Running a small business in India today means juggling many roles—owner, accountant, marketer, even crisis manager. But in the hustle, many MSME founders forget one key thing: protecting their business with the right insurance.
That’s where Reliance General Insurance, in collaboration with Financial Express, steps in with #WYFY MSME Season 3. This three-part webinar series talks directly to micro, small, and medium business owners in simple terms, not legal jargon.
With Tanya Krishna, Assistant Editor at Financial Express, as the moderator, these talks get to the point. They gather industry insiders, brokers, and policy experts who have supported MSMEs, not only from boardrooms but also through daily struggles.
For many MSMEs, insurance seems like an afterthought. It’s something you pay for but rarely use. The first session titled, Affordable Insurance, Scalable Growth: What MSMEs Really Need Today flipped that notion by showing how smart, well-tailored coverage can actually unlock scale and stability.
The panel included Rakesh Chhabra, Vice President, FISME, Pawan Babu, Director, Prisha Insurance, G. Vamshi Raju, MD & CEO, Visista Insurance, Jaghann Muddigunda, Director, Apex Insurance and Jai Govind Tripathi, CEO, Sorigin Insurance Broker Pvt Ltd.
“MSMEs are mostly unorganised and unaware of the risks they face. Insurance is often an afterthought, and even when taken, it is rarely understood or tailored to their needs. Claims suffer due to poor documentation and a lack of process awareness. What we need now are clear campaigns from the government and insurers to educate MSME owners. Only then will insurance truly help them.” Jaghann Muddigunda, Director, Apex Insurance
The second session struck a deeper chord, titled Insurance as a Business Investment: Not Just a Backup Plan presented insurance as a key asset instead of an emergency cost. This helps build credibility and can lead to loans, partnerships, and government contracts.
The panel included M. V. Kameswara Rao, Chair – Centre for Financial Inclusion, NIMSME, Kartik V. Shah, Vice President – Probitas Insurance Brokers Private Limited and Amit Goel, Director – Equirus Raghnall Insurance Brokers Private Limited.
“Several new initiatives have come up, like PM Mudra loans and similar government-backed schemes, many of which are now covered under CGTMSE. These are big steps. But beyond funding, we must also sensitize entrepreneurs to the role of insurance in ensuring business continuity. Whether it’s natural disasters or other setbacks, insurance helps absorb shocks. Both the government and insurers are working on solutions that align better with the needs of MSMEs.” M. V. Kameswara Rao (NIMSME, Centre for Financial Inclusion)
Often the most ignored area of MSME operations—risk management—was placed front and center. The session titled, Small Business, Big Risks: Why Risk Management Should Be a Priority didn’t just discuss threats like fire or theft, but modern risks too—like cyberattacks, downtime, and liability exposure.
The panel included Dr. Harjinder Kaur Talwar, Member – National MSME Board (FICCI), Abhishek Bondia, Co‑Founder – Securenow Insurance Brokers, Srinivas Bhagavatula, Principal Officer – Connect Insurance Broking, Madan Mohan Badi, Director & COO – WMG Risk Advisory and Kapil Mehra, Director – Lion Insurance Brokers
“MSMEs are always entangled in day-to-day operations. Their main concern is cash flow and short-term needs. Risk is not something they face daily, so the mindset is ‘we’ll deal with it when it comes.’ But by then, it may be too late. For example, cyber risks today are real. If you’re attacked, you can’t start preparing then. You need firewalls and protective systems in place beforehand. Risk management must happen at the right time, not after the damage is done.” Dr. Harjinder Kaur Talwar (FICCI, MSME Board)
Why These Conversations Matter
MSMEs are often called the underdogs of India’s economy. But they are much more than that. They create jobs, build local solutions, and keep the wheels of everyday India turning. What they often lack isn’t ambition or resilience. It’s timely access to the right guidance.
These three sessions are designed to bridge that gap. They go beyond insurance products. They build awareness, shape mindsets, and remind every business owner that being small doesn’t have to mean being exposed to big risks.
Disclaimer:
This article contains sponsored content that may not reflect the independent opinion or views of FinancialExpress.com. Further, FinancialExpress.com cannot be held responsible for the accuracy of any information presented here. Please consult a certified financial advisor before making any decisions based on this article.