According to IRDAI rules, a business must get a Corporate Agent License to sell insurance products as a Corporate Insurance Agent. The registration process involves meeting compliance requirements, net worth criteria, and documentation requirements.
At Registrationwala, our experts help you with the complete Corporate Agent License registration process. We assist with documentation, application filing, and approval, ensuring compliance with IRDAI regulations.
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corporate insurance agent License Process
Corporate Insurance Agents, or simply known as Corporate Agents, are companies, cooperative societies, LLPs, NGOs, Rural Banks, NBFCs or Micro Finance Lending Organizations that participate in soliciting, procuring or servicing the insurance business of life insurers, general insurers, and health insurers. They differ from individual agents in that they operate as organized entities rather than as individuals. As per the IRDAI (Insurance Regulatory and Development Authority of India) Regulations, 2015, the registration of Corporate Insurance Agents with the IRDAI is mandatory.
These regulations were enforced w.e.f. 1st April 2016, and since then, a large no. of corporate agents have been registered under this framework. After successful registration of a corporate agent, they receive a Certificate of Registration a.k.a IRDAI corporate agent license. This license serves as proof that the corporate agent is duly authorized by the IRDAI to carry on the business as a corporate agent.
The role of corporate agents is indispensable as they act as key intermediaries between insurers and customers. They facilitate policy distribution as well as servicing. By making insurance products more accessible and widely available in Indian households, these agents improve insurance penetration across the country.
There are 4 types of Corporate Insurance Agents in India
Corporate Insurnace Agents (Life) are authorized to sell life insurance products. They can have arrangements with a maximum of nine life insurers to solicit, procure and service their insurance products.
Corporate Insurance Agents (General Insurance) are authorized to sell general insurance products and can have arrangements with a maximum of nine general insurers to solicit, procure and service their insurance products.
Corporate Insurance Agents (Health) are permitted by IRDAI to sell health insurance products. They can have arrangements with a maximum of nine health insurers to solicit, procure and service their insurance products.
Corporate Insurance Agents (Composite) are authorized to sell life, general and health insurance products. They may exceed the limit for each category as long as the total arrangements across all three categories do not exceed twenty-seven at any point of time.
Registering with IRDAI as a corporate insurance agent offers a plethora of benefits, including the following ones:
An IRDAI corporate agent license serves as a legal authorization that enables a non-individual entity to act as an intermediary in the insurance sector.
Corporate agents often tend to have a regular stream of income. They earn through commissions on each policy they sell or service, including renewals.
A non-individual entity with an IRDAI corporate agent license is perceived as more credible and reliable and therefore, finds it easier to long-term relationships with customers.
The corporate agents can tie up with multiple insurers. As a result, they get to offer a wide range of insurance products to their customers.
The eligibility criteria for corporate agency license must be clearly understood prior to filing the corporate insurance agent license application. Doing so helps ensure compliance with regulatory requirements and minimize the risk of delays/rejection of application.
Eligible Applicants: The applicant must be any of the following entities:
A company registered under the Companies Act.
A Limited Liability Partnership registered under the LLP Act.
A Co-operative Society registered under the Co-operative Societies Act.
A Regional Rural Bank established under Section 3 of Regional Rural Banks Act.
An NGO or a Micro Lending Finance Organization covered under Cooperative Societies Act.
Non-Banking Financial Company registered with the Reserve Bank of India.
Infrastructure Requirements: The applicant must have the necessary infrastructure to roll out their activities, including:
Adequately trained manpower
Adequate Office Space
Adequate Equipment
Net worth Requirement: The applicant applying for the corporate agent license must have a minimum net worth of Rs. 50 Lakh at all times. This requirement has been put forth by IRDAI to ensure the non-individual entity has financial stability.
Other Requirements: Here are other requirements that the applicant must fulfill:
The applicant entity's principal officer should be a graduate and should have completed at least 50 hours of training and passed the examination conducted by the Insurance Institute of India (III).
The applicant and its principal officer should not have violated any code of conduct mentioned in the IRDAI regulations.
The entity’s directors and principal officer should have been declared "Fit and Proper" by the appropriate authority.
The following documents must be submitted along with the corporate agent license registration application:
The step-by-step process for securing the IRDAI corporate agent license registration in India takes place in the following manner:
All the necessary documents must be in place prior to filing the application. In case the applicant lacks any of the crucial documents during the corporate agent application filing process, their application will be deemed incomplete by IRDAI and they cannot move further in the registration process.
Once all the documents are in place, the applicant can begin filling out the application form. During the corporate agent registration process, they must ensure that all the required details are filled in accurately and completely, along with attaching all the necessary documents.
Once completed, the application can be filed via the IRDAI corporate agency portal. Along with the application, the applicant is required to pay the applicable application processing fee.
The IRDAI carefully reviews the application for corporate agent license to verify the "fit and proper" criteria of the entity’s key managerial personnel. The Authority examines the infrastructure and capability of the applicant entity to solicit and service insurance business. If necessary, IRDAI may request additional information or clarification. Upon grant of approval by the Authority, the applicant is required to pay the registration fee.
Once the required approval is granted and the registration fee is paid, IRDAI issues the Certificate of Registration / corporate agent IRDAI corporate agent license to the non-individual entity, authorizing it to provide services as a corporate insurance agent.
The fee structure for IRDAI corporate agent registration in India is discussed below:
At the time of filing the application, the applicant must pay a non-refundable application processing fee of Rs.10,000 + applicable taxes.
After IRDAI approves the application, the applicant must pay the IRDAI corporate agent registration fee of Rs.25,000. If this fee is not paid in a timely manner, the Authority will not issue the corporate agency license.
Earlier, corporate agent insurance license renewal was a requirement put forth by the IRDAI. The renewal attracted fees. However, as of 2026, this requirement stands cancelled as the Authority has moved to a perpetual validity model. Now, renewal of corporate agent license is not required and the licence remains active as long as the entity exists, complies with regulations and pays prescribed annual fee.
A corporate agent must pay interim annual fees of Rs. 8,000 + GST for corporate agent license renewal or fresh corporate agent registration falling between 5 February 2026 and 30 June 2026. The fee for obtaining the Principal Officer Certificate and the Specified Person Certificate is approximately Rs. 500 each + GST.
The corporate agency license now offers perpetual validity, meaning it stays valid as long as the agency is active. Earlier, the license had to be renewed after every three years. However, after the IRDAI new guidelines and the enactment of Sabka Bima Sabki Raksha Act, 2025, effective from 5 February 2026, the corporate agents no longer need to renew their license.
With that being said, the prescribed annual fee must be paid by the agency to maintain the operational status. To know more, you can get in touch with our insurance license experts at Registrationwala.
The requirements after securing corporate agency license are as follows:
The corporate agency registration certificate and the Principal Officer’s licence must be downloaded and maintained for record purposes.
A checklist must be prepared to verify that all individuals engaged in insurance solicitation hold the required Specified Person certification.
Post-licence documents must be submitted with the Authority, detailing the collaborations with insurers. For corporate agents (life), such documents must specify tie-ups with life insurers. Similarly, for corporate agents (general) and corporate agents (health), the documents must specify tie-ups with general and health insurers, respectively. For corporate agents (composite), the documents must specify partnerships with insurers across all segments, i.e., life, general and health insurance, in accordance with applicable regulatory limits.
The entity must maintain a minimum net worth of Rs. 50 lakhs at all times.
Half-yearly and annual returns must be submitted to IRDAI as part of ongoing compliance. This ensures that the Authority remains updated regarding the business operations.
A corporate agency license holder must comply with the Code of Conduct applicable to its directors, principal officer and specified persons.
A corporate agent must maintain a book of accounts for the corporate agency business.
At Registrationwala, our consultants have deep expertise when it comes to helping clients in fulfilling corporate insurance agent licence and compliance requirements. We provide end-to-end assistance throughout the IRDAI corporate agent registration online process.
Reach out to Registrationwala if you wish to operate a corporate agency in insurance sector. We’ll make the entire corporate agent registration online smooth and efficient for you.
The Insurance Regulatory and Development Authority of India, abbreviated as IRDAI, is responsible for regulating and issuing licenses to the insurance corporate agents in India. IRDAI is the main authority for overseeing all the insurance-related activities in the country.
An insurance corporate agent represents the insurers it is tied up with and offers their insurance products. In contrast, an insurance broker acts on behalf of customers and provides independent advice. This is the main distinction between the two.
Yes, a private limited company can become a corporate agency.
They must have completed graduation from a recognized institution. Additionally, they must have undergone the 50 hour mandatory training and passed the examination conducted by the Insurance Institute of India.
No, the renewal requirement for the corporate agency license every 3 years no longer applies. However, an annual fee needs to be paid.
They can tie up with a total of nine life insurance companies.
The minimum net worth requirement for corporate agents in India is Rs. 50 lakhs. This net worth must be maintained at all times during the course of business.
The IRDAI corporate agent licence can be applied for by companies, cooperative societies, LLPs, NBFCs and regional rural banks among others.
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After years in the insurance industry, I decided to start a corporate agency. Registrationwala helped me file the Corporate Agent License application with IRDAI and made the process easy for me.
I wanted to start a corporate agency but did not know the process. Truth be told, I didn’t even know if I was eligible. However, Registrationwala guided me well and helped me get my Corporate Agent License smoothly.
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