The past two years have certainly provided us with a reality check. The lockdown forced us to stay in our homes, giving us abundant time to question, dissect, understand, and organize our priorities. One thing that the pandemic has reminded us of is that having insurance is one of the greatest resources one can have. Being in good physical and mental condition involves a lot of factors, such as diet, exercise, regular medical check-ups, etc. But one of the most important things that stresses us is the cost incurred if there is a medical ailment, emergency, etc.
This issue can be easily dealt with by having insurance. Insurance nowadays has turned into a major industry, with many companies providing highly detail-oriented and extremely beneficial solutions that make sure your needs are always catered to with the best solutions possible.
Gold Leaf Insurance BROKERS is one of the leading Insurance Tech companies, gaining popularity and becoming highly sought-after by customers. Gold Leaf Insurance provides custom-made solutions that are made adhering to the needs and requirements of their clients. Being a client-centric company, Gold Leaf ensures its clients are of paramount importance to them. Delivering the best insurance tech services with the utmost standards and support is their top priority. These factors make them one of the most recommended Insurance Tech solution providers to watch in 2021.
In conversation with the CEO of Gold Leaf Insurance, Mr. Chintan P. Mehta. Let’s hear more about the company, its journey, service offerings, and the CEO’s professional journey.
1. Tell us about the company and the initial hurdles after the inception of Gold Leaf Insurance Brokers.
Gold Leaf Insurance Brokers is a “Brokerage firm to scout for Tailor-made Insurance Solutions” – We are determined to have the client at the forefront and provide need-based insurance solutions. We are a team of insurance experts with substantial experience in various lines of business.
As the company was founded recently, we could not have a more challenging beginning. Granted License in the 1st phase of unlocking of the COVID-19 pandemic. Our every plan had to be re-worked owing to such an unprecedented situation. Access to infrastructure, manpower, commute, customer availability, every domain of business operation was full of uncertainties. We owe it to the almighty and our mentor for guiding us through this.
Within a year of our existence, we reached multiple cities, multi-channel, and multi-line insurance businesses. Currently, we are amongst the very few insurance brokers who have 2000+ registered POSP (point of sale person) associated; that too, within such a short span. Also, our D2C (direct to client) initiative adds about 500+ new clients every month. Our Corporate Team is adding MSME clients, month on month.
2. What are the factors that triggered the growth of the company, and contributed to its long-standing success?
The entire market was disrupted like never before. We, a new entrant to the company without any baggage, had a comparatively smoother runway. Our team, who started working from their home with complete dedication and zeal, created an unshaken base for us.
Keeping “Customer Delight” at the center of our existence makes us different. Our obsession with providing “The Best” possible solution & standing “shoulder to shoulder” with the client at the time of need is, I believe, our reason for success. We have created a strong foundation and, undoubtedly, we will build a very solid organization in the days to come.
3. Tell us about the services offered by Gold Leaf Insurance, new additions, and how are these services a class apart?
In the entire insurance distribution ecosystem, insurance brokers are the only entity that represents the client’s interest. At Gold Leaf Insurance, we take this to the next level. We are obsessed to the core with providing the best possible solution for our clients at industry-best rates.
For new additions, we have some very interesting projects in the pipeline. Tech-based insurance products have tremendous scalability potential. We are extremely enthusiastic about those initiatives. I shall share it with you at an appropriate time.
What sets us apart is that we focus on designing and developing niche products and entering into unchartered territories. Also, we always try to balance both worlds. One department of ours caters to the needs of premium segment urban clients, while through other verticals, we reach the last mile by creating a rural POSP network in certain geographies.
4. How do you plan to take the company and its services ahead with the changing times and trends?
We are at a very early stage and insurance is a huge domain. With the penetration level we have in the country, there is humongous space for every player, and in the service industry, when the customer is at the core, you have no competition.
We are committed to introducing sachet products to the market through various digital modes to reach out to the masses and provide value-based products to the affluent.
5. Tell us about your professional journey. Any highlights you wish to share?
In a two-decade-plus professional journey, I have worked in various markets. My experience of working in the Far East, Europe, and the African continent helps me look at things very differently. In the service industry, a humane approach and feeling customers’ sentiments are key areas that I believe I have learned over the years.
Also, the experience of having worked on both sides of the table in insurance, as an insurer as well as a distributor, helped me understand the pain points on every front and address them correctly.
Building a debt-free company while the entire world is crazily after valuation is what makes me different. I always remember the guiding words of my professional idol, Mr. R. Thyagarajan (Founder of Shriram Group). “In the insurance industry, while being true to your client, if you make a couple of percentages of profit, it is not wrong”.
To be considered as one of Asia’s 11 Most Influential Leaders 2020 (Insurance alerts) was one of many highs in my professional career. I have also been recognized as one of the Top 10 Most Inspiring Business Leaders to Follow in 2020 (Insight Success Review) and The 10 Transformational Business Leaders to Look Out, 2021 (The Enterprise World).
6. Tell us about your employee relations and the team at Gold Leaf.
“Take care of your employees, and they’ll take care of your business”. I have always followed these meaningful lines by Sir Richard Branson.
We are one of the few companies to pay full salaries to our staff during the Covid Pandemic Lockdown period. My team is my strength and my key people have been with me for a long time. It’s all about treating them as family members and they reciprocate in the same manner.
7. Any special experiences with your clients you would like to highlight?
Our clients are the Omni reason for us being in business. I always say, in insurance, the time of claim is the litmus test of every service provider, and with extreme pride, I can say that our clients never leave us after experiencing a claim on their policy. Extremely concerned and timely support in crucial times differentiates us from any other insurance company.
I have many clients who not only trust us for their insurance solutions but become our brand ambassadors. Their publicity helps us most in gaining more and more referrals.
8. Your view on constant vigilance – as a need or a strategy?
We are into Insurance, and Insurance is a Risk Management business. Constant Vigilance is our client’s need and our strategy.
9. What is your take on the rat race in the market, and how do you deal with it?
Mr. Narayan Murthy taught us to respect our competitors. By adopting this, one can learn to live in the ongoing rat race peacefully. I also believe one should have some spiritual inclination to live stress-free in this ever-competing world. Make your mark and be humble should be the mantra.