The insurance sector is significant in any economy. Because people and businesses keep on putting resources into new startups, innovations, and better approaches for working more to grow more. To do this, people and organizations need to take a ton of investment risks. To protect such investments and much more, insurance plays a vital role.
Mr. Chintan P Mehta is one of the top names in the insurance sector that accelerated the revolution in the same sector.
Chintan P. Mehta started his career in International Business Development. Developed various markets across the globe and built a successful enterprise. After working for several years in different markets like Singapore, Thailand, United Kingdom as well as West Africa, Chintan decided to come back to India.
Last One and a half-decade he has built excellent domain experience from a journey with India Infoline, Way2Wealth, Shriram Group, and Auto Hangar India (AHI). He is a superb taskmaster of bridging awareness & operational excellence in the Insurance domain.
Currently, as CEO of AHI (Auto Hangar India) Insurance Brokers, Chintan along with his team is a master of innovation and disruption for mass & class of society. He places his every situation right with in-depth insurance business analysis, claims management, reinsurance, and customer retention. His team manages client business through the most trained data-center and field associates. In a conversation with team AHI, we talked about the current industry scenario and what AHI offers to its customers.
- What inspires you to achieve the best in your endeavors? Or, who is your role model?
Life is a unique journey. On every fold, you get endless opportunities to learn and improvise. Chintan feels even after an accomplished career of Two decades he still is a student, a student of life. Being an avid reader he is inspired by various scholars and spiritual leaders. You can find the deep impact of preachings of Shri Pandurang Shastri Athawale of Swadhyay & Swami Vivekananda during interaction with him. Professionally his role models are business moguls like Narayanmurthy (humility), Ratan Tata (simplicity), Azim Premji (philanthropy), and R.Thyagarajan (social inclusiveness). As per Chintan, these greats are modern-day sages.
- Kindly tell us about the challenges you faced throughout your entrepreneurial journey and how did you overcome the complexities of the industry.
India is a very diverse country. Every state has its style of functioning; every geography possesses a different challenge. Every industry has its peculiar issues. In Insurance, we as a country have very low penetration compared to similar economies. Insurance still is a push product and awareness at large is depressing. In-depth knowledge of insurance and apt usage of technology needs an hour. The combination of Big Data & AI along with underwriting inputs can be a game-changer for the industry as a whole.
- Kindly describe in brief your company and its services/products.
We at AHI Insurance Brokers crafted our expertise not by selling but by imbibing our knowledge into our offerings. Our uniqueness lies in seeking to consistently execute better and perfect this recipe of Life Cycle Management for continued success.
Our thrust is on advisory and relationship building while dealing with our clientele. AHI works as a one-stop portal for all the insurance needs. As per Chintan, Insurance is a serious long term business; you should have required patience and understanding. Also, this industry impacts the nation’s socio-economic fabric to a great extent. It is imperative that you consciously are aware of the same and create your boundaries keeping this in mind.
Chintan has created a company that is not in the topline seeking valuation game at all. He insists on the role of a good brokerage is to represent the customer first and not the insurer during the entire life cycle.
Our uniqueness lies in seeking to consistently execute better and perfect this recipe of Life Cycle Management for continued success.
- Brief us about the industry scenario from your perspective.
Covid-19 pandemic disrupted every fundamental of business. While few industries are facing survival challenges the insurance industry has got a tremendous boost in a way. It is not that before Corona Insurance Industry was struggling or in deep turmoil. It was growing substantially but the uncertainty of life in pandemic times gave unimaginable upside to the health insurance industry in particular. Q-1 of F.Y.20-21 has seen almost 40% growth even though the entire country was under lockdown. Digital readiness of industry worked as a catalyst here.
Though Loss Ratios have been alarming, the profitability of establishments will be a great challenge. In such times I don’t think one should think about making money but what matters the most is the insurance industry will be able to help people manage their economics in the most troubling times in several decades.
It will also help people to understand their very own need for insurance planning, which in long term will benefit the industry and country at large.
- How do you see yourself and your company shortly? Tell us about your future goals.
We are on a right track – I want to build an enterprise that takes pride in delivering every promise made to clients who value our advice. We are creating niche segment offerings and create our “blue ocean”. Warranty solutions, specialized personal asset insurance cover, pet insurance are some of the few.
- What would you advise to the budding entrepreneurs?
There is no short-cut to success. In the service industry delivering promises is vital & in insurance moment of truth is “Claims”. If you can be true to all your sales pitches at the time of claim settlement, you have no competition.
- 2018: 10 Most Promising Insurance Startups by Silicon India
- 2019: 10 Most Recommended Insurance Solution Providers by Insight Success Review
- 2019: Insurance Broker of The Year – 4th Annual Insurance India Summit & Awards, Mumbai
- 2020: Chintan P. Mehta – 10 Most Inspirational Business Leaders to watch in 2020 by Insight Success Review
- 2020: Chintan P. Mehta – Asia’s Most Influential Insurance Leader 2020 by Insurance ‘alertss