About us

Worldwide Insurance Brokers ltd. is incorporated in India and was founded in July 2004, as direct insurance broking firm. Our licence was upgraded from direct insurance broking to composing insurance broking in 2014. Our licence is valid till July 2021. We are an independent Re-insurance and insurance risk solution providers. We have the ability and expertise to meet our customer needs and deal with their challenges.

  • We are here to offer free and independent insurance advice.
  • We have a system of differentiation by providing excellent service.
  • We provide authentic and genuine service at every step.
  • We surpass every expectation of the client.
  • We deliver what we commit.
  • We are always positive and thriving on to improve the things.


We fully make sure you are supported from notification of claim until settlement. It is true that making a claim can be a very stressful and difficult time. We take the stress and pressure out of claims.

We provide excellent service at every touch point. We. assist our clients with completing forms and collating the necessary documents and information required to support the claim. We take the complexity out of an otherwise overwhelming process, guiding the client in the right direction.

We lodge the claim with the insurer on the client’s behalf, handling all communication so that the client can focus on running their business or sorting other matters. We will ensure his clients get what they deserve at claim time.

Because we work daily with insurance companies, we have developed strong working relationships with these companies and thus can deal better with them and come to the resolution you deserve.

After a major loss, we make an on-site visit to help assess loss and can also attend meetings with the client when required. We regularly provide claim update status to our clients and provide grievance handling support, whenever required.

We train all our staff to treat each claim as if it were their own loss. Our team works hard to ensure the outcome is as they would expect if it were their own loss. We emphasise personal relationships in our organisation, We pride ourselves on having claims settled fairly and promptly.



An insurance broker is a professional person or a business, applying their knowledge insurance and expertise to help the client find the best insurance for his specific needs.

An insurance broker sells, solicits, or negotiates insurance for compensation.

Insurance brokers play an important role in the Insurance industry by way of helping companies and individuals procure property and casualty (liability) insurance, life insurance and annuities, and accident and health insurance and they act as an intermediary between the policyholders and the insurers. Insurance brokerage firms provide professional and technical advice to their clients about insurance products.

Responsibilities of broker

List of common tasks Insurance Brokers are required to complete is non -exhaustive, some being narrated as follows:

  • Selling different types of insurance policies available.
  • Helping their clients plan their business needs.
  • Identifying insurance companies, negotiating price and placing business.
  • Ensuring all policy requirements are met.
  • Performing administrative tasks, keeping records of all clients, contacting clients when there’s an issue with their payment, keeping records of all transactions; and coordinating policy renewals with insurance companies.
  • Risk management-identifying risk plan out remedial steps and recommending suitable measures for handling contingencies.
  • Handling insurance claims-Collecting information on client and policy coverage, explain coverage to client, assisting their client during the claim process; and monitoring claims to ensure an equitable payment.
  • Inspecting assets /property to determining the state of the property, assessing possible risks and valuation.

Global Scenario

In the United Kingdom

Insurance broker became a regulated term under the Insurance Brokers (Registration) Act 1977[2] which was designed to thwart the bogus practices of firms holding themselves as brokers but in fact acting as representative of one or more favored insurance companies

Insurance brokerage is largely associated with general insurance (car, house etc.) rather than life insurance, although some brokers continued to provide investment and life insurance brokerage until the onset of new regulation in 2001.

In the United States

In the United States, insurance brokers are regulated by the individual U.S. states. Most states require anyone who sells, solicits, or negotiates insurance in that state to obtain an insurance broker license, with certain limited exceptions.

Once licensed, an insurance broker generally must take continuing education courses when their licenses reach a renewal date. For example, the state of California requires license renewals every 2 years, which is accomplished by completing continuing education courses. Most states have reciprocity agreements whereby brokers from one state can become easily licensed in another state. As a result of the federal Gramm-Leach-Bliley Act, most states have adopted uniform licensing laws, with 47 states being deemed reciprocal by the National Association of Insurance Commissioners. A state may revoke, suspend, or refuse to renew an insurance broker's license if at any time the state determines (typically after notice and a hearing) that the broker has engaged in any activity that makes him untrustworthy or incompetent.

In Australia

In Australia, all insurance brokers are required under the Financial Services Reform Act 2001 to be licensed by the federal government’s Australian Securities and Investments Commission (ASIC). Reputable and experienced insurance brokers in Australia will generally also hold additional qualifications such as a certificate or diploma in financial services which requires the completion of in-depth studies in a specific area, the most common being general insurance or insurance brokering.

Within Australia there are also a number of industry bodies that issue professional accreditations to members that comply with best standards of professional practice and integrity and maintain up to date skills and knowledge. The two main accreditations are the ANZIIF CIP (certified insurance professional) and NIBA QPIB (qualified practicing insurance broker) qualifications.


Currently, there are three categories of insurance intermediaries in China:

  • Insurance agents;
  • Insurance brokers (also referred to as insurance brokerage institutions); and
  • Insurance assessment institutions. Insurance agents include
    • Individual insurance agents and
    • Institutional insurance agents. Individual insurance agents can only provide agency services for a rather limited range of insurance products. Institutional insurance agents consist of two categories:
      • Full-time insurance agents, and
      • Part-time insurance agents (e.g., commercial banks and travel agents, which sell insurances to their respective customers in the course of their main line of business). For the purpose of this China guide, the response to all questions relating to insurance agents may not be applicable to individual insurance agents. Each category of insurance intermediaries should meet the respective qualification requirements. Full-time institutional insurance agents should obtain the Insurance Agency Business Operation License issued by the China Insurance Regulatory Commission (CIRC), while part-time institutional insurance agents should obtain the Part-time Insurance Agency License issued by CIRC. Insurance brokers should obtain the Insurance Brokerage Business Operation License issued by CIRC. Insurance assessment institutions were originally required to obtain the Insurance Assessment Business Operation License issued by CIRC, but they are now only required to file a recorded of their insurance assessment business with CIRC or its local counterparts instead of obtaining a license issued by CIRC.

Third-party intermediaries in the market include tied agents who distribute insurance products for insurers that they represent, independent financial advisers and insurance brokers who source insurance products for insureds or policyholders, and banks that enter into bancassurance with selected insurers to distribute the insurers’ products. Entities that distribute or provide advice concerning life products (whether acting on behalf of insurers or policyholders) will need to hold a financial adviser’s license or, if eligible, be registered with the Monetary Authority of Singapore (MAS) as an exempt financial adviser under the Financial Advisers Act (FAA). Insurance brokers who arrange general and long-term accident and health policies for policyholders will need to be registered as an insurance broker with the MAS under the Insurance Act (IA), or if eligible, be registered as an exempt insurance broker. Insurance agents who arrange general insurance products only on behalf of insurers do not need to hold a license but must be registered with the General Insurance Association of Singapore (GIA). Individual representatives who are involved in the sale or advice of insurance products will be subject to minimum qualification and exam requirements depending on the types of insurance involved. These include possessing the Certificate in General Insurance (CGI) qualification (for general insurance), health insurance module conducted by the Singapore College Insurance (for health insurance) and/or Modules 5, 9 and 9A of the Capital Markets and Financial Advisory Services Examination (for life insurance). Exemptions may apply, for example, where a representative confine its sale and advisory activities for life policies only with accredited or institutional investors.


Insurance intermediaries in Japan are broadly classified as insurance agents (persons or companies acting on behalf of a specific insurance company) and insurance brokers (persons or companies not acting on behalf of any insurance company). Insurance agents and insurance brokers both need to be registered with the Financial Services Agency (the FSA). The FSA may reject a registration for reasons such as insolvency, certain criminal record, etc.


Third-party intermediaries include insurance brokers, insurance agents (which also include bancassurance partners) and financial advisers. An insurance agent does not require a license or approval under the Financial Services Act 2013 (FSA), but must be registered with the Persatuan Insurance Am Malaysia (PIAM), for general insurance; and the Life Insurance Association of Malaysia (LIAM), for life insurance. The FSA also provides that any person carrying on an insurance broking business or financial advisory business must be approved by Bank Negara Malaysia (BNM) (i.e., the Central Bank of Malaysia).

Hong Kong

Insurance intermediaries in Hong Kong can be classified into insurance agents and insurance brokers. Currently, the insurance intermediary regime is self-regulated. Insurance agents need to be registered with the Insurance Agents Registration Board, and insurance brokers need to be registered with the Hong Kong Confederation of Insurance Brokers or the Professional Insurance Brokers Association. A new statutory regime on intermediary is expected to be in force by 2019, under which the Insurance Authority will take over the regulation of insurance intermediaries from the three self-regulatory bodies.

In India

All insurance intermediaries (including insurance brokers) are subject to the regulations issued by the IRDAI. Insurance intermediaries are required to be licensed/registered in accordance with the applicable regulations for that form of intermediary and are required to comply with, inter alia, the specific code of conduct prescribed by the IRDAI. Only licensed/registered insurance intermediaries are permitted to distribute insurance products for Indian insurers.

Insurance Regulatory Authority was established as an Interim Regulator in 1996 and became a full-fledged statutory Insurance Regulatory and Development Authority (IRDA) in 1999 with the passing of IRDA Act of 1999 on 19th April 1999.

Thereafter, IRDA enacted various Rules and Regulations and ushered in reforms in insurance sector. One of them is the Insurance Regulatory and Development Authority (Insurance Brokers) Regulations, 2002 w.e.f. 16.10.2002. These regulations were revised in 2013 and subsequently again in 2018 for better supervising and monitoring the brokers at par with international standards.

As on 30.6.18, 433 Insurance Brokers have obtained licence from IRDA and have started their broking operations

Categories of Insurance Brokers

Direct Broker (Life or General or Life and General) means an Insurance Broker, registered by the Authority, who for a remuneration and/or a Fee, solicits and arranges insurance business for its clients with insurers located in India and/or provides claims consultancy, Risk Management services or other similar services, permitted under these regulations.

Reinsurance Broker (Life or General) means an Insurance Broker, registered by the Authority who for a remuneration and/or a Fee, solicits and arranges re-insurance for its clients with insurers and/or reinsurers located in India and/or abroad; and/or provides claims consultancy, Risk Management services or other similar services, permitted under these regulations.

Composite Broker (Life and/or General + Reinsurance) means an Insurance Broker, registered by the Authority who for a remuneration and/or a fee, solicits and arranges insurance and/or re-insurance for its clients with insurers and/or reinsurers located in India and/or abroad; and/or provides claims consultancy, Risk Management services or other similar services, permitted under these regulations.

Functions of a Broker

  • Functions of a direct broker- The functions of a direct broker shall include the following:
    • Obtaining detailed information of the client's business and risk management philosophy;
    • Familiarizing himself with the client's business and underwriting information so that this can be explained to an insurer and others;
    • Rendering advice on appropriate insurance cover and terms;
    • Maintaining detailed knowledge of available insurance markets, as may be applicable;
    • Submitting quotation received from insurer/s for consideration of a client;
    • Providing requisite underwriting information as required by an insurer in assessing the risk to decide pricing terms and conditions for cover;
    • Acting promptly on instructions from a client and providing him written acknowledgements and progress reports;
    • Assisting clients in paying premium under section 64VB of Insurance Act, 1938 (4 of 1938);
    • Assisting in the negotiation of the claims;
    • Maintaining proper records of claims;
    • Assisting in opening of e-insurance accounts;
    • Assisting in issuing e-insurance policies; and
    • Any other function which the Authority may specify
  • Functions of a re-insurance broker
    • Familiarizing himself with the client’s business and risk retention philosophy;
    • Maintaining clear records of the insurer's business to assist the reinsurer(s) or others;
    • Rendering advice based on technical data on the reinsurance covers available in the international insurance and the reinsurance markets;
    • Maintaining a database of available reinsurance markets, including solvency ratings of individual reinsurers;
    • Rendering consultancy and risk management services for reinsurance;
    • Selecting and recommending a reinsurer or a group of reinsurers;
    • Negotiating with a reinsurer on the client’s behalf;
    • Assisting in case of commutation of reinsurance contracts placed with them;
    • Acting promptly on instructions from a client and providing it written acknowledgements and progress reports;
    • Collecting and remitting premiums and claims within such time as agreed upon;
    • Assisting in the negotiation and settlement of claims;
    • Maintaining proper records of claims;
    • Exercising due care and diligence at the time of selection of reinsurers and international insurance brokers having regard to their respective security rating and establishing respective responsibilities at the time of engaging their services;
    • Creation of market capacity and facility for new, stressed, emerging and existing business and asset class for and from both direct insurers and reinsurers;
    • Render preliminary loss advice (PLA) within reasonable time;
    • Given the nature of business, separate norms need to be followed for Inward and Outward business.
      • Inward business
        • Broker to have adequate specific knowledge of the country whose business is being offered like political stability, economic position, local regulations, tax laws, etc.
        • Introduce new business/ products depending on the reinsurers business plan and risk appetite
      • Outward business
        • Rating and market credibility of the reinsurer
    • To ensure prompt collection and remittance of funds, follow up for funds to be initiated sufficiently before the due dates for settlement from cedant to reinsurer and from reinsurer to decant as relevant;
  • Functions of composite broker- A composite broker shall carry out the functions both of insurance broker and reinsurance broker.

Did You know?

General Insurance Premium of India in 2017-18 was INR 150661CR Out of which INR 33442 CR was procured through insurance brokers Thus contribution of brokers in% was 22.19 which shows the trust of People in brokers is increasing.

How can one check if his insurance broker is authorised?

As per IRDAI regulations, no insurance broker can do business without holding a valid certificate of registration. Criminal proceedings may be initiated against any person, who acts as an insurance broker without holding a valid certificate of registration.

Where the person , is a company or firm or body corporate, without prejudice to any other proceedings action may be initiated by the Authority against such company or firm or body corporate; every director, manager, secretary or other officer of the company or body corporate, and every partner of the firm, who is knowingly a party to such a contravention shall also be liable to a penalty which may extend to ten lakh rupees.

Thus, it is highly unlikely that a broker will be trading without authority. If you do wish to check, for whatever reason, you can do so online by visiting IRDA SITE https://www.irdai.gov.in-Iintermediary-brokers-list of brokers.

Why a Customer should choose us as His Broker?

We work for the customer, not for insurers. You can choose us because:-

  • We are a reg istered insurance broker and meet the statutory requirements.
  • We are an independent accredited insurance broker and guarantee service beyond expectations.
  • We offer products that are reasonably priced and of good quality and also customise them as per needs.
  • We are easily accessible.
  • The internal company processes is 100%paperless.
  • The entire workforce is well trained, both in terms of content and information communication tools.
  • We provide human guidance at every step in the after -care following a claim.
  • Our team will guide you through the documentation required to make claim intimation and make the claims process as much hassle free as possible. One-stop solution provider for all your insurance needs.
  • We are one-stop solution provider for all your insurance needs.

We are the broker of the future and and going to act as a person of trust and advisor.

Thanks for sparing your valuable time to learn about our broking firm.

Please feel free to contact us any time.