🧭 1. Introduction
A Corporate Agent License allows entities like banks, NBFCs, cooperatives, or companies to act as insurance agents for life, general, or health insurers under the IRDAI regulations. This license enables them to distribute insurance products and earn commissions.
🗂️ 2. Types of Licenses Offered
Under IRDAI (Registration of Corporate Agents) Regulations, 2015, there are three main types:
- Corporate Agent–Life Insurance
- Corporate Agent–General Insurance
- Corporate Agent–Health Insurance
Each license is valid for three years, renewable upon compliance.
🎯 3. Who Needs These Services?
The Corporate Agent License is ideal for:
- Banks and NBFCs
- Microfinance Institutions
- Retail Chains
- Cooperative Societies
- Startups/Fintechs looking to distribute insurance at scale
🤝 4. Why Choose a License Registration Service Provider?
Opting for a professional service provider ensures:
- Correct documentation and IRDAI compliance
- No delays or rejections
- Assistance with principal officer training & exam
- Post-registration compliance and POS setup
📝 5. Registration Process Step-by-Step
Here’s how to apply:
- Incorporate as a Company / LLP / Bank / NBFC
- Appoint Principal Officer (PO)
- Register for Principal Officer IRDAI Exam
- Prepare and compile required documents
- Submit IRDAI online application
- Pay ₹25,000 application fee
- Await IRDAI review & approval
- Receive Certificate of Registration
📋 6. Required Documents
Prepare these for submission:
- Certificate of Incorporation
- Memorandum & Articles of Association
- PAN, GST, TAN
- Board Resolution
- Principal Officer ID, exam certificate & CV
- Shareholding pattern
- Details of directors and KMP
- Audited financials (last 2 years)
- Infrastructure proof (office address, IT systems, manpower)
💸 7. Cost Involved
| Component | Approx. Cost (INR) |
| IRDAI Application Fee | ₹25,000 + GST |
| Professional/Consultant Fees | ₹30,000 – ₹75,000 |
| PO Training & Exam Fees | ₹5,000 – ₹10,000 |
| Legal & Compliance Costs | ₹10,000 – ₹15,000 |
| Total Estimate | ₹70,000 – ₹1,25,000+ |
⏱️ 8. Time Taken
| Stage | Timeline |
| Document Preparation | 5–7 working days |
| PO Training + Exam | 15–20 working days |
| IRDAI Application Processing | 30–45 working days |
| Total | 45–65 working days |
⚠️ 9. Common Mistakes to Avoid
Avoid the following to ensure approval:
- Submitting incomplete documents
- Not appointing a certified Principal Officer
- Poorly defined business plan
- Using an unregistered entity (proprietorships not allowed)
- Delay in PO certification or payment
📞 10. Call-to-Action (CTA)
✅ Ready to start your Corporate Agent journey?
📧 Email: opriyatrendingpvtltd@gmail.com
📱 WhatsApp: +91 7588756518
🌐 Website: www.opriyatrending.in
Let us handle your end-to-end IRDAI registration smoothly!
❓ 11. FAQs
Q1. Can an LLP apply for a Corporate Agent License?
➡️ Yes, LLPs, companies, and banks are eligible.
Q2. What is the validity of this license?
➡️ Three years, renewable on compliance.
Q3. Can a corporate agent work with multiple insurers?
➡️ Yes, up to 3 life, 3 general, and 3 health insurers.
Q4. Is IRDAI exam mandatory for the Principal Officer?
➡️ Yes, training + certification is a must before application.
Q5. Can we sell via POSPs under this license?
➡️ Yes, you can appoint POSP agents to expand outreach.
