Insurance Regulatory Advisory

Insurance — IRDAI

From broker and web aggregator licences to TPA registration and annual IRDAI filings, the insurance sector carries some of the strictest capital, governance, and reporting requirements of any regulated industry in India.

Intermediary Licenses

5 Services

Insurance Broker License

Get your IRDAI insurance broker licence to legally solicit, procure, and service insurance business across classes.

Web Aggregator License

Corporate Agency License

Obtain your IRDAI corporate agency licence to distribute insurance products as a bank, NBFC, or corporate entity.

Insurance Marketing Firm

Set up and register your Insurance Marketing Firm with IRDAI to distribute multiple insurers' products at the point of sale.

ISNP Insurance Certification

Obtain your Insurance Self-Network Platform certification to sell insurance products through your own digital platform.

Specialized Registrations

2 Services

TPA License

Get your Third Party Administrator licence from IRDAI to process health insurance claims and services.

Surveyors & Loss Assessors

Get IRDAI-licensed as a surveyor and loss assessor to professionally assess and certify insurance claims.

Company Registration & Compliance

2 Services

Insurance Company Registration

Structure and register a new insurance company with IRDAI, from capital compliance to certificate of registration.

Annual IRDAI Compliance

Stay on top of your annual IRDAI returns, disclosures, and renewal filings without risking licence suspension.

Understanding insurance regulation and IRDAI licensing

What this section covers

Insurance in India is governed by the Insurance Act, 1938 and the Insurance Regulatory and Development Authority Act, 1999. The Insurance Regulatory and Development Authority of India (IRDAI) registers insurers and licenses the intermediaries that sell, service or assess insurance. Each type of intermediary has its own IRDAI regulations covering eligibility, capital or net worth, qualified personnel, code of conduct and reporting.

The framework was amended by the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025, which, among other changes, permits foreign direct investment of up to 100 per cent in Indian insurance companies and moves intermediaries towards one-time registration. Many operational details are set by IRDAI regulations issued after the amendment, so requirements should be checked against the latest notifications.

This section covers setting up an insurance company, the main intermediary licences (brokers, corporate agents, web aggregators, insurance marketing firms, third party administrators, and surveyors and loss assessors), permission to sell insurance online through an insurance self-network platform (ISNP), and the recurring returns and compliance that follow registration.

Who needs these services

Promoters and foreign investors planning to set up a life, general, health or reinsurance business in India.
Banks, NBFCs, retailers and other businesses that want to distribute insurance to their customers as corporate agents.
Broking firms that want to represent clients across insurers, and insurtech platforms that want to compare policies online.
Health claims administrators seeking a TPA licence, and individuals or firms seeking a surveyor and loss assessor licence.
Existing licensees who need to keep up with annual returns, inspections, renewals and changes in shareholding or key personnel.

How to choose between the services

If you want to underwrite risk and issue policies yourself, the route is insurance company registration, which involves the highest capital and the most detailed IRDAI review.
If you want to distribute insurance, the choice depends on whom you act for. An insurance broker licence suits a business that acts for the client and deals with several insurers. A corporate agency licence suits a business that distributes on behalf of a limited number of tie-up insurers, often alongside its main business.
If distribution is mainly online, a web aggregator licence covers comparison platforms, while ISNP certification is relevant where an insurer or eligible intermediary sells through its own website or app.
If you want to sell insurance and other financial products through a local sales network, an insurance marketing firm licence is designed for that model.
If your work is servicing rather than selling, a TPA licence covers health claims administration, and the surveyors and loss assessors licence covers assessing general insurance claims.
Once licensed, IRDAI annual compliance covers periodic returns, audits and disclosures.

All licences are granted at IRDAI’s discretion after review. Expertvuw assists with documentation and coordination; certifications are issued by independent professionals where required.

All services in this section

Frequently asked questions

What is the difference between an insurance broker and a corporate agent?

A broker generally acts on behalf of the client and can place business with multiple insurers, while a corporate agent represents the insurers it has tie-ups with and distributes their products, usually alongside another main business. The two licences have different IRDAI regulations, eligibility conditions, net worth requirements and limits on the number of insurers, which are revised from time to time.

Is 100 per cent foreign investment allowed in Indian insurance companies?

The Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025 permits foreign direct investment of up to 100 per cent in Indian insurance companies. The actual entry route, conditions and related FDI policy changes depend on government and IRDAI notifications. Anyone planning foreign investment should check the latest FDI policy and IRDAI regulations before structuring the investment.

What is ISNP certification?

An Insurance Self-Network Platform is an electronic platform, such as a website or app, set up by an insurer or eligible intermediary with IRDAI permission to solicit and sell insurance online. The permission generally involves IRDAI’s conditions on information security, audit, disclosure and customer servicing. Current requirements should be read from IRDAI’s latest regulations and guidelines on electronic distribution.

Who needs a surveyor and loss assessor licence?

Individuals and firms that assess losses under general insurance claims, such as fire, marine, motor or engineering claims, generally need a licence from IRDAI. Eligibility depends on qualifications, training and the category of work. Insurers are generally required to use licensed surveyors for claims above thresholds prescribed by the government and IRDAI, which are revised from time to time.