Insure Instinct : Goa’s first registered insurance broker company

Beginning in 1992, it has been a long and steady journey for Khairoo Khavtay, whose dynamism was translated into the multiplication of her business in Goa in the first year of her joining the Life Insurance Corporation of India (LIC). A year after she joined LIC, she procured business of one crore in 1993, and there was no looking back since then. For the first time in the history of LIC agents, Khairoo has formed a private limited company. Her insurance company is now a private limited company – ‘Insure Instinct’.

“We are the first registered insurance brokers from Goa. Generally, there are 200 insurance brokers in India and 18 lakh agents across the country,” states Khairoo who offers claim settlement service for all insurance companies. Her success lies in her positivity, and the friendly approach she keeps towards her clients. It’s been 32 years that she has been helping in personalised financial planning of life, health and wealth to people in Goa and abroad. With a team of 36 persons in India, she operates in cities like Mumbai, Pune, Chennai, Bengaluru, Kolhapur, Chiplun, Indore, Jaipur and Punjab in India. Outside India she operates in Zambia and Dubai, too.

This founder of ‘Khairoo A Khavtay Insurance Brokers Pvt Ltd’ has bagged the prestigious MDRT title from Life Insurance Corporations for the 19th time consecutively starting from 2005 till 2024. Founded in 1992, her company is all about smart investments and has a pan India presence. Grown over the years, her company has turned into a private limited company now and marching to become a leading trusted home brand.

Khairoo’s husband Manosh Khavtay joined her five years ago as financial consultant (CFO) and handles HR finance, salaries etc. Her son Khaiman Khavtay is the director, a strategic planner and thinker, taking the company ahead. “Khaiman is very diligent and plays a very important role in our company,” smiles Khairoo who has pocketed multiple awards from various insurance companies, over the years.

Apart from being the 19th Consecutive MDRT (Million Dollar Round Table) at Life Insurance Corporation of India, she has been among the top 20 performers pan India at Star Health and Allied Insurance. Her company stood among top 10 agencies in India in 2023-24 at ICICI Lombard and also Khairoo was number one liability insurance specialist for the Western Zone in 2020-2022. At Tata General Insurance, she bagged to stand at number one in the Western Zone for corporate insurances in 2019-2024. Khairoo is known for the biggest liability insurance in Western Zone in India, for settling fire insurance claims in 20 working days, having pan India presence and providing right product for the right industry.

Khairoo helps her customers handle the fear of living too long or dying too young by calculating their financial pyramid, based on a scientific calculation of income and risk management, and by assessing their physical and the financial health. Evaluating the risk appetite she helps them grow their money.

“We work towards becoming one stop hub of insurance products that meet the personalised financial goals of our customers through our trusted professional consultant network pan India,” adds Khairoo. Her mission is clear. She strives to embrace a customer-centric approach with all her clients, be they individual or corporate by providing a personalised in-depth risk and wealth management solution that suits ever changing needs.

“We have our in-house claim settlement department, our very own inspection department to review of industrial safety and implementation and fire fighting equipment and services as well as we also review your industrial risks and occupancy giving the right insurance product for the same,” says Khairoo and offering in-house claims support service, she guarantees of 100 % claim settlement. “We settle three claims per day; have highest SIP in mutual funds and have issued Rs 1000 crore worth life insurance policies till date,” she boasts.

The eight verticals that her company works for are: individual life insurance, term insurance, senior citizen’s pension plans, medical insurance for corporate, loans like car, house, investments in buying gold, mutual funds, shares, marine insurance for corporate and medical insurance for individuals. “In medical insurance for corporate sector, Khairoo is on number three in India for marine insurance. “We do it in a big way. I have the top pharma companies with me. We look after their factory insurances, their fire and group Mediclaim, group accidents, marine and vehicle insurances. We now have crossed more than 30 staff in office,” says Khairoo who has two offices at Karanzalem and one in Margao.

According to Khairoo 50% of the workforce is women today, and if they are able to earn money, they should handle their money management too. With a good financial planner women should learn to know where to invest money, when to buy gold or shares, why mutual funds are profitable and how much money would a person need in old age or in case of illness. Khairoo helps in complete scientific planning and investments for her customers.

Looking back, since inception the company has been offering industrial and corporate insurance and has under its belt an asset insurance of Rs 3900 crore, liability insurance of Rs 500 crore, marine insurance of Rs 2353 crore, mediclaim insurance of Rs 538 crore, mutual funds of Rs 400 crore and life insurance of Rs 1,120 plus crore. The lives covered so far are 10,000 and the total claims settled in a year are of Rs 10 crore approximately, with servicing team of 30 plus members. And around 35 % of Khairoo’s clients are from overseas.

Approaching her work with passion, offering service with dedication and advices with transparency, Khairoo keeps integrity towards the customer above everything else. She also assures complete confidentiality from data security to personal information and professionalism as a code of conduct. Her husband and son also are a part of the company, handling crucial departments.

Her clients admire her cheerful nature and have faith in her multi-tasking abilities. Advising her clients to value money, Khairoo says, think as if money is telling you, ‘save me today, I will save you tomorrow’ and act and invest wisely. Here’s her takeaway for everyone, “Write your expenses and income. Keep a track of your money. Otherwise you will be a loser. You won’t know how much you have earned and how much of it is spent. You should know which road your money is coming in and where it is going.”