Terms of Service

Effective Date: 07th July, 2026

Platform URL: giib.co.in / MyPolicyNow Portal

Operating Entity: Global-India Insurance Broker's Private Limited

IRDAI Direct Broker License Code: IRDAI/DB-538

This document constitutes a legally binding electronic agreement between Global-India Insurance Broker's Private Limited ("GIIB", "Company", "we", "us", or "our") and the user ("User", "you", "your", or "Proposed Insured") accessing, browsing, comparing, or purchasing insurance products via giib.co.in or our proprietary electronic portal, MyPolicyNow (collectively, the "Platform").

1. Nature of Services & Intermediary Capacity

1.1 IRDAI Licensing and Regulatory Status

GIIB is a licensed Direct Insurance Broker (Life & General) registered with and regulated by the Insurance Regulatory and Development Authority of India (IRDAI) under License Code IRDAI/DB-538. We operate strictly in accordance with the Insurance Act, 1938, the IRDAI Act, 1999, and the IRDAI (Insurance Brokers) Regulations, 2018. GIIB functions as an independent intermediary representing the consumer/policyholder, and not the insurance companies.

1.2 MyPolicyNow Portal Functionality

MyPolicyNow is the proprietary digital interface owned and operated by GIIB to facilitate digital quotation comparison, policy evaluation, lifecycle management, and premium collection routing.

• No Underwriting Capacity: The Platform compiles data from our panel of 22+ IRDAI-licensed insurance companies. GIIB does not underwrite insurance risks, issue policies, or assume the structural financial liabilities of an insurance company.
• Insurer Issuance: All contracts of insurance, policy schedules, terms, conditions, and claim fulfillments are established strictly and exclusively between you and the respective IRDAI-licensed insurer chosen by you.

1.3 Data Privacy and Comprehensive Regulatory Compliance

Your access to the Platform and the submission of any personally identifiable data, policyholder records, or corporate metadata are simultaneously governed by the GIIB Privacy Policy.

• Data Fiduciary Status: GIIB acts as a Data Fiduciary under the Digital Personal Data Protection (DPDP) Act, 2023. Personal data, insurance history, and KYC records are processed under the statutory grounds of Legitimate Use (Section 7 of the DPDP Act) to fulfill your explicit requests for policy procurement, or through your explicit consent.
• Statutory Alignment: GIIB handles all personal data, transaction parameters, and corporate credentials in strict compliance with the Information Technology Act, 2000, the SPDI Rules (2011), the DPDP Act, 2023 (along with active DPDP Rules), as well as all applicable IRDAI guidelines regarding information security, cyber security, and data protection.

2. User Obligations & The Principle of Utmost Good Faith

The contract of insurance is legally founded upon the absolute doctrine of Uberrimae Fidei (Utmost Good Faith). Your responsibilities under this framework are absolute:

• Duty of Material Disclosure: You are statutorily bound to provide accurate, complete, honest, and current material information when requesting quotes, filling out proposal forms, or modifying policy profiles.
• Consequences of Misrepresentation: Any misstatement, omission of pre-existing conditions, fraudulent declarations, or concealment of material facts may completely void the underlying insurance policy ab initio (from the beginning). This can result in the forfeiture of premiums and the outright rejection of claims by the insurer under Section 45 of the Insurance Act, 1938, or general insurance principles.
• Independent Review Duty: GIIB provides comparison tools for administrative convenience. It is your sole responsibility to review the exact policy wordings, exclusions, waiting periods, co-payment clauses, and deductibles before completing a purchase.
• Credential Protection: Your MyPolicyNow portal credentials are textually tied to your identity. Sharing login parameters, OTPs, or access links is strictly prohibited. GIIB disclaims all liability for unauthorized policy changes resulting from user credential leaks.

3. Brokerage, Remuneration, and Transparency

GIIB maintains complete transparency regarding its corporate income architecture:

GIIB's receipt of regulatory brokerage or commission from insurers is fixed by law and does not alter, dilute, or override our statutory obligation under the IRDAI Regulations, to act objectively and in the best interests of the policyholder at all times.

4. POSP and MISP Partner Frameworks

GIIB operates an extended digital network involving Point of Sales Persons (POSPs) and Motor Insurance Service Providers (MISPs).

• Regulatory Compliance: Individuals or entities acting as partners on our infrastructure are strictly bound by the IRDAI Guidelines for Point of Sales Persons and the IRDAI (Admission of Motor Insurance Service Providers) Guidelines, 2017, respectively.
• Operational Scope: GIIB provides compliant onboarding, mandatory educational training modules, and portal tracking software.
• Limitation of Partner Actions: POSPs and MISPs are authorized to solicit and market only specific pre-underwritten products permitted under IRDAI guidelines. Any extra-legal promises, unauthorized representations, or independent financial collection mechanisms undertaken by such partners outside of GIIB's official MyPolicyNow software flows are the personal liability of said partner. GIIB disclaims all corporate liability arising therefrom.

5. Confidentiality and Pre-Contractual Engagements

5.1 Scope of Confidential Information

GIIB frequently engages with prospective corporate and enterprise clients through product demonstrations, proofs of concept (PoCs), Request for Proposals (RFPs), and technical risk-scoping sessions. Any commercial, technical, operational, financial, or strategic data disclosed by either party during these pre-contractual phases shall be deemed "Confidential Information."

5.2 Obligations of Non-Disclosure

GIIB covenants and agrees to maintain strict confidentiality regarding all client-specific data or internal metrics shared with us during these discovery sessions. We shall not disclose, sell, leak, or distribute such information to any third party, except:

• To our internal employees, sub-contractors, or technical experts who have a bona fide "need-to-know" for evaluating the commercial engagement and who are bound by non-disclosure obligations no less restrictive than those contained herein.
• As mandated by an order of a court of competent jurisdiction, statutory body, or regulatory authority, including the IRDAI, provided that GIIB offers prompt written notice to the affected prospective client (to the extent legally permissible) to enable them to seek protective relief.

6. Comprehensive Legal, Operational, and Algorithmic Disclaimers

6.1 General Guidance and Indicative Pricing

All information regarding policies, product benefits, coverage layers, and premium metrics displayed on giib.co.in or MyPolicyNow is for general informational and comparison purposes only.

Premium calculations generated on the Platform are purely indicative, non-binding illustrations. Final premiums, terms, and final issuance are subject to the specific underwriters' risk evaluation, loading rules, medical checks, and final verification metrics. GIIB is not responsible for any variation between the estimated quote and the final premium demanded by the insurer.

6.2 Data and Algorithmic Accuracy Disclaimer

The comparison data, premium calculations, tax estimations, and policy mappings displayed on the Platform are driven by automated algorithms and live API feeds provided by third-party insurers. While we strive to maintain high system accuracy, GIIB does not guarantee that the descriptions, rates, or statistics on the website are entirely error-free, complete, or updated in real time.

6.3 Past Performance and Illustrative Figures

Any statistical metrics displayed on the Platform—including but not limited to total premiums placed, active policy numbers, historical claims assistance success percentages, or settlement timelines—are derived from aggregated historical records. Past performance figures are purely illustrative and do not guarantee future performance, claim approvals, or specific processing speeds by insurers.

6.4 Blog and Educational Literacy Content

Articles, market analyses, infographics, and literary text published on the GIIB blog or newsletters are compiled strictly for general financial and insurance literacy. They do not constitute formal legal, tax, financial, or personalized insurance advice. You should consult a dedicated, certified GIIB risk advisor to map specific transactional or corporate coverage needs.

6.5 Third-Party IP and Insurer Solvency

• Trademarks: All insurer logos, brand names, registered design matrices, and structural product titles belong exclusively to their respective insurance companies. GIIB displays these assets solely for comparative identification under nominative fair use parameters.
• Financial Solvency Disclaimer: GIIB does not track or validate the daily solvency ratios, credit ratings, or immediate financial asset liquidity of our partner insurers. GIIB shall not be held liable or responsible for the financial insolvency, business closure, judicial liquidation, or financial default of any insurance company listed on our Platform. In the event an insurer fails financially, all obligations regarding policy servicing and claim payouts remain strictly with that insurer under law.

7. Third-Party Links, Integrations, and API Ecosystem

7.1 External Hyperlinks

The Platform may contain links or redirect gateways to external websites, portals, or cloud applications operated by third parties, channel partners, or system integrators. These hyperlinks are provided purely for convenience and contextual illustration. GIIB exercises no administrative or editorial control over the content, security architectures, operational uptime, or data privacy practices of external platforms. Accessing third-party links is done entirely at your own commercial and technical risk.

7.2 Extended API Ecosystem

GIIB's digital infrastructure is designed to interface and natively integrate with third-party external applications. This includes the core underwriting and policy administration architectures of registered insurance companies, original equipment manufacturer (OEM) automotive databases, public registry frameworks (such as VAHAN or UIDAI), and external telematics providers.

7.3 Integration Boundary Clause

You explicitly acknowledge that any such API connections, live database synchronizations, and data pipelines are fundamentally subject to, dependent on, and governed by the independent terms of service, API rate limits, and end-user license agreements of those respective third-party provider systems (including insurance carriers). GIIB shall not be held liable or responsible for interruptions, latency, data truncation, incorrect data retrieval, or unilateral modifications executed by third-party API providers.

8. Limitation of Liability and Intermediary Indemnity

8.1 Insurer Decisions Safe Harbor

GIIB IS STRICTLY AN INTERMEDIARY FACILITATION INTERFACE. CONTRACTUAL LIABILITY FOR CLAIM OUTCOMES, CLAIM DELAYS, REJECTIONS, POLICY REVOCATIONS, OR DISPUTES LIES SOLELY AND EXCLUSIVELY WITH THE UNDERWRITING INSURER.

GIIB exercises no authority over an insurer's claim settlement committee, medical board, or surveyor teams. If an insurer disputes, denies, or delays a claim, your statutory remedy rests against that insurance company directly, or through the IRDAI Bima Bharosa Portal (Integrated Grievance Management System) and the Insurance Ombudsman framework established under the Insurance Ombudsman Rules, 2017.

8.2 System, Network, and Gateway Failures

GIIB is not liable for transaction drops, premium processing delays, internet connectivity drops, double-deductions, or failures arising out of third-party digital banking portals, integrated payment gateways, or direct insurer API timeouts. Policies are only active once the insurer has acknowledged receipt of the premium payment in full and generated a valid policy schedule. If money is deducted from your account without a policy being generated, the refund process will be governed by the turnaround times of the respective bank or payment gateway.

8.3 Liability Cap

To the maximum extent permitted under applicable law, GIIB's aggregate, combined structural liability for any claim, systemic error, professional negligence, or dispute arising out of its broking services or the use of the MyPolicyNow portal shall be strictly limited to the exact brokerage amount received by GIIB from the insurer in connection with the specific, individual policy schedule from which the dispute arose. GIIB completely excludes all liability for any indirect, consequential, special, remote, or punitive damages. For exploratory, pre-contractual, or unpriced platform access, GIIB's direct financial liability is zero (0).

8.4 User Indemnification

You agree to indemnify, defend, and hold harmless GIIB, its board of directors, officers, employees, technical consultants, affiliates, and lawful agents from and against any and all claims, liabilities, damages, losses, costs, expenses, or fees (including reasonable legal fees and administrative costs) arising directly or indirectly from:

• Your material breach of any provision contained within these Terms.
• Your unauthorized, fraudulent, or illegal use of the Platform, proprietary software mock-ups, or materials.
• Any material misrepresentation, concealment, or fraudulent declaration made by you in your insurance proposal forms.
• Your infringement of any intellectual property rights, privacy rights, or proprietary trade secrets belonging to GIIB or its third-party licensors.
• Your non-compliance with applicable statutory or regulatory mandates (including IRDAI market conduct guidelines) connected to your operational utilization of data pulled or viewed via the Platform.

9. Intellectual Property Rights

The GIIB corporate name, proprietary logos, the user interface code of MyPolicyNow, numerical evaluation algorithms, data models, website design layouts, and custom scripts are the exclusive intellectual property of Global-India Insurance Broker's Private Limited.

Users shall not copy, extract, data-mine, crawl, reverse-engineer, mirror, or commercially exploit any part of our digital platform without explicit prior written corporate consent from an authorized director of GIIB.

10. Governing Law, Grievance Redressal, and Jurisdiction

10.1 Governing Law

These Terms, their execution, and any dispute or non-contractual claims arising out of them shall be governed exclusively by the laws of the Republic of India.

10.2 Statutory Grievance Redressal Mechanisms

In compliance with the IRDAI (Insurance Brokers) Regulations, 2018, GIIB maintains a dedicated internal grievance redressal officer. Any complaints regarding brokerage service standards must first be directed to our Grievance Officer as specified on the Contacts Page of the Platform. Unresolved industry-level disputes concerning policy underwriting or core insurer behavior can be escalated through the IRDAI's dispute resolution architectures under the Insurance Act, 1938.

10.3 Forum Selection

Subject to applicable statutory provisions governing consumer protection or IRDAI arbitration mandates, any formal legal suits, writs, or judicial actions arising directly out of these Terms shall be filed exclusively within the territorial jurisdiction of the competent courts located in Mumbai, Maharashtra, India.

11. Artificial Intelligence and Machine Learning Technology Outputs

1. GIIB's proprietary software solutions deploy advanced neural networks, predictive modeling, machine learning frameworks, and automated data parsing algorithms. You explicitly recognize and agree that these AI and technological tools are engineered exclusively to augment, assist, and inform human decision-making, not to replace it.
2. Predictive analytics, claim risk scoring, automated fraud indicators, and underwriting recommendations generated by GIIB's models represent statistical probabilities derived from historical data variables and external API inputs. GIIB makes no absolute guarantee, representation, or warranty regarding the flawless accuracy, mathematical completeness, operational infallibility, or real-time correctness of any AI-generated output.

12. Miscellaneous Provisions

12.1 Severability

If any provision or clause of these Terms is determined by a court of competent jurisdiction or statutory authority to be invalid, illegal, or legally unenforceable, such determination shall not affect the validity or enforceability of the remaining provisions. The invalid clause shall be deemed modified to the minimum extent necessary to make it valid and enforceable while preserving its original commercial and protective intent.

12.2 Force Majeure

GIIB shall not be held liable, penalized, or deemed in breach of these Terms for any delay, performance failure, data latency, or interruption resulting directly or indirectly from acts of God, civil unrest, acts of terrorism, war, strikes, cyber-attacks of extraordinary scale, nationwide telecommunication or power grid failures, government embargoes, or modifications to statutory law.

12.3 Amendments and Modifications

GIIB reserves the right to review, update, and modify these Terms at any time to reflect technological developments, operational alterations, or shifts in statutory frameworks. Any such modifications shall become legally binding immediately upon being posted onto the Platform. The date of the latest iteration will be prominently updated in the "Effective Date" field. Your continued use of the Platform after such updates are published constitutes explicit acceptance of the revised Terms.