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Journey of a young Goan entrepreneur: Insuring health and securing life

It does not matter how you start, but where you finish. Starting his career in insurance for pocket money, young Khaiman Andani Khavtay became the first Goan to collect a record number of policies under medical insurance and have a 100% claim

06th August 2018, 03:43 Hrs


It was just for some extra pocket money that he joined his mother’s company three years ago and now, proving his worth, in Star Health and Allied Insurance Company, Khaiman Andani Khavtay became the top performer, achieving third place in the western zone, India and securing number one position in the Goa division for the financial year 2017-18.   

This 25-year-old youth is the first Goan to achieve this feat. He is grateful to the branch manager Nitesh Nerurkar for his support and guidance. As a result of collecting a record number of policies under medical insurance and having a 100 % claim , Khaiman was awarded the keys to a new Maruti Suzuki Swift car.   

“I am grateful to all my clients for the support and I truly believe that the journey of life is all about winning people and not awards,” says a humble Khaiman. A mass communication graduate from IBDP, Pune who loves to play guitar and football when he gets some free time, Khaiman is good at roller skating from his school days and has represented Goa nine times.   

Working in Smart Investments, a 25-year-old firm started by his dynamic mother Khairoo Khavtay, a name in LIC circles that qualified in 2011 for TOT (Top of the Table) title, the highest honour in the insurance world. “My mother has travelled the world bagging awards in the health sector as well, and my father, who began his career as a TCS employee became an entrepreneur later and is now into the franchising business,” boasts a proud Khaiman.   

After joining the company Khaiman diversified the business verticals at Smart Investments. From selling only life insurance he went on to add lots of feathers to the company’s cap. Seeing his mother’s vast database, he thought of giving their clients a holistic solution, while offering them financial planning. He also thought of adding risk mitigation and legacy planning too.   

“For that I had to study and answer various exams. Today we deal in life insurance, mediclaim policy, group mediclaim, cars and bike insurance, mutual funds, bonds, personal accident policy, disability insurance and also business protection planning,” shares Khaiman who then joined Star Health Allied Insurance Company Ltd as a medical advisor, under his mother who is the sales manager for the company.   

Star Health and Allied Insurance Company is the first and only standalone health and allied insurance company in India and also the largest one. “We have 16 hospital tie-ups in Goa and more than 3200 hospitals across India. Our products are for people in the age group beginning from 16 months to 75 years of age. Hence we are not only popular but we also have the highest claim settlement ratio in India as of last financial year. We have special plans for cancer patients, diabetics, heart ailments, senior citizens and also maternity plans,” claims Khaiman.   

This 12-year-old company has its head office in Chennai and Goa. “Our Panaji office is led by Nitesh Nerurkar,” mentions Khaiman. The company specialises in existing cancer patients’ plans, existing diabetic patient’s plans, existing heart patient’s policy, maternity plans and policy for normal, healthy people too. 

“Our hot selling product is the senior plan for people aged 60 plus, wherein they are covered from day one and without any medical check-up,” states Khaiman.   

Speaking on the business the company witnessed, Khaiman shares, “We did business of 35 lakh in premium with more than 175 policies for the year. We advise people to take up our policies as safety and security against sudden illness, accidents or unforeseen events. It builds a safety net for the family. Just as we insure our car we need to insure our health and also our future income too. In a country like India, life insurance and mediclaim policies are a must for the common man. A state like Goa needs more of disability plans as the accident rates are high here.”   

Khaiman who has high aims has a message to youth in Goa - “I wish to settle each and every claim. I want to help my clients retire rich and I also want to assist them to buy as per their goals in life. I want to tell youth of my age - work for yourself. Set goals and strive to achieve them. Be humble. Respect your elders and be grateful to all those who help you climb the ladder of success. If you do so, then sky is the limit.”   

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