An Insurance Web Aggregator is an IRDAI-authorized intermediary featuring a website that allows users to compare insurance products from multiple insurers, generate leads, and share them with partner insurers. The role ensures transparency and consumer empowerment in a digital-first insurance marketplace.
🧾 2. Types of Licenses Offered
Under the IRDAI (Insurance Web Aggregators) Regulations, 2017, the license is:
- Single unified Web Aggregator License (no sub-categories)
- Certificate of Registration (CoR) valid for 3 years, renewable
👥 3. Who Needs These Services?
- Startups & Platforms offering insurance price comparisons
- Fintechs/Portals generating insurance leads
- Existing B2C/B2B websites seeking value-add with embedded insurance options
- Digital-only insurance marketplaces like PolicyBazaar, who drive ~25% of India’s online life insurance distribution
🤝 4. Why Choose a License Registration Service Provider?
A specialized consultant can assist with:
- Creating MoA/AoA as per IRDAI norms
- Preparing Form A/B and CoR documentation
- Ensuring minimum ₹25 lakh paid-up capital and evolving net‑worth monitoring system
- Appointing trained Principal Officers & Authorized Verifiers
- Assuring infrastructure readiness (IT, data security, compliance)
📝 5. Registration Process – Step by Step
- Set up Company/LLP under Companies Act, 2013
- Verify capital/net-worth (≥₹25 lakh paid-up + unencumbered net‑worth)
- Appoint Principal Officer & Verifiers; ensure IRDAI training/exam compliance
- Apply for NOC (to reserve entity name with RoC)
- Submit Form A + ₹10,000 application fee (DD or e-transfer)
- Upload Form B, declarations, MoA/AoA, CA net‑worth certificate, IT‑infra evidence
- Undergo IRDAI review (queries answered within 30 days)
- Obtain Certificate of Registration (valid 3 years, renewable)
📑 6. Required Documents
- Certificate of Incorporation
- MoA & AoA / LLP agreement (insurance aggregation as main object)
- PAN, GST & CA-certified net-worth certificate
- Principal Officer & Authorized Verifiers’ CVs, training/exam certificates (§ Form C)
- Business plan, IT infrastructure specs, domain proof, lead-gen workflow
- Declaration of no infractions (fit‑and‑proper status)
💰 7. Cost Involved
| Expense | Approx. Cost (₹) |
| Application Fee | 10,000 |
| Consultant Support | 30,000 – 60,000 |
| CA‑verified Net‑Worth Certificate | 5,000 – 15,000 |
| IT/Compliance Setup | 50,000 – 2 lakh |
| Total Estimate | ₹95,000 – ₹3 lakh+ |
⏱️ 8. Time Taken
- Entity Incorporation & infra prep: 2–4 weeks
- Training & certificates: 2–3 weeks
- Form A/B submission: 1 week
- IRDAI review & queries: 4–6 weeks
- Overall duration: 2.5–4 months
⚠️ 9. Common Mistakes to Avoid
- Insufficient or encumbered capital
- Lack of trained Principal Officer or Authorized Verifier
- Inadequate IT/compliance structure
- Errors in MoA/AoA or regulatory clause omission
- Delayed submission of net-worth declarations (due Mar & Sep annually)
📞 10. Call-to‑Action (CTA)
Want to launch your IRDAI‑approved Web Aggregator platform?
📧 Email: opriyatrendingpvtltd@gmail.com
📱 WhatsApp: +91 7588756518
🌐 Visit: opriyatrending.in 🔗 web link icon
❓ 11. FAQs
Q1. What’s the paid‑up capital requirement?
- Minimum ₹25 lakh; net worth must match or exceed this at all times.
Q2. Who is Principal Officer?
- A trained/exam‑certified director responsible for IRDAI compliance.
Q3. Validity & renewal?
- CoR is valid for 3 years, with renewal application via Form F 30 days before expiry.
Q4. FDI allowed?
- Yes, up to 49% foreign equity in line with IRDAI norms.
Q5. Can web aggregators do telemarketing?
- Only with pre‑approval from IRDAI; otherwise direct marketing is prohibited.
