10 Years of Ethika Insurance Broking: How They Mastered the Art of Claims Support

Ethika Insurance Broking Marks a Decade of IRDAI Licensing, Surpassing 2 Lakh Lives Covered and 50,000 Claims Assisted. As the Hyderabad-based employee benefits specialist steps into its second decade, it boasts a 90% client retention rate and a 4.9-star Google rating from over 3,800 reviews. Hyderabad (Telangana) [India], August 8, 2026: Corporate health insurance policies are fundamentally built on a silent promise: that support will be available when an employee faces their most difficult moments. Yet, reality often delivers unresponsive portals, indecisive helplines, and families left waiting. Ethika Insurance Broking Pvt Ltd was established specifically to address that gap.

This philosophy was formalized on 8 August 2016, when the Insurance Regulatory and Development Authority of India (IRDAI) granted the firm its insurance broking licence. A decade later, the company’s core metric remains unchanged: prioritizing the claim over the sale.

Established by Susheel Agarwal, Ethika operates as a bootstrapped, profitable entity without external funding. The firm currently supports over 750 organizations spanning the IT, pharmaceutical, manufacturing, and service sectors, having managed more than 15,000 claims over the past year.

The claims-first model

Under Protect, Ethika manages and services group health, group personal accident, group term life, and related commercial insurance policies. Every claim is routed through Red Carpet, the company’s internal claims division, prior to reaching the insurer or third-party administrator (TPA). This process ensures that discrepancies are identified and resolved on the client's behalf, with standard cashless approvals currently averaging under an hour. Rise provides a customized wallet featuring 30+ benefits covering physical, mental, financial, and daily wellness needs, while Ethika Hub serves as a centralized platform for HR and employees to manage enrolment, track claims, and access wellness resources.

"A company has two jobs for its people: help them rise, and protect them when they fall," said Susheel Agarwal, Founder, Ethika Insurance Broking. "We started Ethika on that belief in 2015. What I am proudest of is not a number. It is that when a claim turns hard, a real person from our team picks up and stays until the matter is closed. We promise the fight, never the outcome."

This commitment stems from an incident in 2021, when the team supported a family through a claim denial that other parties refused to challenge. Agarwal has often cited this as the defining moment that shaped the company's identity.

"A broking licence is not a trophy. It is a standard we must meet every day," said Sandeep Mukka, Co-founder and Principal Officer, Ethika Insurance Broking. "A broker answers to the client, not to any insurer, and IRDAI's regulations put that in writing. Our focus does not change: transparent advice and disciplined compliance."

Recognition and the road ahead

External validation reflects this commitment. Independent audits, including SOC 2 and ISO 27001, verify Ethika’s protocols for protecting employee health data. Furthermore, internal employee feedback led to the company receiving Great Place to Work certification in 2026, and the Indian Chamber of Commerce has recognized the firm as Asia's Best Innovation-led Insuretech.

The company maintains operations in Bengaluru and Mumbai, alongside Reside from Work, a nature-integrated campus near Zaheerabad. Looking ahead, the firm plans to direct its investments into the same areas as the previous decade: enhancing claims capabilities, developing Ethika Hub, and conducting benefits workshops for founders and HR departments.

"What I watch most closely is how many clients are still with us, because retention is the truest review a broker gets," said Sarath Reddy, Co-founder, Ethika Insurance Broking. "Companies stay for what happened the last time one of their people needed us. What comes next is growth without ever letting that slip."

About Ethika Insurance Broking Pvt Ltd

IRDAI Direct Insurance Broker (Life & General) | Certificate of Registration No. 574 | Licence valid till 7 August 2028 | CIN: U66030TG2015PTC099365 | Principal Officer: Sandeep Mukka | Member, Insurance Brokers Association of India (IBAI) | www.ethika.co.in

Media contact: Unit 1309, Block B, Asian Sun City, Kondapur, Hyderabad, Telangana 500084. Email: [email protected] | Phone: +91 7559 7559 57