PRESS RELEASE

Ethika Insurance Broking wins Special Jury Recognition for Claims Excellence

By Karostartup

The India InsurTech Summit 2026 jury looked at one thing: how claims are handled. Ethika supported more than 15,000 of them in the last year, over 40 every day.

Hyderabad, Telangana, 30 October 2026: Ethika Insurance Broking Pvt Ltd, the bootstrapped, IRDAI licensed employee benefits broker, has received the Special Jury Recognition for Claims Excellence at the India InsurTech Summit 2026, held in Mumbai.

Most recognitions look at a company as a whole. This one looked at the moment an employee actually uses the cover their company bought. For Ethika, that moment is the business. In the last year, Red Carpet, Ethika's in house claims team, supported more than 15,000 claims: a cashless approval needed before surgery, a discharge being arranged late at night, a claim that came back short and had to be taken back to the insurer.

“A jury that looks at claims is looking at the part of insurance most people only meet on the hardest day of their year,” said Susheel Agarwal, Founder and CEO, Ethika Insurance Broking. “Every one of those 15,000 claims was a family waiting for an answer, and someone from our team making sure they weren't waiting alone. This recognition belongs to the people on our claims desk. We can't promise anyone how a claim will end. We can promise the fight, and that no one faces it alone.”

The work behind the recognition

Every claim reaches Ethika's own claims team first, before the insurer or the TPA sees the file, so gaps and missing documents are caught on the client's side of the table. If a claim comes back denied or reduced, a specialist reads the policy line by line and escalates in writing, as far as the policy's own words allow.

The work also starts well before a claim. Ethika negotiates policy wording when the cover is placed, so the clauses employees will depend on are in the policy before anyone needs them.

Ten years licensed, no outside money

Susheel Agarwal founded Ethika in Hyderabad in 2015 with cofounders Sarath Reddy and Sandeep Mukka, and the company received its IRDAI broking licence on 8 August 2016. It has been bootstrapped from day one and profitable from year one, with no insurer above it and no investor behind it.

A year of recognition

The jury recognition caps a strong year for the company. Ethika is Great Place to Work Certified 2026, received the Indian Chamber of Commerce award for Best Innovations Led by Technology & Insurtech at the 6th Emerging Asia Insurance Conclave, Thailand, February 2026, and in September crossed 4,000 Google reviews at a 4.9 rating. It has also been recognised by its insurer partners, with the ICICI Lombard CEO Elite Club award in Lisbon in 2026 and Digit Insurance's CEO's Elite Club award at Lakshya ’26.

About Ethika Insurance Broking Pvt Ltd

Ethika Insurance Broking Pvt Ltd is an IRDAI licensed Direct Insurance Broker (Life & General), Certificate No. 574, headquartered in Kondapur, Hyderabad, with offices in Bengaluru and Mumbai. The company provides group health insurance and employee benefits to 750+ corporate clients through two offerings: Protect, for group insurance and claim defence, and Rise, for everyday employee care, both run on the Ethika Hub platform. Ethika is a member of the Insurance Brokers Association of India (IBAI).

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Notes to editors

• “Supported” means Ethika's claims team worked on the claim with the employee or their family. It is not a count of claims paid, and outcomes depend on each policy's terms.
• Figures for claims, lives covered, corporate clients and retention are from Ethika's own records. The Google rating and review count were checked on Ethika's Google Business Profile on 30 October 2026.
• Red Carpet is Ethika's in house claims team, based in Hyderabad.
• The India InsurTech Summit 2026 was organised by The Digital Fifth in Mumbai. Ethika received Special Jury recognition in the Claims Excellence Award category. The full list of winners is at indiainsurtechsummit.com/awards

Media contact

Aryan Bhadauria, Research Analyst, Marketing

Ethika Insurance Broking Pvt Ltd

+91 74160 19911 | aryan@ethika.co.in | www.ethika.co.in

Susheel Agarwal is available for interviews. Photographs of the founders and the Red Carpet team are available on request.