Blogs & Articles

HNI Insurance: Exclusive Insurance solution for the chosen few


Protection is the first necessity of opulence and luxury.

- Joseph Conrad


In the recent years, India has proved to be the breeding ground for wealth creation. As per a recent OXFAM report, 17 billionaires were added to the billionaire list last year, taking the total number of Indian billionaires to 101. The wealth of the Indian billionaires has risen to as much as 20.7 lakh crore, increasing by 4.89 lakh crores in a single year.  The growth of the affluent class, has contributed to the growing interests such as owning yachts, vintage cars, luxury cars, charter planes, antiques, fine paintings, sculptures, jewellery, vacation homes, and limited edition electronics and so on.  While this opulence and luxury sounds impressive, they come with their own set of perils and potential risks.


The rich and famous are so razor-focused on increasing their wealth that the thought of safeguarding their wealth from potential risks probably doesn’t even cross their mind. High Network Individuals (HNI’s) are also potential targets for frivolous lawsuits, damages, and liability which don’t help their cause either. Till recently, there was a dearth of viable solutions to cover the niche assets of the Elite class such as memorabilia, unique collections, priceless art, private jets and yachts etc. Offering a solution to this problem, Insurance companies in India have been innovating and coming up with a separate bouquet of Insurance products which cater exclusively to the HNI class.


It is evident that the insurance industry is making great strides in understanding the pulse of the HNI market and offering specialized health insurance solutions for the affluent section. While the insurance industry is constantly improvising and coming up with innovative products, there is a dire need for the HNI's to meet them halfway and embrace insurance as a risk mitigation tool against events that can potentially cause financial distress.  


With the advent of 360 degree lifestyle insurance products spreading across Luxury Homes, Collectibles, Liability, charter planes, antiques, fine paintings, sculptures, jewellery, and limited edition electronics and so on, protecting hard-earned business empires against financial uncertainty and turbulence has become extremely convenient and cost-effective. As entrepreneurs who have built an idea into a profitable business, or executives who have shaped an entire industry, HNIs work hard to build their lifestyle and insurance offers a viable solution to safeguard this lifestyle.