Square Insurance Brokers HRMS & Insurance Platform Case Study

HRMS & Insurance Workflow Enablement for Enterprise Insurance Operations

Natural Group implemented HRMS and insurance workflow solutions for Square Insurance Brokers Pvt. Ltd. to streamline workforce operations, improve policy management processes, and support efficient insurance business operations.

The Client

Square Insurance Brokers is a rapidly growing Indian insurtech company (founded 2017) headquartered in Jaipur, specialized in digital, retail, and corporate insurance brokerage. With ~₹142Cr revenue in FY25 and 250% CAGR, it is expanding rapidly in India and recently raised US$3 million to scale, primarily targeting the Indian market with a focus on digitizing insurance access

Size & Reach

Size & Financials

Revenue: Reported approximately $17 million USD in revenue for the financial year ending March 31, 2025, reflecting a 250% compound annual growth rate (CAGR) over the last year.
Funding: Raised a total of $4 million USD (around ₹33 crore) by late 2024, with major investments from BizDateUp Technologies and Negen Capital.
Growth: In FY24, the company recorded a 109.71% increase in EBITDA and a 56.28% rise in book net worth.
Operations: Operates as a direct insurance broker regulated by the Insurance Regulatory and Development Authority of India (IRDAI) since April 2017.

Reach & Market Focus

Regional Focus: Primarily focused on the Indian market, aiming to penetrate both urban and untapped retail/corporate sectors with digital solutions.
Services: Provides a wide portfolio covering life, health, marine, property, and engineering insurance.
Digital Platform: Utilizes a “digital policy locker” and online issuance platform for quick renewals and personalized service.
Clientele: Serves both individuals and corporate clients, including sectors like construction, transportation, and oil & gas.

The Challenge

Square Insurance Brokers required structured enterprise systems to streamline HR operations and support insurance-related business workflows efficiently.

Key Challenges Included:

Managing employee operations and HR workflows
Supporting structured insurance process management
Improving operational visibility and administrative efficiency
Ensuring reliable workflow support for business operations

The Solution

Natural Support Consultancy Services Pvt. Ltd. (NSCSPL) partnered with Square Insurance Brokers Pvt. Ltd. to deliver HRMS and insurance workflow solutions aligned with enterprise operational requirements.

Our Solution Included:

HRMS implementation for workforce and employee management
Insurance workflow support systems for operational processes
Centralised employee and operational workflow management
Structured deployment with enterprise support services

The Results

Improved workforce management efficiency
Better visibility into operational workflows
Streamlined insurance-related business processes
Stable enterprise systems supporting daily operations

THE DETAILS

Client: Square Insurance Brokers Pvt. Ltd.
Sector: Insurance / Financial Services
Type of Organisation: Insurance Company
Location: India
Engagement Type: Technology Partner
Project Status: Live / Under Support
Website: www.squareinsurance.in

TECHNOLOGY WE USED

WHAT WE DID

HRMS Implementation
Insurance Workflow Enablement

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