Topspot Insurance Broking (commercially known as ‘insurancepe’ – www.insurancepe.com), has gone a step beyond insurance business – from new business, renewals, premiums, claims, insurance education to owning insurance patents. A patent in the field of insurance is unheard of. Any patent is possible only in the field of Science & Technology. On hearing about a ‘patent’ in insurance, one is bound to ask: “What are you talking about? Patent in the field of insurance? Impossible!”
For the purpose of clarity, the definition of patent is as follows: A patent is owned / secured when the Government Authority confers License or Right or Title or all, for a specific period to an entity or an individual. Thus, owning a patent excludes all others from making, using and selling the patented invention.
No individual, no insurer and for that matter no one in the world owns a salvage patent in insurance. In fact, both patent and insurance are polar opposites! Given this impossibility it is inconceivable to own a patent in insurance. M/s Topspot Insurance Broking is formally awarded patent in the field of Insurance by the PATENT OFFICE, GOVERNMENT OF INDIA in March, 2025. This makes Topspot Insurance Broking as the only organization to achieve this unique distinction, in the field of insurance.
The patent secured is an invention entitled “SYSTEM AND METHOD FOR VERIFYING AND TRACKING THE MANUFACTURED ARTICLES FROM INSURANCE SALVAGE”. The grant of patent is already published in the official journal of the patent office under section 43 of the Indian Patent Act.
The Government of India launched Suraksha Bharat. This is a Sanskrit phrase. When translated to English, it means ‘Safe India’. In other words, India which is safe – all citizens will be safe, free of road accidents, untimely deaths, erratic traffic, orphaned children etc. How nice it would be if every driver wore a seat belt or helmet, did not use their mobile phones while driving, stopped at red traffic signal, gave way to pedestrians and at the zebra crossing, how safe our roads will become – Suraksha Bharat.
Every time we discuss this, we say we do not have a specific legislation, or we need to enact some new law. We do have the Motor Vehicles law. But are we following it? Millions are getting injured, lakhs die in road accidents, billions of rupees worth properties are destroyed in these accidents; and above all – the anguish of suffering families, the desperation and the loss of time.
An individual, a family or a community may lose a lot due to an accident. But do not forget that it is India that is ultimately losing. It is our country that has lost due to these unfortunate accidents.
Do we have any solution in Suraksha Bharat? We follow the law in letter but violate in spirit. For instance, we are required to wear a helmet. A bike rider wears helmet but without fastening it, loosely placing it over the head. A pillion rider never cares to wear helmet at all. A car driver on spotting a policeman, quickly pulls across the seatbelt. And in the absence of the policeman, the same driver would jump the red traffic signal. Who are we cheating? You could cheat me, cheat the world and perhaps even cheat the god, but when you cheat yourself, your very existence is diminished.
Suraksha Bharat is beyond teaching & preaching – it is practicing safety, it is a way of life. Accident happens only once. We have not seen anybody dying twice or losing the same limb twice! But we did see people having accidents and perishing in them. It’s the time to practice, but who practices? How do we tell people to practice? How should we aid the commendable efforts of the Indian government on practice of safety? How can we make the dream of a Safe India come true?
Topspot Insurance Brokers have thought of something new, yet as ancient as the hills; unique, yet as common as common could be; something beyond imagination, yet something than can be conceived by an ordinary person. We have invented a new, unique, pragmatic and patented way of asking people to practice safety. A new and hitherto unexplored way. An exciting way. We have discovered an innovative method of practicing safety where people voluntarily commit themselves to practice positive safety. The beauty of this patent is that this patent does not teach, preach or give a message on the practice of safety.
What is positive safety? Readers are requested to recall the definition of Utmost Good Faith. Was it not defined as “a positive duty, to voluntarily disclose all material facts, accurately and fully, whether asked or not” It is exactly from this definition did we borrow the phrase of “positive safety”. A positive duty to positive safety. Thus, positive safety means being more than safe, voluntarily. It means, the onus of being safe is slowly being shifted from the CCTV cameras, speed radars and the sneaking policeman to the citizen himself.
This patent aims to make people voluntarily and positively commit themselves to practice safety. A small effort in aiding the dream of a safe society. A footnote to a footnote written here that pursues in its own small way the aim of Suraksha Bharat a reality.
The insurance industry has a huge role to play. Insurance will cease to be a contract between the insured and the insurer. Non-life insurance contracts will go beyond the principle of indemnity. This industry, through this patent, will have a human face. The famed catch phrase of LIC of India “Zindagi Ke Saath Bhi and Zindagi Ke Baad Bhi” would have acquired a new dimension – the dimension of going beyond the payment of a claim.
“Are you in a Utopian state? Day dreaming? Or both?” You may reproach us. Let us assure you all, this is the very essence of this patent. The aim of this patent, indubitably, is ‘the greatest safety of the greatest number of people . We are not asking you to believe us. All we say is to kindly read these article series; your belief will be a by-product!
Authored By:
Dr K. Rajagopal Reddy
PhD, FIII, FCII (UK), FLMI (US), FT
Chartered Insurance Practitioner
Topspot Insurance Broking Pvt. Ltd.
