HYDERABAD,
INDIA : At a time when most Indian insurance brokers
are still navigating the transition from paper to PDF, Ethika Insurance Broking
has leapfrogged the conversation entirely — earning international recognition
for building something Asia’s insurance industry has rarely seen: an employee
benefits ecosystem anchored in technology, empathy, and measurable happiness.
The
Indian Chamber of Commerce has recognized Ethika Insurance Broking at the 6th
Emerging Asia Insurance Conclave, held in Thailand, with the award for Best
Innovations Led by Technology & Insurtech — General Insurance (India). The
conclave brings together insurers, brokers, regulators, and Insurtech leaders
from across high-growth Asian markets — making this recognition a signal to the
region, not just the country.
“Insurance
should not start at hospitalization. It should start at happiness. This
recognition tells us the world is ready for that idea.”
— Susheel Agarwal, Founder & CEO, Ethika
Insurance Broking
For
Susheel Agarwal, who built Ethika entirely without external funding — 100%
bootstrapped and profitable since inception — the Thailand recognition is less
about a trophy and more about a thesis being validated on a global stage.
A Company Built on a
Radical Premise
Group
Health Insurance in India has historically been a procurement exercise.
Companies negotiated premiums in January, filed claims in March, and wondered
why their employees didn’t feel more cared for. The broker was a middleman. The
insurer was a black box. And the employee — the person the policy was actually
meant to protect — was the last person considered in the conversation.
Ethika
was founded to dismantle this model.
Starting
from Hyderabad’s Kondapur — the same zip code that houses some of India’s
largest tech companies — Ethika built its philosophy around one question: what
would employee benefits look like if we designed them from the employee’s
experience outward, rather than from the policy document inward?
The
answer took shape as three interlocking pillars that now define Ethika’s model:
●
Technology that eliminates friction — the
Ethika OS™, a proprietary benefits management platform that enables HR teams to
manage employee benefits in minutes, and gives employees a single mobile
interface for enrollment, claims, wellness, and coverage.
●
Claims that feel like care — the Red Carpet
Claims Assistance model, which deploys dedicated specialists to guide employees
through hospitalization rather than routing them through call centers. The
goal, as Ethika puts it internally: claims assistance that earns thank-you
notes, not just approvals.
●
Benefits that go beyond the hospital — the
Employee Happiness Insurance framework, which embeds unlimited doctor
consultations, mental health counseling, financial and legal support, nutrition
programs, preventive checkups, and wellbeing workshops directly into the Group
Health Insurance umbrella. Creating a perceived annual benefit value of ₹28,000
to ₹72,000 per employee.
The Numbers Behind the
Philosophy
In
an industry where client retention averages 60-70%, Ethika holds 92%. In a
sector where broker reviews are rarely sought and almost never flattering,
Ethika has earned a 4.9-star rating from over 3,000 Google reviews — a
distinction no other insurance broker in India currently holds. The company
covers over 2,00,000 lives across 600+ corporate clients and settles more than
1,000 claims every month.
These
are not startup metrics. They are the outcomes of a company that chose depth
over scale, service over growth-hacking, and genuine care over sales-first
thinking.
What ‘Employee
Happiness Insurance’ Actually Means
The
most misunderstood aspect of Ethika’s model is also its most powerful. When
Ethika talks about ‘Employee Happiness Insurance,’ it is not describing a
branding exercise. It is describing a structural shift in what Group Health
Insurance delivers.
Traditional
GHI activates when something goes wrong — when an employee is hospitalized,
when a claim is filed, when a crisis occurs. Ethika’s model activates every
day, with wellness touchpoints, mental health support, financial counseling,
and preventive care that make the policy feel alive to the employee — not just
relevant in a hospital corridor.
“When
organizations start solving employee personal problems, employees start solving
business problems. That is the direct link between benefits design and business
outcomes.”
— Susheel Agarwal
The
result is measurable: companies that implement Ethika’s Happiness Ecosystem
report stronger talent retention, higher benefit program awareness, and —
crucially — fewer claims, because prevention was built into the design from the
start.
Bootstrapped in India.
Recognized Across Asia.
The
Emerging Asia Insurance Conclave is not a participation award. It convenes
decision-makers from insurance markets across Southeast Asia, South Asia, and
the broader emerging Asia corridor — markets where the intersection of
technology, underinsurance, and rapid workforce growth makes the question of
employee benefits design existential, not optional.
For
a 100% India-built, India-funded company to stand on that stage is, in itself,
a statement about what Indian Insurtech can achieve without Silicon Valley
capital or global backing.
Ethika
holds IRDAI Certificate No. 574 and is a proud member of the Insurance Brokers
Association of India (IBAI). It operates with full regulatory compliance, a
published Quality Policy, and the kind of institutional integrity that
enterprise clients require and rarely find at this level of service.
What This Means for
India’s CHROs and HR Leaders
For
the HR leaders and CFOs who manage Group Health Insurance decisions in Indian
companies, the Ethika model offers a fundamentally different question to ask
their current broker: are you building us an ecosystem, or selling us a policy?
The
difference shows up in claims turnaround times, employee NPS scores, benefit
program utilization rates, and ultimately, in whether your people feel looked
after — or just covered.
Companies
that have partnered with Ethika consistently report that the shift from a
traditional broker to an employee benefits ecosystem partner changes the
internal conversation about HR investment — from cost center to strategic
asset.
“Most
brokers sell policies. We build ecosystems. The award from Thailand tells us
that distinction matters — not just in India, but across Asia.”
— Susheel Agarwal, Founder & CEO, Ethika
Insurance Broking
About Ethika Insurance
Broking
Ethika
Insurance Broking Pvt. Ltd. is a technology-led employee benefits partner
headquartered in Hyderabad, India. Founded on the principle that insurance
should begin at employee happiness — not hospitalization — Ethika serves 600+
corporate clients, covers 2,00,000+ lives, and settles 1,000+ claims monthly.
The company is 100% bootstrapped, profitable from inception, and holds a
4.9-star rating from over 3,000 Google reviews.
IRDAI
Certificate No: 574 | License valid till August 7, 2028 | Member, IBAI
For
media enquiries or partnership discussions: www.ethika.co.in
| +91 7559 7559 57
