Insurance Broker License

1. Company Incorporation

Must be a registered company with a business objective of insurance broking in the MOA.

2. Minimum Capitalization

Rs.50 lakhs for direct brokers, Rs.75 lakhs for reinsurance, and Rs.5 crores for composite brokers.

3. Qualified Personnel

Principal Officer and key employees must have IRDA-recognized broker certification.

4. Infrastructure Readiness

Must have a physical office, systems, and support infrastructure in place.

5. Professional Indemnity Insurance

Brokers must maintain insurance to cover liabilities arising from their services.

Step 1: Pre-Registration Guidance & Category Selection

We begin by helping you identify the appropriate broker category as per IRDAI norms – Direct Broker, Reinsurance Broker, or Composite Broker. Our team assists in setting up the required infrastructure, verifying Principal Officer eligibility, and ensuring minimum capital requirements (₹75 lakh to ₹5 crore based on the broker type).

Step 2: Document Preparation & Compliance Review

Our experts compile and verify all necessary documents, including:
• Certificate of Incorporation, MOA & AOA
• KYC documents of promoters and directors
• Net worth certificate from a CA
• Principal Officer qualification proof and training certificates
• Infrastructure declaration and business plan
We ensure all documents align with IRDAI’s prescribed format and compliance requirements.

Step 3: Online IRDAI Application Submission

We submit the broker license application through the IRDAI portal, ensuring all entries and uploads are accurate. Our team handles all procedural formalities to prevent rejections or delays during the application review.

Step 4: Fit & Proper Evaluation by IRDAI

IRDAI conducts a “Fit & Proper” assessment of the company’s promoters and key managerial personnel to evaluate their integrity, qualifications, and financial soundness. We assist in addressing any queries raised during this critical review phase.

Step 5: License Grant & Operational Approval

Upon successful completion of compliance checks and IRDAI's satisfaction, the Insurance Broker License is issued. Your organization can now legally operate as an IRDAI-licensed insurance broker in India.

We possess in-depth knowledge of IRDAI broker regulations, ensuring you receive accurate guidance at every stage of the process. Our team stays updated with every notification and compliance requirement to avoid unnecessary delays or rejections.

From initial consultation and document preparation to final license issuance, we manage the entire process. Our streamlined approach eliminates paperwork hassles and ensures a smooth experience throughout your registration journey.

With pre-vetted document kits, internal review checklists, and IRDAI-compliant templates, we speed up each milestone. We closely monitor timelines to avoid last-minute delays or rejections during scrutiny.

Based in Chennai, our team supports insurance startups and corporate clients across Tamil Nadu. We also provide allied services like Private Limited Company Registration, Digital Signature Certificate, and TDS Return Filing.