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Insurance Web Aggregator License

Insurance Web Aggregator License in Chennai

An Insurance Web Aggregator License allows businesses to operate a digital platform that displays insurance products from various providers for customer comparison and purchase. Regulated under the IRDAI (Web Aggregators) Regulations, this license ensures transparency, fair practices, and unbiased insurance information. Companies operating web-based platforms for insurance lead generation or aggregation must secure this license to comply with IRDA norms.

At Laams Tax Consultancy, we offer expert advisory and end-to-end support for Insurance Company License in Chennai, including compliance consultation, documentation, and portal readiness under IRDA Registration Support in Tamil Nadu.

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Mandatory Documents

Registration Process

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Requirements and Eligibility for Insurance Web Aggregator License in Chennai

1. Company Registration

Must be a public or private limited company registered under the Companies Act. This legal structure ensures accountability and transparency for regulatory scrutiny.

2. Dedicated Website

The applicant must own a functioning website that complies with IRDAI-prescribed content and disclosure norms. It should include business, grievance redressal, and contact information.

3. Principal Officer

A qualified Principal Officer (PO) with IRDAI-specified certifications from approved institutes is mandatory. The PO must have industry knowledge and pass the relevant exam.

4. Capital Requirement

A minimum net worth of ₹25 lakhs must be demonstrated through audited financials or a Chartered Accountant's certificate to ensure operational and compliance capability.

5. Infrastructure

The company must maintain adequate IT infrastructure, cybersecurity protocols, and data protection frameworks to securely handle client and transaction data.

Documents Required for Insurance Web Aggregator License in Chennai

Identity Proof

PAN and Aadhaar cards of all directors, the principal officer, and shareholders must be submitted for verification. These documents help establish the legal identity and background of key stakeholders. Ensure the copies are self-attested and clearly legible to avoid compliance issues.

Business Entity Documents

Submit the Certificate of Incorporation, along with the Memorandum and Articles of Association (MOA & AOA). These should explicitly reflect the business objective of operating as an insurance web aggregator. IRDAI reviews these to ensure alignment with aggregator-specific regulatory clauses.

Financial Statements

Provide the latest audited financial statements to demonstrate financial health, capital adequacy, and operational readiness. This assures IRDAI of your ability to sustain operations and invest in compliant digital infrastructure. Consistent financial discipline enhances application credibility.

IT System Details

Documentation must include website architecture, security protocols, compliance checks, and hosting environment. IRDAI requires a robust and secure digital framework that ensures user data protection and smooth aggregation services. Submit technical diagrams, cybersecurity measures, and system audit reports if available.

Principal Officer Documents

Submit the principal officer’s educational certificates, IRDAI-mandated training completion, and employment history. The principal officer must fulfill qualification, fit and proper, and experience criteria. This role is central to regulatory compliance and day-to-day operations of the aggregator platform.

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Insurance Web Aggregator License Process in Chennai

Step 1: Platform Evaluation & Compliance Check

We begin by auditing your website or web platform for IRDAI’s technical and regulatory compliance. This includes reviewing data encryption, hosting infrastructure, user data security, and comparison tools. Our team provides actionable guidance to align your platform with IRDAI’s standards.

Step 2: Document Compilation & Readiness

We assist in collecting and organizing all required documents, including:

  • Company incorporation and registration documents
  • Details of IT infrastructure and control systems
  • Resumes and qualifications of Principal Officer and key personnel
  • CA-certified net worth and financial reports
  • Content and disclaimer formats for the website

Every document is reviewed for accuracy and completeness before submission.

Step 3: Online Application Submission

Your license application is submitted through the IRDAI portal . We ensure the application forms are accurately filled and all supporting documents are properly uploaded to avoid processing delays.

Step 4: IRDAI Review & Screening

IRDAI assesses your platform for adherence to guidelines, evaluates the eligibility of your Principal Officer, and may request clarifications. We coordinate all responses and work closely with the authority for timely resolution.

Step 5: License Issuance & Certification

Once all requirements are verified and cleared, IRDAI issues the Insurance Web Aggregator License. Your platform is now legally authorized to display, compare, and facilitate insurance policy leads online in compliance with IRDA regulations.

Benefits of an Insurance Web Aggregator License in Chennai

Digital-First Business: Legally operate a web platform for showcasing insurance quotes and plans.

Lead Generation Advantage: Build a customer base through unbiased insurance comparisons.

Increased Visibility: Gain credibility with customers and insurers alike.

Revenue Diversification: Earn commission-based revenue from insurers under defined IRDA norms.

Future-Ready Compliance: Stay ahead in digital insurance selling with regulatory backing.

Why Choose Laams Tax Consultancy?

We simplify the Web Aggregator license journey with full-spectrum consulting and process management.

IRDA Compliance Expertise

Our team is well-versed in Web Aggregator norms and digital documentation.

End-to-End Process Handling

From PO qualification to website structure, we manage every element.

Quick Turnaround Time

Our document kits and templates accelerate approval timelines.

Trusted Advisors in Chennai

Known for quality, Laams serves businesses across Tamil Nadu with digital licensing.

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