The Insurance Regulatory and Development Authority of India (IRDAI) registers insurers and insurance intermediaries such as brokers, corporate agents, insurance marketing firms, web aggregators, surveyors and third party administrators. Each category has capital, qualification and conduct requirements. Foreign investment limits have been liberalised over time, so check the current cap before structuring.
Registration types
- Life, general, health and reinsurance companies
- Insurance brokers
- Corporate agents
- Insurance marketing firms
- Web aggregators
- Surveyors and loss assessors
- Third party administrators
General requirements
- Eligible entity
- Capital and net worth
- Principal officer with training
- Infrastructure and systems
Process
- Choose category.
- Incorporate entity.
- Apply to IRDAI.
- In-principle approval and final registration.
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Get expert help →Recent reforms
The government has moved to raise FDI limits in insurance and ease intermediary rules; confirm current regulations.
Frequently asked questions
Can banks sell insurance?
Banks act as corporate agents registered with IRDAI.
Do insurtech startups need IRDAI registration?
If they sell or compare insurance, they usually register as web aggregators, brokers or corporate agents.
How long does registration take?
Several months typically.
Is POSP a separate licence?
Point of Sales Persons are certified under intermediaries for simple products.
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