JAGAD INSURANCE
JAGAD INSURANCE is a family-owned insurance agency in Surat, India, distributing health, travel, motor, life and general insurance plus mutual funds from ten Indian carriers via field sales, a website and an Android app, with a stated goal to become Surat's most trusted "Insurance Icon" by 2030.
- Company typePrivate
- Founded1998
- HeadquartersSurat, India
- Headcount1–10
- GTM typeB2C
- OfferingServices
What JAGAD INSURANCE does
JAGAD INSURANCE is a privately held, family-run insurance agency headquartered in Surat, Gujarat, India, operating since 24 March 1998 under founder Dr. Jitendra D Jagad. The firm distributes insurance and investment products from ten partner Indian carriers — LIC, New India Assurance, Bajaj Allianz, Max Bupa, IFFCO Tokio, HDFC ERGO, ICICI Lombard, Royal Sundaram, Bharti AXA and Tata AIG — across health, travel, motor, life and general insurance, and additionally distributes mutual funds. The technology footprint is intentionally lean: a corporate website with quote intake and policy-reminder forms, and a custom Android app published on the Google Play Store for client self-service. No API, SDK or AI capability is disclosed.
The business model is pure insurance intermediation, earning transaction-based commissions on policies placed. Distribution is omnichannel but localized — field sales representatives who visit customers at homes and offices in Surat, walk-in traffic at the Katargam headquarters and Dabholi home office, an online quote funnel, and the mobile app. Pricing is bespoke per risk, with no published rate cards; the agency does not carry balance sheet risk and does not underwrite. The primary customer segment is individual Surat households seeking personal and family protection; a secondary segment comprises local manufacturing and business clients requiring workmen compensation, group and property cover.
Operationally the firm is micro-scaled, with approximately seven employees including two additional family members (Vivek Jagad, Hasti Jagad). There is no external funding, no parent entity, no subsidiaries, no M&A activity, and no public reporting. The stated "Big Hairy Audacious Goal" is to become the most trusted "Insurance Icon" in Surat by 2030, which signals depth-over-breadth positioning rather than geographic or segment expansion. The licensing, regulatory and scale profile place it firmly in the small-Indian-insurance-intermediary category, dependent on carrier commission schedules and subject to IRDA broker/agent regulation.
JAGAD INSURANCE firmographics
Firmographics- Name
- JAGAD INSURANCE
- Legal name
- Jagad Insurance
- Website
- https://jagadinsurance.com
- Company type
- Private
- Founded year
- 1998
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- JAGAD INSURANCE is a family-owned insurance agency in Surat, India, distributing health, travel, motor, life and general insurance plus mutual funds from ten Indian carriers via field sales, a website and an Android app, with a stated goal to become Surat's most trusted "Insurance Icon" by 2030.
- Ownership category
- akta.pro rank
JAGAD INSURANCE industry classification
Industry- Product category
- Insurance Brokerage and Distribution
- NAICS
- Agencies, Brokerages, and Other Insurance Related Activities (5242), Insurance Agencies and Brokerages (524210)
- SIC
- Insurance Agents, Brokers & Service (6411)
- akta.pro primary industry
- Retail (Personal Lines) Insurance Brokerage (FSAEADAA)
- akta.pro secondary industry
- Specialty Insurance Brokerage (Marine, Aviation, Cyber, Professional Lines) (FSAEADAJ)
Keywords
Where JAGAD INSURANCE is headquartered
LocationHeadquarters
- HQ city
- Surat
- HQ country
- India
- HQ region
- Asia
Offices2 records
Markets served
JAGAD INSURANCE business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Insurance Brokerage/Agency Commissions: JAGAD Insurance operates as an insurance intermediary, earning commissions from partnered insurance companies (LIC, New India, Bajaj, Max Bhupa, IFFCO, HDFC Ergo, ICICI, Royal Sundaram, Bharti Axa, Tata) for policies sold across health, travel, motor, life, and general insurance categories. The company also offers mutual fund distribution services.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Annual | Custom quote-based pricing |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels3 records
JAGAD INSURANCE product offering
Product offeringCore offering
JAGAD Insurance is an insurance agency and mutual fund distributor that intermediates policies from ten Indian insurers (LIC, New India, Bajaj Allianz, Max Bupa, IFFCO Tokio, HDFC ERGO, ICICI Lombard, Royal Sundaram, Bharti AXA, Tata AIG) across health, travel, motor, life, and general insurance categories. It provides advisory support from policy issuance through claim settlement and offers a custom Android app plus website for online quote requests and renewal reminders. The firm does not underwrite risk itself; it earns commissions by placing customers with carrier partners.
Product overview
JAGAD Insurance is an insurance agency offering a portfolio of insurance and financial products. The company provides Health Insurance, Travel Insurance, Motor Insurance, Life Insurance, General Insurance (including fire, personal accident, workmen compensation, marine, cyber security, and jeweller's block policies), and Mutual Funds. The services are delivered through a combination of online platforms (website, mobile app) and direct agency support, covering insurance advisory, policy issuance, and claims settlement.
Differentiator
Problem solved
Functional benefit
Products and services
- Health Insurance Health insurance policy providing financial protection against sudden illnesses, accidental injuries, and medical emergencies, covering hospitalization and medicinal expenses for individuals and families.
- Travel Insurance Travel insurance providing coverage for ill health, lost baggage, lost passport or documents, flight delay or cancellation, and hijack during personal or business trips.
- Motor Insurance Vehicle insurance protecting cars and two-wheelers against accidents, fire, theft, and third-party liability, with 24/7 assistance and cashless garage network.
- Life Insurance Life insurance providing financial security for family after death, covering funeral costs, medical bills, and ongoing expenses such as mortgage, daycare, and college funds.
- General Insurance Non-life insurance covering fire, personal accident, workmen compensation, marine, cyber security, and jeweller's block policies against unforeseen losses and damages for individuals and businesses.
- Mutual Funds Professionally-managed pooled investment vehicles investing in stocks, bonds, money market instruments, and commodities, distributed by JAGAD Insurance for clients' investment needs.
Companies that use JAGAD INSURANCE
Customer profileSegments2 records
Ideal customer profiles2 records
JAGAD INSURANCE technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
JAGAD INSURANCE partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered core and minor.
- LIC (Life Insurance Corporation of India)coreLIC is one of the insurance partners whose products are distributed by JAGAD Insurance. The company offers LIC life insurance policies as part of their product portfolio.
- New India AssurancecoreNew India Assurance is a partnered insurance provider whose general and other insurance products are distributed through JAGAD Insurance.
- Bajaj AllianzcoreBajaj Allianz insurance products including health, motor, and general insurance are offered through JAGAD Insurance's distribution network.
- Max Bupa Health InsurancecoreMax Bupa health insurance products are distributed by JAGAD Insurance as part of their health insurance offerings.
- IFFCO Tokio General InsurancecoreIFFCO Tokio general insurance products are offered through JAGAD Insurance's distribution network.
- HDFC ERGO General InsurancecoreHDFC ERGO insurance products including health, motor, and general insurance are distributed by JAGAD Insurance.
- ICICI Lombard General InsurancecoreICICI Lombard general insurance products are offered through JAGAD Insurance's sales channels.
- Royal Sundaram General InsuranceminorRoyal Sundaram general insurance products are part of JAGAD Insurance's partner portfolio.
- Bharti Axa General InsuranceminorBharti Axa insurance products are distributed by JAGAD Insurance.
- Tata AIG General InsuranceminorTata AIG general insurance products are offered through JAGAD Insurance's distribution network.
Scale indicators2 records
Recent moves4 records
JAGAD INSURANCE competitors and assessment
Company assessmentEmerging players
- Acko General Insurance: Direct-to-consumer digital insurer bypassing traditional agents in motor, health, and travel. Represents the disintermediation threat facing small traditional agencies like Jagad.
- InsuranceDekho (by CarDekho): Digital insurance aggregator offering multi-carrier comparison and online policy issuance across motor, health, life, and general insurance. Directly competes with Jagad for online-first customers in tier-2 Indian markets.
- Turtlemint: Insurtech platform empowering a network of POSPs (Point of Sale Persons) to sell insurance digitally. Conceptually comparable to Jagad's agent-led retail distribution but with a technology and training backbone.
- Digit Insurance: New-age Indian insurer selling directly online across motor, health, travel, and other lines. Competes with Jagad for digitally inclined retail customers in Surat.
- PolicyBazaar (PB Fintech): India's largest online insurance aggregator enabling consumers to compare and purchase health, motor, life, and general insurance across multiple carriers. Jagad competes with PolicyBazaar for the same individual and small-business insurance customers in Surat.
- Coverfox (by Coverstack): Online insurance broker distributing health, motor, and life products from multiple insurers. Comparable to Jagad's multi-carrier distribution model but with a national, technology-led approach.
Broad incumbents
- Marsh India Insurance Brokers: Large international insurance broker with India operations serving corporate and commercial clients. Comparable to Jagad as a multi-line insurance intermediary, but operating at a much larger, commercial scale.
- HDFC ERGO General Insurance: Major Indian general insurer with multi-line products and a direct digital platform. One of Jagad's carrier partners, but its own direct distribution competes with the agency for Surat customers.
- ICICI Lombard General Insurance: Large Indian general insurer with its own direct sales, bancassurance, and digital channels. Jagad distributes ICICI Lombard products, but the insurer's growing direct channel competes for the same retail customers.
- LIC of India: India's dominant life insurer with an enormous captive agent network. Jagad is also an LIC distribution partner, but LIC's own direct agents and digital channels partially overlap with the customer base Jagad serves.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat2 records
Key risks6 records
Key highlights5 records
Customer concentration
JAGAD INSURANCE social profiles
Digital presenceJAGAD INSURANCE financial estimates
Financial estimateRevenue estimate
Valuation estimate
JAGAD INSURANCE leadership team
Management profileNumber of profiles
Profiles3 records
JAGAD INSURANCE funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
JAGAD INSURANCE M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about JAGAD INSURANCE
What does JAGAD INSURANCE do?
JAGAD Insurance is an insurance agency and mutual fund distributor that intermediates policies from ten Indian insurers (LIC, New India, Bajaj Allianz, Max Bupa, IFFCO Tokio, HDFC ERGO, ICICI Lombard, Royal Sundaram, Bharti AXA, Tata AIG) across health, travel, motor, life, and general insurance categories. It provides advisory support from policy issuance through claim settlement and offers a custom Android app plus website for online quote requests and renewal reminders. The firm does not underwrite risk itself; it earns commissions by placing customers with carrier partners.
Is JAGAD INSURANCE a public or private company?
JAGAD INSURANCE is a private company. It is classified as family owned and is currently operating.
When was JAGAD INSURANCE founded?
JAGAD INSURANCE was founded in 1998. It employs 1 to 10 people.
Where is JAGAD INSURANCE based?
JAGAD INSURANCE is headquartered in Surat, India, in the Asia region.
How does JAGAD INSURANCE make money?
One revenue line is on record: insurance Brokerage/Agency Commissions.
Who are JAGAD INSURANCE's main competitors?
Emerging players on record are Acko General Insurance, InsuranceDekho (by CarDekho), Turtlemint, Digit Insurance, PolicyBazaar (PB Fintech) and Coverfox (by Coverstack). Broad incumbents are Marsh India Insurance Brokers, HDFC ERGO General Insurance, ICICI Lombard General Insurance and LIC of India.
Does JAGAD INSURANCE have an API?
No public API is recorded for JAGAD INSURANCE.
What industry is JAGAD INSURANCE in?
JAGAD INSURANCE's product category is Insurance Brokerage and Distribution. Its primary akta.pro industry code is FSAEADAA, Retail (Personal Lines) Insurance Brokerage, with a secondary code of FSAEADAJ, Specialty Insurance Brokerage (Marine, Aviation, Cyber, Professional Lines). Its NAICS code is 5242 and its SIC code is 6411.