J.B. Boda Insurance Surveyors
You know that moment of uncertainty after a loss, when the true value of insurance is put to the test? That’s where the loss adjusting and surveying industry comes in, acting as a bridge between unforeseen events and fair resolution. It’s a field that needs precision, integrity, and a deep understanding of complex claims across diverse sectors, including marine, cargo, and general insurance.
At the forefront of this vital industry is J.B. Boda Insurance Surveyors & Loss Assessors Pvt. Ltd., Started operation in 1971, this firm is part of the J.B. Boda Group, which was founded in 1943 by by two brothers late shri J.B. Boda and late shri D.B. Boda a pioneer in reinsurance broking in India. The Group, with its global presence and extensive services, now includes J.B. Boda & Co. Pvt. Ltd., J.B. Boda Insurance & Reinsurance Brokers Pvt. Ltd., and Crowe Boda & Co. Pvt. Ltd. J.B. Boda Insurance Surveyors & Loss Assessors Pvt. Ltd. operates nationwide, covering all major and minor ports, as well as state capitals. Their core mission is to provide professional, independent, and timely services, always keeping the highest standards of integrity and ethical conduct. They specialize in a range of services, from inspecting vessels for cargo worthiness to conducting quantity and quality assessments for cargoes and providing crucial loss minimization surveys and claim surveys for underwriters. Their approach emphasizes meticulous data collection, open communication, and the strategic use of technology to make sure of accuracy and fairness in every loss assessment.
The firm is steered by an experienced principal surveyor team at different location, including Capt. Mr. Nitte Satish Chandra Bhandary, Mr. Prakash Martand Jog, Mr. Mantha Mangaraju, and Mr. Bishnu Chandra Parida, Biren Shah, Rusi Govekar and others. These leaders, with their collective wisdom and diverse backgrounds, embody the company’s commitment to excellence and client satisfaction.
With a rich legacy of over 50 years, the J.B. Boda Group has made strong international business associations, evidence of the foresight of its founder, the late Shri D.B. Boda, who extensively traveled globally. This has allowed the group to leave a significant mark worldwide, even during challenging post-nationalization eras in the industry. The group’s dedication to transparency and integrity has solidified its reputation as a global landmark in various insurance, reinsurance, survey, protection & indemnity, and life insurance services.
Their comprehensive suite of offerings for group, including Lender’s Insurance Advisory (LIA), Foreign Interest in India, Indian Interest Abroad (IIA), Claims Consultancy, Risk Inspection, Asset Valuation, and various specialized classes like Aviation & Space, Agriculture & Livestock, and Financial Lines & Casualty, demonstrates their commitment to addressing a wide array of client needs. Furthermore, their focus on training and seminars, alongside initiatives like the J.B. Boda Academy, highlights their dedication to knowledge sharing and industry development.
In the spotlight are Directors Capt. Mr. Nitte Satish Chandra Bhandary, Mr. Prakash Martand Jog, Mr. Mantha Mangaraju, and Mr. Bishnu Chandra Parida, in an interview for our prestigious “India’s 10 Most Prominent Loss Adjusting and Surveying Firms in India, 2025” edition. Learn from their insights and valuable lessons as entrepreneurs to excel and make it the best company. Stay tuned and know their tale of success.
Prime Insights: Can you introduce your firm and its mission in the loss adjusting and surveying industry?
We are marine and insurance surveyors, operating across all major and minor ports and state capitals throughout India. Our core mission is to deliver professional, independent, and timely services to our clients. We are committed to upholding the highest standards of integrity and ethical conduct in our work, making sure of trustworthiness and reliability in the loss adjusting and surveying industry.
Prime Insights: What inspired your firm to specialize in loss adjusting and surveying, and what challenges does it address?
The insurance business, especially when claims happen, is tricky because people expect their losses to be fully covered. Our job as surveyors is to stick to what the policy actually says to decide if a claim can be paid. The major challenge for us is to explain our decision clearly and convince the person claiming that it’s fair. We handle this by carefully checking everything and being very open about how we reached our conclusion.
Prime Insights: What are the key services your firm offers to clients in various industries?
We offer a range of key services to diverse clients. For ship owners and P&I clubs, we do thorough inspections of vessels to confirm their cargo worthiness. For those involved with cargoes, we provide required quantity and quality assessments. Underwriters depend on us for crucial Loss Minimization Surveys (LMS) and comprehensive claim surveys. Our goal is to provide precise and reliable information, helping in informed decision-making across the marine and insurance sectors.
Prime Insights: How does your firm make sure of accuracy and reliability in loss assessment and reporting?
We ensure accuracy and reliability in our loss assessments and reporting with an experience-driven approach. By using our extensive background in the industry, we focus on proper data collection and validation. We utilize reconciliation of data checklists to confirm all information is consistent and complete. This structured process allows us to establish clear procedures, ultimately leading to precise findings and trustworthy reports that our clients can depend on.
Prime Insights: Can you share an example of a significant case where your firm played a pivotal role in resolving claims?
In a recent claim for damaged rice in a warehouse, we did a survey and found the cargo had been stored beyond its legitimate period, as export demand had reduced. By checking the manufacturing date on the bags, we could resolve the issue, successfully saving the insurers from an illegitimate claim.
Similarly, in a case involving loss of fertilizer, we proved that the reduced micronutrient value could be restored by enriching it. Instead of advising a total loss, we recommended an additional processing cost, providing a practical solution that benefited all parties involved. These experiences show our proactive problem-solving.
Prime Insights: How do you handle complex claims that involve multiple stakeholders or intricate technicalities?
In handling complex claims involving multiple stakeholders or intricate technicalities, we employ a structured approach. Firstly, we meticulously identify all stakeholders and understand their interests. Our goal is to create a harmonious environment for discussion. We then use favorable communication channels to make sure of clarity and transparency in the process. When negotiations arise, we are prepared to negotiate and compromise with expert assistance, using specialized knowledge to find common ground. Finally, we use technology for continuous monitoring of the claim’s progress and to facilitate efficient conflict resolution, ensuring a smooth and fair outcome for all parties involved.
Prime Insights: What measures do you take to maintain transparency and fairness in your loss adjustment processes?
To maintain transparency and fairness in our loss adjustment processes, we take several crucial measures. We strive to give clear information about policies in simple, understandable language, avoiding jargon so policyholders fully grasp their coverage. We also prioritize open communication throughout the entire process.
Importantly, we treat all policyholders equally, ensuring every individual has the opportunity to present their case fully. This collaborative approach helps us arrive at a consensus. Ultimately, our decisions are always made impartially, solely based on thorough data analysis, ensuring a just outcome for everyone.
Prime Insights: How do you ensure compliance with regulatory standards and industry best practices in your operations?
We ensure compliance with regulatory standards and industry best practices through a continuous, proactive process. We constantly update ourselves with changes as they occur, carefully tracking new regulations and changing best practices. Once identified, we implement these changes through a defined mechanism within our operations. This systematic approach helps us to follow all necessary guidelines, making sure our processes remain robust, compliant, and up-to-date, thereby keeping the highest levels of integrity and professionalism in all our work.
Prime Insights: What role does technology play in enhancing your surveying and loss adjustment capabilities?
Technology plays a big role in enhancing our surveying and loss adjustment capabilities. We recognize that AI, for instance, is rapidly changing measurement techniques. Our focus is on staying updated, rigorously assessing the reliability and accuracy achieved with these new AI-driven methods. Once proven satisfactory, we start implementing them into our processes. Any technological advancement that reduces the potential for human error in our computations is a highly welcome tool for us, significantly improving the precision and efficiency of our surveying and loss assessment work.
Prime Insights: How do you build trust and long-term relationships with insurance companies and clients?
Our firm’s longevity in this field speaks volumes about the trust we’ve built with clients. As intermediaries in the insurance industry, we continually build that trust. We achieve this through fair and transparent claim assessments, ensuring timely reporting, and employing strong negotiation skills. Our commitment to these principles ensures we maintain reliable relationships and deliver consistent value.
Prime Insights: Can you describe your approach to addressing the unique needs of diverse industries like construction, manufacturing, or transportation?
All industries we cater to are exposed to high risks. Our approach involves meticulously analyzing past loss experiences and relevant data. This enables us to suggest the most suitable insurance cover tailored to their specific needs. Furthermore, we actively advise our clients on implementing robust risk management practices, helping them mitigate potential future losses and enhance their overall resilience.
Prime Insights: What sets your firm apart from competitors in terms of expertise and service delivery?
Our distinguished brand name and committed management truly set us apart from competitors. We also leverage our extensive network and unparalleled technical expertise, which further enhance our market differentiation. These strengths allow us to provide superior service, building strong, lasting relationships and ensuring our unique competitive edge in the industry. We believe these core attributes are key to our sustained success.
Prime Insights: How do you look after the changing demands of clients in India’s rapidly changing economic and industrial landscape?
In India’s rapidly changing economic and industrial landscape, we address evolving client demands by maintaining a strong customer-centric culture. We continuously use digital tools for data analysis, gaining deeper insights into new requirements. This, combined with our effective communication across all channels, ensures we remain perfectly aligned with our clients’ dynamic needs, adapting to industry shifts.
Prime Insights: What are your future goals for expanding your services or presence within the loss adjusting industry?
Our primary goals focus on achieving customer satisfaction via a personal approach. We adopt digital technology for faster claim resolution and design segment-specific covers. Crucially, we use data analytics for robust fraud detection. These commitments ensure we remain efficient, fair, and highly responsive to all our clients’ needs.
Prime Insights: What advice would you provide to companies looking for reliable loss adjusting and surveying partners?
We always emphasize the importance of choosing our partners wisely. We meticulously assess their capabilities, ensuring they can deliver effectively. Their reliability is paramount, and we thoroughly evaluate their market reputation. By carefully considering these crucial factors, we build strong, trustworthy collaborations that contribute significantly to our mutual success.
J.B.BODA – Group Offerings
- Direct Insurance Broking – Life & Non-Life – All Classes
- Reinsurance Broking – Life & Non-Life – All Classes – Treaty & Facultative
- Other Services – Reinsurance Optimisation, Loss Portfolio Transfer (LPT) / Run off, Catastrophe
- Modelling – Direct & Reinsurance Companies & related services,
- Parametric Solution
- Services for Non-Life & Life Reinsurance Actuaries
- Trade Credit – Domestic and Export
- Surety & Bond
- Extended Warranty
- Credit Life
- Agriculture & Livestock
- Renewable Energy
- Marine and Non-Marine Survey, Marine Inspection, Superintendent Services, Tank Calibrators,
- Samplers & Analysts, Onshore and Offshore Surveys
- Protection & Indemnity (P&I) Services – Shipowners & Charterers
- Lenders Insurance Advisor – LIA
- Indian Interests Abroad
- Services to Multinational Clients in India & Globally
- Services to Overseas Insurance Companies for their Global Clients
- Risk Inspection
- Asset Valuation – Land, Building, Plant & Machinery
- Wellness Services
- Training & Seminars
- Walnnut – Digital Corporate/ Retail Platform
- Any Other Specific Requirement
Facilitating:
- IT software solutions for Life, Non-Life & Health Insurance Companies
- Life Actuarial Services including Product Development, Valuation, IFRS 17, Gratuity Investment & other related services
- Employee Benefits Valuation – Gratuity, Leave Encashment, Pension Fund etc.
- Non-Life Actuarial Services including IFRS 17 & related services
- Investment Opportunities in India
- Capital Raising/Investment opportunities in other preferred countries
- Bancassurance Tie Up
- Insurtech Consultation
- Opening of Office in GIFT City – Ahmedabad – India
- Tie Up with Health Third Party Assistance (TPA) in India
- Any Other Specific Arrangements.
J.B.Boda The Journey
1943:
- The begining of the journey – Establishment of J.B.Boda & Company Pvt. Ltd.
1956:
- Establishment of Crowe Boda & Co.Pvt. Ltd. for Protection & Indemnity insurance service to Indian Shipowners & Charterers.
1965:
- The first mark outside India-Tanzania.
1967:
- Establishment of J.B.Boda & Co. Pvt. Ltd. – London (As a Liaison Office).
1971:
- Establishment of J.B.Boda Insurance Surveyors & Loss Assessors Pvt. Ltd. to cater to Marine & Non-Marine Survey.
1980:
- Establishment of J.B.Boda & Co. (S) Pte. Ltd. – Singapore.
1986:
- Establishment of J.B.Boda & Co. (UK) Ltd. – London.
2002:
- The First Indian Broker at Lloyd’s – UK.
2003:
- Establishment of J.B.Boda Insurance Brokers Pvt. Ltd. and J.B.Boda Reinsurance Brokers Pvt. Ltd.
2009:
- Establishment of office in Dubai.
2011:
- Establishment of office in Nepal.
2013:
- Establishment of office in Kenya.
2015:
- Establishment of office in Bangladesh.
2017:
- Establishment of J.B.Boda Insurance & Reinsurance Brokers Pvt. Ltd. (Composite Broker).
- Establishment of office in Indonesia.
2018:
- The Group reached remarkable milestone of completing 75 years.
- Establishment of office in Egypt.
2022:
- Establishment of office in Tunisia.
2023:
- J.B.Boda Completed 80 Years of Excellence.
2024:
- Establishment of office in Nigeria.
- Establishment of office in Zambia,
- Establishment of office in South Korea.
