Forbes India 15th Anniversary Special

Sumedh Basani: The force shaping the insurance industry

Sumedh's platform has brought agencies an excess of 20 million in production in 2019 alone

Published: Jun 18, 2020 10:31:27 AM IST
Updated: Jun 18, 2020 12:33:06 PM IST

Sumedh Basani: The force shaping the insurance industry

Sumedh Basani has become a strong force in the insurance industry. He is now an investor in many businesses and a successful entrepreneur, being the President and CEO of Basani Financial. He has made a name for himself in the financial services industry, where he changed the reputation of what was regarded as a money-making industry where financial professionals can genuinely grow. He built sales systems and marketing platforms used by thousands of financial professionals in the insurance and healthcare industry which continues to rise to popularity. The innovation and the returns made by Sumedh's system have entirely improved his organizations and large financial firms in terms of growth. However, five years ago, Sumedh had a completely different life.

Believe it or not, before becoming a renowned entrepreneur earning millions and making a difference in so many people's lives, Sumedh hit rock bottom. He was a homeless college student struggling to study, trying to find out where he was sleeping at night or what he was going to eat every day. It all changed when he got an offer to work part-time at a local nightclub. Although it was something he wasn't used to working, it was where he met very influential people in the city. Seeing these successful businessmen and self-made individuals ultimately made him decide to leave school and follow entrepreneurship. Little did he know, he was on his way for something greater than he could ever imagine.

Sumedh has come a long way since then. Today, he owns many companies, including his financial firm, Basani Financial, and his own marketing company. Through his marketing and insurance firm, he creates competitive lead acquisition programs that allow agencies to work with high-intent clients and convert at a much larger scale. Aside from top-level contracts, it also offers the highest quality agent resources, client and agent management system, and next-level client acquisition in marketing as Sumedh's mission to uphold a reputation of helping agents and clients. Most importantly, Basani Financial provides a degree of transparency not seen in the financial industry.

Sumedh's platform has brought agencies an excess of 20 million in production in 2019 alone and continues to grow in sophistication. All of Sumedh's top agents enjoy a great deal of success and are known as industry leaders. Agents from his many organizations dominate carrier leaderboards and owe much of their success to his agent resources and training material.

Until today, Sumedh is very active in his role by working closely with every agency that placed their business under his company. His leadership and constant innovation in the training of insurance professionals have pushed him to the top. Sumedh now has operations based both in 48 states in the United States and in India.

Sumedh attributes his success to a combination of dedication, grit, guts, and passion. If you asked him five years ago, if he will become successful, Sumedh would look at you with a crushed spirit, and say no. But fast forward to today, he became a great example that no matter how hard your situation can become, you can always turn your life around.

Disclaimer: The views, suggestions and opinions expressed here are the sole responsibility of the experts. No Forbes India journalist was involved in the writing and production of this article.