulting (Enterprise & Operational Risk) (FSAEADAG)

Keywords

• Insurance brokerage
• Risk management
• Corporate insurance
• Retail insurance
• Employee benefits

Headquarters

HQ city

New Delhi

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance Brokerage Commissions: Riskbirbal earns commissions from insurance companies for placing insurance policies on behalf of clients. As a licensed Direct Broker (Life & General) with IRDAI registration number 896, the company acts as an intermediary between insurance buyers and insurers, earning commission-based revenue from both retail and corporate insurance lines including motor, health, life, fire, marine, liability, and specialty insurance products.
2. Technology & Platform Services: Revenue is generated through technology-enabled services including the WellConnect employee benefits management platform, RiskMantra risk management tools, and CRM-based portfolio management. WellConnect is operated by Riskbirbal Management Services Pvt Ltd, suggesting a SaaS/platform service revenue stream for employee benefit policy management.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Riskbirbal is an IRDAI-licensed direct insurance broker (License No. 896) founded in 2022, offering retail and corporate life and general insurance products in India. The company delivers insurance brokerage services supported by proprietary technology platforms including RiskMantra for AI-driven risk management and WellConnect for HRMS-integrated employee benefits administration, and also provides assets valuation and risk inspection services.

Product overview

Riskbirbal is an IRDAI-licensed insurance broker (License No. 896, Direct Broker Life & General) headquartered in Delhi, India. The company operates as a technology-enabled insurance distribution platform offering both retail and corporate insurance products. Its core product portfolio centers on three main platforms: RiskMantra (AI-powered risk management), WellConnect (employee health and benefits management), and an online Insurance Policies quotation system (India's first broker to offer online quotes for all policies). Supporting services include Assets Valuation, Risk Inspection, Elite Member Program (EP3), EnggiSure, and Portfolio Management & CRM. The company offers comprehensive insurance product categories including retail products (car, bike, health, life insurance) and corporate products (fire, marine, liability, aviation, event, employee benefits, hull, parametric, and rural insurance), along with specialized liability, property, and motor insurance products.

Differentiator

Problem solved

Functional benefit

Brands

• RiskMantra: AI-based risk management solution for proactive threat identification and mitigation
• WellConnect
• EnggiSure

Products and services

• Riskbirbal Insurance Brokerage Services
• RiskMantra
• WellConnect
• Group Personal Accident Insurance
• Group Term Life Insurance
• EnggiSure
• Assets Valuation Services
• Risk Inspection Services On-site risk inspection and assessment services conducted for corporate clients to evaluate property, operational, and insurance risk exposures.
• Elite Member Program (EP3)
• Online Insurance Quotation System

Quantifiable outcome

• Trusted by 10,000+ customers with thousands of unbiased reviews

Named customers9 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability2 records

Feature6 records

Partnerships

Three partnerships are on record, tiered core.

• WellConnect (Riskbirbal Management Services Pvt Ltd)coreTechnology or Integration · 1 May 2024WellConnect is an application designed for managing employee benefit policies, operated by Riskbirbal Management Services Pvt Ltd. It consolidates health insurance information and integrates with HRMS (Human Resource Management Systems) of corporate clients. Launched in May 2024, WellConnect enables seamless employee health benefits administration by integrating insurance data with HRMS platforms, allowing HR teams to manage group mediclaim and employee benefits efficiently.
• General Insurance Company PartnerscoreChannel Partner/ Reseller/ DistributorRiskbirbal partners with all leading general insurance companies in India to offer a comprehensive range of non-life/property and casualty insurance products including motor, health, fire, marine, liability, aviation, and specialty insurance lines. The company acts as a licensed Direct Broker (Life & General) placing policies with these insurer partners.
• Life Insurance Company PartnerscoreChannel Partner/ Reseller/ DistributorRiskbirbal partners with leading life insurance companies to offer an extensive array of life insurance policies personalized to individual needs and financial goals. As risk specialists, the company works with top life insurers to provide the best life insurance policies satisfying customer requirements.

Scale indicators4 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• RenewBuy: Online insurance broker in India offering motor, health, and life policies with digital comparison; comparable to Riskbirbal in product breadth and self-serve digital GTM.
• Policybazaar: India's largest online insurance aggregator and broker; directly competes with Riskbirbal in multi-line retail and increasingly corporate insurance comparison and online quotation, but at vastly larger scale and brand recognition.
• InsuranceDekho: Insurance brokerage platform operating across motor, health, life, and corporate lines in India with online quotation; competes head-on with Riskbirbal's hybrid digital-plus-POSP distribution model.
• OneAssure: Tech-enabled insurance broker in India focused on life and health distribution with online tools; overlaps with Riskbirbal's retail life/health proposition and digital capabilities.
• Coverfox Insurance: Digital-first insurance broker offering multi-line comparison and online policy purchase in India; directly comparable to Riskbirbal's online quotation platform and retail brokerage focus.

Broad incumbents

• Marsh India: Global corporate insurance broker and risk advisor with a substantial India presence; directly comparable to Riskbirbal's corporate fire, marine, liability, and specialty brokerage practice, but at much larger scale.
• Digit Insurance: Tech-driven general insurer operating direct and partner channels in India; a key insurer partner for Riskbirbal whose direct D2C push could disintermediate broker-led distribution.
• Mahindra Insurance Brokers: Established Indian composite insurance broker serving corporate and retail clients; comparable to Riskbirbal across multi-line brokerage but with deeper enterprise relationships and longer track record.
• Howden Insurance Brokers (India): Global insurance broker expanding its India footprint; competes with Riskbirbal in corporate and specialty lines (liability, aviation, marine) where international placement capability matters.

Emerging players

• Acko General Insurance: Digital-first insurer and distributor that increasingly bypasses traditional brokers; competes indirectly with Riskbirbal by selling direct-to-consumer online, squeezing broker commission pools.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/RiskBirbal
• Facebookfacebook.com/riskbirbal
• LinkedInlinkedin.com/company/riskbirbal-insurance-brokers

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

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 Riskbirbal