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Insurance Self Network Platform

Insurance Self Network Platform in Chennai

An Insurance Self Network Platform (ISNP) license is a regulatory approval provided by the IRDAI that allows insurers and intermediaries to establish their own digital platform to sell insurance products directly to customers. ISNPs enable real-time insurance distribution and policy servicing via self-operated websites or apps, enhancing user convenience and reducing dependency on third-party platforms.

At Laams Tax Consultancy, we offer comprehensive support for obtaining an Insurance Self Network Platform (ISNP) License in Chennai, ensuring full IRDA compliance, technical guidance, and seamless documentation for businesses looking to digitize their insurance offerings.

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Mandatory Documents

Registration Process

Benefits

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Requirements and Eligibility for Insurance Self Network Platform in Chennai

1. Entity Registration

Must be an IRDA-licensed insurer or intermediary (such as brokers, web aggregators , or marketing firms).

2. Website Ownership

Applicant must have a dedicated domain/platform under their brand for insurance selling for brokers.

3. Infrastructure Compliance

Secure hosting, data encryption, transaction logging, and user privacy protocols are mandatory.

4. Principal Officer

A designated Principal Officer must oversee ISNP operations and be compliant with IRDA's educational and professional criteria.

5. Capital and Net Worth

The applicant must meet the minimum net worth applicable to their existing IRDA license category.

Documents Required for ISNP License in Chennai

Business Entity Proof

Submit a copy of the IRDA-issued insurance license along with incorporation documents like Certificate of Incorporation, MOA, and AOA. These confirm your legal eligibility and prior approval to operate in the insurance domain. Clear mention of ISNP activities in your business scope is essential.

Infrastructure Details

Provide a comprehensive overview of your digital infrastructure, including website or mobile app architecture. Include cybersecurity protocols, data privacy measures, hosting frameworks, and UI/UX designs. IRDAI evaluates whether your platform ensures secure, seamless, and compliant digital transactions for users.

Principal Officer Credentials

Furnish documents related to the Principal Officer’s educational background, technical certifications, and formal appointment or authorization. This demonstrates the individual’s capability to oversee ISNP operations. Their understanding of insurance, tech, and regulatory compliance is a key licensing factor.

IT & Cybersecurity Audit Reports

Submit third-party IT audit and cybersecurity compliance reports validating your digital platform’s resilience. These should cover firewalls, encryption, server logs, access control, and data recovery systems. IRDAI mandates robust cyber-readiness to safeguard policyholder data and digital transactions.

Board Resolutions

Provide board-approved resolutions authorizing the establishment of the ISNP and appointing the Principal Officer to manage it. This confirms internal governance support and operational accountability. The resolution should explicitly state intent and designate specific responsibilities aligned with regulatory norms.

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ISNP Registration Process in Chennai

Step 1: Technical Assessment & IRDAI Compliance Check

We begin by evaluating your existing IT infrastructure, security protocols, and digital architecture. Our experts identify gaps based on IRDAI’s ISNP Guidelines, ensuring your platform meets the mandatory technical, data privacy, and operational standards.

Step 2: Document Preparation & Compilation

We assist in gathering and organizing all required documents, including:
• Valid IRDAI Insurance License
• Board Resolution approving ISNP launch
• Detailed IT Architecture with data flow diagrams
• Principal Officer’s training and certification documents
• Risk management, grievance redressal, and data protection policies
All documents are formatted as per IRDAI’s annexure specifications.

Step 3: ISNP Application Submission on IRDAI Portal

Your ISNP registration application is filed through the official , IRDAI portal. We ensure all annexures, formats, and digital compliance details are correctly uploaded to meet technical and legal requirements.

Step 4: IRDAI Review & Clarification Process

IRDAI reviews your application, evaluating your digital capabilities, platform readiness, and backend integration plans. If any queries or compliance clarifications are raised, we respond promptly and coordinate revisions if needed.

Step 5: License Grant & Platform Authorization

Upon successful review and clearance, IRDAI issues the ISNP License, and Insurance Company License allowing your organization to operate a fully compliant digital insurance platform and facilitate seamless online policy transactions.

Benefits of IMF Registration in Chennai

Direct Digital Distribution: Sell insurance directly to customers via your own secure online platform.

Reduced Operational Cost: Minimize reliance on third-party platforms and intermediaries.

Enhanced Customer Engagement: Real-time policy issuance, renewals, and support from your platform.

Regulatory Recognition: Operate with official IRDA approval and gain consumer trust.

Brand-Centric Digital Control: Maintain full branding and user experience ownership on your portal or app.

Why Choose Laams Tax Consultancy?

With deep experience in digital insurance licensing, Laams helps you establish a compliant, secure, and user-friendly ISNP platform.

Full-Spectrum IRDA Advisory

From infrastructure compliance to PO qualification and audit coordination.

Technical Support Alignment

We work alongside your IT team to align the website/app with ISNP norms.

Fast & Efficient Process Handling

Our experts handle all IRDA communication and submission workflows.

Trusted Partner in Tamil Nadu

Businesses across Chennai rely on us for insurance and digital compliance solutions.

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