Insurance advisory for small businesses

How it makes money

Commission as a registered intermediary (IRDAI rules apply).

Skills you’ll need

• Insurance knowledge
• Sales
• Compliance

How to start: first steps

1. Get the required IRDAI registration or partner with a licensed broker.
2. Focus on one segment (restaurants, factories, startups).
3. Create simple comparison and claims-support offerings.
4. Partner with industry associations.
5. Win renewals with great claims support.

Risks to plan for

• Licensing and compliance
• Long sales cycles
• Commission dependence

Plan the numbers

Use the Startup Cost Calculator to build a real budget, the Unit Economics Calculator to check per-customer profit, and the Break-even Calculator to see how much you need to sell.

Learn from companies in this space

FAQs

How much does it cost to start insurance advisory for small businesses in India?

As a rough, indicative estimate, a lean start may need around ₹2 L – ₹15 L, depending on city, scale and choices. Build your own budget before committing.

Is insurance advisory for small businesses profitable?

Margins in this model are typically medium. Profitability depends on pricing, costs, scale and execution — check your unit economics early.

How do I test this idea cheaply?

Close 10 policies through a licensed partner in 60 days.

Figures are rough, indicative estimates for a lean start, not quotes or advice. Check licences, regulations and costs for your city and situation. Have a twist on this idea? Share it on the Ideas board.