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Sarvada research, workflows, and commentary focused on operations & best practices.
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Operations & Best Practices
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June 27, 2026
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79 articles
Operations & Best Practices - June 27, 2026 - 5 min read
Brokerage income flows in net of tax, and the gap between what an insurer's remuneration statement says and what lands in the bank is where revenue quietly leaks. This guide walks a broker finance team through Section 194D withholding, the GST-versus-commission split on invoices, Form 26AS reconciliation and the documentation that keeps notices away.
By Tarun Kumar Singh
Operations & Best Practices - June 27, 2026 - 5 min read
The 2024 IRDAI operations regulations folded the old 2017 outsourcing rules into a single, more principle-based regime. This post sets out which decisions an insurer must keep in-house, what may be outsourced, and the board-level policy, committee and annual-review machinery now expected of every insurer and the brokers who depend on outsourced functions.
By Tarun Kumar Singh
Operations & Best Practices - June 27, 2026 - 5 min read
Selling commercial cover online in India is not a website decision, it is a regulated platform decision. This guide walks brokers and insurers through standing up an Insurance Self-Network Platform under the IRDAI e-commerce guidelines: the permission process, the mandatory security audit, e-insurance account timelines, payment controls and the security standards a platform must hold.
By Tarun Kumar Singh
Operations & Best Practices - June 27, 2026 - 5 min read
After a fire claim is paid, the cover quietly shrinks, and the buyer who does not notice is underinsured for the rest of the year. This post separates two things that share a name: the post-loss reinstatement-of-sum-insured endorsement that restores cover, and the Reinstatement Value Clause that governs how the underlying claim itself is settled.
By Tarun Kumar Singh
Operations & Best Practices - June 26, 2026 - 5 min read
Financed plant, property and equipment carry a lender or lessor interest that the policy must reflect, usually through the Agreed Bank Clause. This guide covers joint-name issuance, drafting and tracking financier-interest endorsements, loss-payee claim routing to the bank, and the operational failures that strand a borrower's claim or leave a lender's security unprotected when a loss occurs.
By Tarun Kumar Singh
Operations & Best Practices - June 26, 2026 - 5 min read
A full-and-final discharge voucher can quietly close a disputed commercial loss for less than it was worth. This guide explains how a signed voucher binds the insured, the narrow protest exception, the 2025 and 2026 court rulings on economic duress, and how broker claims teams should advise on signing under protest while building the contemporaneous-evidence trail the courts now demand.
By Tarun Kumar Singh
Operations & Best Practices - June 26, 2026 - 5 min read
Section 64VB makes premium receipt the precondition for cover, and a broker sits in the middle of that chain. This operations playbook walks premium-handling teams through cover-note timing, acceptable payment instruments, the dishonoured-cheque trap, broker-to-insurer remittance duties and the co-insurance bank-guarantee mechanics, with the control points where commercial placements most often break.
By Tarun Kumar Singh
Operations & Best Practices - June 25, 2026 - 10 min read
IRDAI wants distribution costs on Bima Sugam-listed products significantly lower and tilted toward servicing and retention rather than front-loaded payouts. For brokers, that breaks the old accrual model. This post lays out how to rebuild recognition, MIS, clawback and EOM-aware reconciliation before the marketplace goes live.
By Tarun Kumar Singh
Operations & Best Practices - June 24, 2026 - 10 min read
Bima Sugam is moving from an information hub to a transactional marketplace, with its first commercial use case expected within 2026 and insurers nudged toward zero-commission standardised products. Brokers should treat this as an operating-model decision and rebuild the placement desk around it now.
By Tarun Kumar Singh
Operations & Best Practices - June 23, 2026 - 10 min read
IRDAI's proposed Public Insurance Registry will hold policy, claims and grievance data in structured, consent-based form across the lifecycle. Brokers whose records are clean, reconciled and consent-mapped will look credible when submission starts. This is a practical data-hygiene workplan to begin before any deadline lands.
By Tarun Kumar Singh
Operations & Best Practices - June 22, 2026 - 10 min read
Premium handling is the largest operational and regulatory exposure most Indian brokers under-control. With the April 2026 fraud framework naming intermediary and internal fraud, and cyber and DPDP duties on the same money rails, this is a working reconciliation playbook for the broker who wants to keep both the licence and the PI cover.
By Tarun Kumar Singh
Operations & Best Practices - June 21, 2026 - 11 min read
IRDAI's Insurance Fraud Monitoring Framework Guidelines, 2025, in force from 1 April 2026, treat distribution-channel and intermediary fraud as a distinct typology with channel-specific red-flag indicators. Brokers can no longer treat fraud as the insurer's problem. This guide shows what controls a broking firm must install inside its own four walls.
By Tarun Kumar Singh
Operations & Best Practices - June 20, 2026 - 10 min read
IRDAI's 2026 rule forces insurers to settle genuine health claims within 15 days of the final discharge summary, with auto-approval and penal interest for delays. This shifts the burden of speed onto whoever controls document flow, and gives brokers a measurable service edge if they instrument the clock and own the receipt timestamp.
By Tarun Kumar Singh
Operations & Best Practices - June 18, 2026 - 14 min read
A large corporate's insurance claims are too consequential to handle ad hoc, and a claims governance committee gives them a structure: who decides what, when a claim escalates, how surveyors and reserves are overseen, and how disputed claims are run. This post sets out the committee's composition, thresholds, oversight of loss adjusters and reserving, litigation strategy, the broker's role and the MIS the committee should track.
By Sarvada Editorial Team
Operations & Best Practices - June 18, 2026 - 10 min read
The National Health Claims Exchange and IRDAI's tightened 2026 settlement clocks have changed what a broker claims desk must actually do. This guide rebuilds the desk around FHIR payloads, the three-hour discharge clock, and the 15-day genuine-claim mandate, with concrete SOPs.
By Tarun Kumar Singh
Operations & Best Practices - June 17, 2026 - 14 min read
A protected cell company lets a mid-size Indian corporate rent a ring-fenced cell inside a shared core rather than fund a standalone captive, cutting set-up cost and committed capital. This post sets out the PCC and incorporated-cell-company anatomy, the rent-a-captive promoter model, how a cell differs from a standalone captive, the IFSCA cell regime taking shape at GIFT City, the segregation statute, fronting and collateral, and the rent-versus-build crossover for an Indian mid-market group.
By Sarvada Editorial Team
Operations & Best Practices - June 14, 2026 - 14 min read
In a tightening market an underwriter prices what it can see, and a thin renewal submission is read as a hidden risk and loaded accordingly. This post sets out what a high-quality renewal data pack contains, why submission quality moves pricing and capacity, the renewal calendar that gives the data time to work, and how broker stewardship and poor data decide whether a corporate gets terms or a decline.
By Sarvada Editorial Team
Operations & Best Practices - June 13, 2026 - 14 min read
A group buys insurance centrally but the cost has to land somewhere, and how it lands shapes behaviour. This post sets out the methods for allocating premiums, retained losses and risk-administration cost across subsidiaries and business units in an Indian corporate group, the transfer-pricing considerations the allocation has to satisfy, the tension between fairness and incentive, and how a group captive changes the calculus.
By Sarvada Editorial Team
Operations & Best Practices - June 13, 2026 - 13 min read
Indian insurance brokers spend their days placing other businesses' risks, yet many never treat their own firm as a client and never run their own professional indemnity as a managed exposure. This post takes the broker's own-risk view: IRDAI's compulsory PI as a continuing licence obligation, the recurring E&O claim patterns brokers actually generate, the contemporaneous file-note discipline that defends them, the notification protocol that keeps claims-made cover alive, and the own-risk governance that makes the firm its own best account.
By Sarvada Editorial Team
Operations & Best Practices - June 11, 2026 - 10 min read
Corporate insurance buyers can no longer treat the broker relationship as informal. This piece sets out how to structure broker accountability through a scope-of-services and service-level agreement, an annual stewardship report, and an explicit choice of fee versus commission, and how the 2026 expenses-of-management and commission-disclosure reforms are pushing mid-market buyers toward fee-based mandates.
By Sarvada Editorial Team
Operations & Best Practices - June 11, 2026 - 12 min read
Placing a large programme with a carrier that cannot pay a major claim is a counterparty risk in its own right. This post sets out how an Indian corporate risk manager should vet insurer solvency, ratings and reinsurance support before placement, and why it matters more after the wave of new and foreign carriers with no local claims track record.
By Sarvada Editorial Team
Operations & Best Practices - June 10, 2026 - 16 min read
A broker's grievance-redressal process is a regulatory obligation, not a courtesy. This post sets out a workflow aligned to the IRDAI framework: Bima Bharosa (formerly IGMS) integration, turnaround-time norms, escalation matrix, the Insurance Ombudsman pathway, root-cause logging and audit trail.
By Tarun Kumar Singh
Operations & Best Practices - June 8, 2026 - 18 min read
Underinsurance is the most common and most avoidable cause of a shortfall at claim time, because the average clause cuts the payout in proportion to the under-declaration. This post sets out a periodic sum insured adequacy review workflow covering reinstatement value, the average clause, asset register hygiene, indexation and valuation cadence.
By Tarun Kumar Singh
Operations & Best Practices - June 6, 2026 - 16 min read
Recommending an insurer is a counterparty-risk decision a broker must be able to defend. This post sets out how brokers should empanel and rate insurers using IRDAI solvency margin data, credit and claims-paying ratings, reinsurer security and documented selection criteria, with ongoing monitoring.
By Tarun Kumar Singh
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