We offer Comprehensive Assessment of Insurance Needs and Management of Insurance Portfolios.

SERVICES

6 Reasons to Trust Us.

Gap Analysis

Gap Analysis

Ethika’s insurance broking service is aimed at designing a comprehensive policy which covers all possible risks. The first step in obviously Gap Analysis, finding out the gap between what is actually covered and what you think is covered. More importantly, what should be covered?

To answer this question, we conduct an extensive risk profiling, which includes listing and mapping your company’s business processes and identifying areas of loss exposure. These exposures are then mapped against your existing insurance coverage to identify the gaps where your existing coverage may not adequately protect all your risks. In simple terms we check whether you are under insured.

We also check if you are insured only for risk transfer. Can such insurance be avoided or reduced? Can the risk be limited through risk mitigation? Are you insured only because there exists an insurance product or do you really need it? In other words we check whether you are over insured.

Effectively, gap analysis helps us cover the range of risks and also assess the current insurance products you have and your actual risks before presenting you with a comprehensive policy best suited to your individual needs..

Personalised Claim Assistance

Personalised Claim Assistance

Ethika believes in ‘serve to care and serve with compassion’. We are sensitive to claimant’s losses and his expectations from an insurer. Our exposure to diverse cases of claims redressal has shown us that each claim is unique in terms of conditions and requirements.

We therefore provide our clients with personalised claim assistance and claim management services to manage all service requirements and claims. Through this service, in addition to advising you on the best way to proceed with your claim in order to achieve a prompt and fair settlement, we also provide assistance in making a full claim and guiding you every step of the way from intimation to settlement.

Risk Mitigation

Risk Mitigation

Often, insurance is not the only way to counter risk. At Ethika, we advise and encourage risk mitigation as a proactive technique to avoid the risk. An effective risk management technique, risk mitigation involves taking systematic steps to enhance the opportunity and reduce the threats or/and the likelihood of their occurrence.

Take the example of a biotech company, where profitability is driven by its field sales staff. A high rate of attrition in sales team will significantly impact the sales (revenue), and therefore the stock carrying cost (variable cost), market visibility (intangible cost) and cause recurring hiring and training costs. Risk mitigation would involve assessing the cause of high rate of attrition and working to bring it down, thereby managing the risk of loss of revenue and increase in cost while also boosting the company’s stability and goodwill.

By identifying the areas where risk can be mitigated, Ethika not only assesses risk impact but also provides a prioritised risk analysis and risk mitigation plan. We also extend our expertise to continuously monitor and track the plan’s implementation, with reassessment at regular intervals. These reassessments help identify changes in existing risks and new risk events so as to restructure the risk mitigation plan to deal with them effectively.

Competitive Premium and Appropriate Clauses

Competitive Premium and Appropriate Clauses

Insurance is a competitive industry in which several factors need to be taken into account. Ethika’s adherence to a strong control system enables us to deliver accurate and exceptional service. We have put together a dedicated team of experts with insurance experience and in-depth knowledge of current market conditions, well versed with each insurer’s strengths in coverage and service. This enables us to select the strongest insurance underwriter in terms of coverage and commitment delivery for our client’s needs.

At the same time, we also engage in aggressive negotiations on behalf of our clients for comprehensive coverage to fetch the most competitive premium for them. We also extend ourselves beyond the coverage negotiations, to scrutinize the issued policy, checking the adherence of proposal sent to insurance underwriter and ensure that no fine print inclusions have been made which jeopardise our clients’ interests. To this end, we follow a comprehensive check list to scrutinise the policy ensuring all clauses have been included and all details are appropriately filled.

Red Carpet Service

Red Carpet Service

Businesses and businessmen are legally separate entities. While one may be insured against risk in business, personal coverage is also equally important for a balanced, fulfilling life.

At Ethika, we consider personal insurance products to be as important as business insurance products. Hence, our exclusive Red Carpet Service is tailored to meet the expectations of personal policies.

As part of this service, we arrange for personal consultations with our clients, and a complete gap analysis followed by comprehensive discussion on suitable insurance plans and their benefits. As part of our Red Carpet Service, such consultations can take place in the comfort of your home, where the entire process of form filling, premium payment and policy scrutiny and delivery is conducted by a customer relationship manager, personally assigned to you and your family.

The service also includes reminders regarding policy renewals, reanalysis of needs and personal claims and settlement assistance in your time of need.

Renewals

Renewals

Insurance renewals are not about simply repeating the same. Before a policy is renewed it is important to check whether the level of cover is required, if it needs any changes, if any further disclosures must be made or the policy is no longer needed.

Ethika’s renewal services cover a complete review of your renewal requirements. We discuss changes you wish to make to your policy every year and then push ourselves to cross our own bench marks, working with updates and new industry rates to offer you best price, coverage and service. Our renewals service includes:

  • A reminder system for renewals to enable advance preparation and negotiations
  • Comprehensive checks for changes to product disclosure statement
  • Re-evaluation of needs to avoid under insurance or redundant insurance hidden in the comprehensive cover
  • Updates and new industry rates to offer you best price, coverage and service.

Gap Analysis

Ethika’s insurance broking service is aimed at designing a comprehensive policy which covers all possible risks. The first step in obviously Gap Analysis, finding out the gap between what is actually covered and what you think is covered. More importantly, what should be covered?

To answer this question, we conduct an extensive risk profiling, which includes listing and mapping your company’s business processes and identifying areas of loss exposure. These exposures are then mapped against your existing insurance coverage to identify the gaps where your existing coverage may not adequately protect all your risks. In simple terms we check whether you are under insured.

We also check if you are insured only for risk transfer. Can such insurance be avoided or reduced? Can the risk be limited through risk mitigation? Are you insured only because there exists an insurance product or do you really need it? In other words we check whether you are over insured.

Effectively, gap analysis helps us cover the range of risks and also assess the current insurance products you have and your actual risks before presenting you with a comprehensive policy best suited to your individual needs..

Personalised Claim Assistance

Ethika believes in ‘serve to care and serve with compassion’. We are sensitive to claimant’s losses and his expectations from an insurer. Our exposure to diverse cases of claims redressal has shown us that each claim is unique in terms of conditions and requirements.

We therefore provide our clients with personalised claim assistance and claim management services to manage all service requirements and claims. Through this service, in addition to advising you on the best way to proceed with your claim in order to achieve a prompt and fair settlement, we also provide assistance in making a full claim and guiding you every step of the way from intimation to settlement.

Competitive Premium and Appropriate Clauses

Insurance is a competitive industry in which several factors need to be taken into account. Ethika’s adherence to a strong control system enables us to deliver accurate and exceptional service. We have put together a dedicated team of experts with insurance experience and in-depth knowledge of current market conditions, well versed with each insurer’s strengths in coverage and service. This enables us to select the strongest insurance underwriter in terms of coverage and commitment delivery for our client’s needs.

At the same time, we also engage in aggressive negotiations on behalf of our clients for comprehensive coverage to fetch the most competitive premium for them. We also extend ourselves beyond the coverage negotiations, to scrutinize the issued policy, checking the adherence of proposal sent to insurance underwriter and ensure that no fine print inclusions have been made which jeopardise our clients’ interests. To this end, we follow a comprehensive check list to scrutinise the policy ensuring all clauses have been included and all details are appropriately filled.

Risk Mitigation

Often, insurance is not the only way to counter risk. At Ethika, we advise and encourage risk mitigation as a proactive technique to avoid the risk. An effective risk management technique, risk mitigation involves taking systematic steps to enhance the opportunity and reduce the threats or/and the likelihood of their occurrence.

Take the example of a biotech company, where profitability is driven by its field sales staff. A high rate of attrition in sales team will significantly impact the sales (revenue), and therefore the stock carrying cost (variable cost), market visibility (intangible cost) and cause recurring hiring and training costs. Risk mitigation would involve assessing the cause of high rate of attrition and working to bring it down, thereby managing the risk of loss of revenue and increase in cost while also boosting the company’s stability and goodwill.

By identifying the areas where risk can be mitigated, Ethika not only assesses risk impact but also provides a prioritised risk analysis and risk mitigation plan. We also extend our expertise to continuously monitor and track the plan’s implementation, with reassessment at regular intervals. These reassessments help identify changes in existing risks and new risk events so as to restructure the risk mitigation plan to deal with them effectively.

Red Carpet Service

Businesses and businessmen are legally separate entities. While one may be insured against risk in business, personal coverage is also equally important for a balanced, fulfilling life.

At Ethika, we consider personal insurance products to be as important as business insurance products. Hence, our exclusive Red Carpet Service is tailored to meet the expectations of personal policies.

As part of this service, we arrange for personal consultations with our clients, and a complete gap analysis followed by comprehensive discussion on suitable insurance plans and their benefits. As part of our Red Carpet Service, such consultations can take place in the comfort of your home, where the entire process of form filling, premium payment and policy scrutiny and delivery is conducted by a customer relationship manager, personally assigned to you and your family.

The service also includes reminders regarding policy renewals, reanalysis of needs and personal claims and settlement assistance in your time of need.

Renewals

Insurance renewals are not about simply repeating the same. Before a policy is renewed it is important to check whether the level of cover is required, if it needs any changes, if any further disclosures must be made or the policy is no longer needed.

Ethika’s renewal services cover a complete review of your renewal requirements. We discuss changes you wish to make to your policy every year and then push ourselves to cross our own bench marks, working with updates and new industry rates to offer you best price, coverage and service. Our renewals service includes:

  • A reminder system for renewals to enable advance preparation and negotiations
  • Comprehensive checks for changes to product disclosure statement
  • Re-evaluation of needs to avoid under insurance or redundant insurance hidden in the comprehensive cover
  • Updates and new industry rates to offer you best price, coverage and service.
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