In India, the insurance industry has witnessed a substantial rise over the last decade, introducing a myriad of advanced products. As a result, there has been fierce competition with a positive and healthy outcome. The industry plays a crucial role in the well being of its economy. It significantly increases individuals saving opportunities, protects their future, and aids the industry in forming a large pool of funds. The sector makes a significant contribution to the capital markets with the help of these funds, resulting in increased large-scale infrastructure development in India. The ongoing coronavirus pandemic has had a powerful impact on the Indian insurance industry. Not only will the changes increase the country’sinsurance penetration rate, but they will also result in a conscious shift in the insurance product mix. According to research, the life insurance industry is poised to grow at a CAGR of 5.3 percent between 2019 and 2023. In FY20, India’s insurance penetration was estimated to be 3.76 percent, with life insurance at 2.82 percent and non-life insurance at 0.94 percent. In terms of insurance density, India’s overall density stood at $78 in FY20. Mirroring the growth of the constantly evolving industry since 2016, Amaze Insurance Brokers Pvt. Ltd. a valuedriven, ethical, and professional insurance broker started off on the right foot with the right team offering best-of-breed insurance portfolio management services. At the same time, Dr. K Muralidhara Reddy a seasoned veteran with over 32 years of proven industry experience wanted to develop an organization, which will provide world class and innovative risk management and insurance solutions to bring intern ational repute to Indian insurance brokers. Thus, to pursue his dreams with the freedom to innovate and bring immense change, Dr. Reddy joined Amaze Insurance Brokers in 2016 as the Managing Director & Principal Officer. He is associated with insurance broking 20215 since 2003 when the IRDAI granted the first batch of licenses. Under his esteemed leadership, the 5-year-old company has cemented its position in the insurance industry by delivering the best-in-class services to clients in all areas, from best coverage and most competitive premiums to speedy and hassle-free claims settlement giving customer delight.

Customer-Centric Approach
Amaze Insurance Brokers is licensed by IRDAI (Insurance Regulatory & Development Authority of India)vide license no. 549. Professionalism, technical skills & competencies, and industry experience are a rare combination that is required to manage a client’s insurance portfolio at a world class level. And, these traits are available to clients through Amaze Insurance Brokers. The company handles all of its clients’ life and non-life insurance requirements and delivers the best service. It offers excellent benefits to its clients regarding coverage, premium savings, timely policy renewals, and prompt & judicious claim settlement. Amaze Insurance Brokers has raised the bar to a new high by providing best-in-class insurance portfolio management services such as project insurances that include EAR, CAR, CPM, Marine cum EAR(MCE), Global WC, etc. operational covers that include IAR, Fire & Special Perils Policy, Marine, MBD, BPP, EEI, Money Insurance Cash in Transit & Safe, Employee Crime(Fidelity Guarantee), Jewellers all Risks Insurance and business interruption covers, including Advance Loss of Profits(ALOP), Marine Delay in StartUp (Marine DSU), Weather Insurance, Fire Loss of Profits (FLOP), Machinery Loss of Profits (MLOP). The company’s know how also revolves around offering liability insurances such as CGL, Public Liability (Act), E&O, D&O, Professional Indemnity, Product Liability, Clinical Trials, WC, Cyber Liability Insurance, etc. employee benefits like Group Health(GMC), Group PA (GPA), Group Term (GTLI), Group Gratuity, Superannuation, Leave Encashment, Group Overseas Travel (GTI) etc. and other insurances that include

vehicle insurance for company’s and employees’ vehicles, Top-up Health, Unnamed PA, Special Contingency, Export & Domestic Credit Insurance, and Rural Insurance. Amaze Insurance Brokers offers this plethora of services across various sectors such as power,IT & ITES, pharma including big pharma companies listed in NYSE, hospitality including 5-star hotels, hospitals including corporate hospitals, biotech & clinical research organizations, manufacturing, service, government departments or organizations, and SMEs or rural insurance covers, including cattle insurance or other sectors.

Amaze insurance brokers was the first-of-its-kind insurance broker in the industry probably in the world to design, develop and implement a unique software platform in 2016 for sheep insurance in telangana state

Enroute To Success
Amaze Insurance Brokers was the first-of-its-kind insurance broker in the industry probably in the world to design, develop and implement a unique software platform in 2016 for sheep insurance in Telangana state. The company complies with IRDAI, ROC, GST, Income Tax, and other regulations and meets all deadlines. Currently, Amaze Insurance Brokers uses internal software to manage its day-to-day insurance broking operations. The company is also planning onsite insurance audits for its clients that will help to assess the portfolios it currently handles and make improvements. The outstanding work at Amaze Insurance Brokers has been recognized with numerous awards, including The Best of 5 Insurance Advisor Companies 2021 by Insights Success Magazine, Telangana Best Employer Brand Awards 2018, and Insurance Broker of the year in 2018, to name a few. Dr. Reddy’s outstanding contribution to quality and excellence in the realm of customer satisfaction, as well as his impact on society through service and management, has bagged the winner of the India 500 Quality Leader Awards 2020. “Our vision is to establish and emerge as one of the most preferred insurance brokers, providing innovative solutions to ensure total customer satisfaction. In the process, we aspire to combine excellence, quality, and timely service delivery with professionalism in risk coverage, premium management, claim handling, risk management, and insurance portfolio management services to all our customers. Sustainability will be the crucial factor while demonstrating and earning a reputation for good ethics and trusted services to all our customers,” expresses Dr. Reddy.

A Winning Team
A great team is at the heart of every success. Amaze Insurance Brokers has an excellent team of professionals boasting over decades of experience and expertise in managing insurance portfolios for clients from SMEs to large corporations, government departments, government undertakings, mega projects, industries, bringing in customer delight. The highly qualified staff is well trained, with the majority having completed brokers’ training and passing the IRDA examination. They also actively participate in online training provided by the National Insurance Academy and the Insurance Institute of India on a regular basis. As a result,the employee helps the clients with their insurance related questions, resulting in customer delight in every situation. The company also subscribes to various national and international journals like RIMS, IRMI, and many more.

Forging Ahead!
The insurance industry is embracing digital transformation. Thus, to keep pace, Amaze Insurance Brokers has entered into online sale of insurance products under IRDA regulations and has also obtained the necessary ISNP permissions from IRDA. www.bimastreet.com, the company’s website for online product sales, is nearing completion and will be commercially launched in October 2021.Bimastreet is unique in the market in terms of claims service to customers, which is a differen tiator. While Bimasteet fulfils a longfelt need among retail customers, Amaze Insurance Brokers envisions developing digital solutions for SMEs and corporations that include all of the necessary features, which will be the company’s upcoming major project. To gain firsthand knowledge of the digital field and stay one step ahead of the competition, Dr. Reddy completed a three-month Digital Marketing course at Columbia Business School. This degree would undoubtedly enable him to steer the company in the right direction and at a faster pace in this digital age.

Dr. K Muralidhara Reddy, Managing Director & Principal Officer
HyderabadDr. K Muralidhara Reddy, also known as Dr. Reddy, has 32 years of experience working in the insurance industry. He has rich experience as an insurance broker, having worked in the industry since 2003 when the Insurance Regulatory and Development Authority of India (IRDAI) issued the first batch of licenses. Prior to joining Amaze Insurance Brokers, Dr. Reddy worked at The New India Assurance Co Ltd as a Direct Recruit Specialist Officer from 1988 to 2002. During this period, he has finalized, handled, and implemented the various unique insurance schemes.

Awards/Recognitions:
•Skoch Order of Merit Award by SKOCH GROUP was awarded to Amaze Insurance Brokers in September 2016 to design and successfully implement the Sheep Insurance scheme under NCDC in Telangana State using IT Platform LISA.
•Insurance Broker of the Year Award – Business Leader of the Year – BFSI – ICON 2018 held on 16th February 2018 at Taj Lands End, Mumbai.
•Telangana Best Employer Brand Award 2018.
•Winner of India 500 Start-Up Awards in 2019 for Quality Excellence.
•The Best of 5 Insurance Advisor Companies Award.
Office: Hyderabad