Insurance Web Aggregator License in India

Insurance web aggregator license allows you to start a portal at which users can compare, get information about and buy insurance policies.

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Insurance Web Aggregator License

Step 1
Train the principal officer
Step 2
Setup the company
Step 3
File the application
Step 4
Wait for application's analysis
Step 5
Obtain the IRDA web aggregator license

Insurance Web Aggregator License in India

An Insurance Web Aggregator is an aggregator of Insurance policies. To operate, it has to obtain a Certificate of Registration from the Insurance Regulatory Development Authority of India, commonly known as the Insurance Web Aggregator License. They are the solution to buying the right insurance policies. It aggregates insurance policies in one place where prospects can vary by insurance policies as per their needs.

In this uncertain world, security is hard to come by. It has driven people to buy insurance policies to give their families a secure future. But, with so many online policies, people have a hard time picking the right one. More often than not, that hard time pushes them into buying the wrong policies, which can severely impact their lives. You can give them an online solution by becoming an Insurance Web Aggregator.

Role Of  Insurance Web Aggregator

Web aggregator meaning is to aggregate articles on the web on one portal. An Insurance aggregator is an insurance company or an insurance intermediary. Its job is to aggregate, accumulate and present information about the insurance products of different insurance companies. The insurance web aggregator business isn’t just presenting multiple insurance products in one place. It allows people to come and:

  • Read the policies of the insurance products
  • An Insurance aggregator provides a comparison module to provide the benefits of comparing policies.
  • And Choose the insurance product that suits their needs.

Why Insurance Web Aggregator?

That being said, not just anyone can start a web portal like that; you need Insurance Web Aggregator License India or IRDA License. It’s governed under the Insurance and Development Act 1999 and gives insurance companies or intermediaries the to aggregate and showcase insurance products to online customers. Due to its prospects, many entrepreneurs are now coming forward to become Insurance Web Aggregators in India.

Eligibility Criteria for Insurance Web Aggregator License in India 

Following are the eligibility criteria for you to become Web Aggregators in the insurance industry:

Eligibility Criteria for Insurance Web Aggregator License in India

  • You must apply as either a company or an LLP.
  • The memorandum and Articles of association/LLP agreement of your company/LLP should specify that the object of your company/LLP is web aggregation.
  • Your business shouldn’t be anything other than selling policies online.
  • You must have a referral agreement with an insurer.
  • You’ll only get one certificate of insurance web aggregation.
  • You must have your website as a portal to present insurance products. 
  • Your principal officer should have the necessary qualification to conduct insurance web aggregation as per FORM C Schedule 
  • Your principal officer should’ve undergone the necessary training and be certified by the concerned Authority.
  • You and other key members of your company must adhere to the Fit and Proper criteria of the Insurance aggregator Form D Schedule 
  • Your company must not have violated any obligations specified in FORM V and W.
  • You must not be someone whose Insurance Authority canceled the web aggregator license.




Functions of an Insurance Web Aggregator

Functions of an Insurance Web Aggregator

Display of product comparisons on the Aggregator website

The conditions relating to product comparisons on the Insurance Web Aggregator designated website are given in Form Q (Display of product comparisons on the website) of the IRDAI regulations.

Transmission of leads by Insurance Web Aggregator to the Insurers

The manner and sharing of leads by the Insurance Web Aggregator are given in Form R (Manner and sharing of leads) of the IRDAI regulations.

Sale of Insurance Online by Insurance Web Aggregators

The manner and process of the sale of Insurance online by Insurance Aggregators in India are given in Form S (Manner & process of the sale of Insurance online by Insurance Web Aggregators) of the IRDAI regulations.

Sale of Insurance by telemarketing mode and other distance marketing activities of an Insurance Web Aggregator

Insurance Web Aggregator can use the Telemarketing or Distance Marketing modes, as per the instructions outlined in Form T (Sale of insurance products by telemarketing mode and other distance marketing activities of Insurance Web Aggregator) of the IRDAI Regulations, for solicitation of Insurance based on the leads generated from its designated website.

Documents Required for Insurance Web Aggregator License in India 

The following documents are required to be submitted to the IRDAI:


Certificate of Incorporation

Memorandum of Association

Articles of Association

PAN Card of the company 

LLP agreement if your business entity is an LLP

Director profiles of the company or the Partner profiles of the LLP

Principal Officer Profile and documents pertaining to his educational qualification.

Audited financial statements for the last three years if the applicant is an existing company

Website hosting details

Details of the website content manager

Shareholding pattern of the company

Net worth certificate of the company

Organogram (Organizational Chart) of the company

Receipt of the IRDA license fees 

Latest financial statements if the applicant is a new company

Details of the company’s/LLP’s IT infrastructure

Audited financial statements for the last three years if the applicant is an existing company

Access (ID and password) to view the content and backend of the insurance aggregation website


Remuneration to an Insurance Web Aggregator

  • The Authority regulates the payment of remuneration by the regulations notified by the Authority.
  • Remuneration in any form is payable to Insurance Web Aggregators by insurers in compliance with the following provisions:
    1. No charges must be paid for the transmission of leads by the Insurance Aggregator to the Insurer (Insurance Company).
    2. Leads that are converted into the sale of insurance policies will entitle the Insurance Web Aggregator to earn remuneration as applicable to insurance intermediaries.
    3. A flat fee of not exceeding Fifty thousand per year towards each product displayed by the Insurance Web Aggregator in the comparison charts of its website must be paid to the aggregator.
    4. Insurance Web Aggregator can undertake Outsourcing functions to provide Insurance Services to policy seekers. In such instances, the Insurer must pay the Insurance Web Aggregators reasonable service charges at mutually agreed rates fixed in the service agreements with the Insurance Web Aggregators.
  • The Insurer must not deny an Insurance Web Aggregator payment of remuneration on the grounds that insurance policies being sourced through it are direct online sales of Insurance  Policies by the insurance companies unless the product approved under the product approval norms is a zero-commission rate product.
  • Products that an Insurer is desirous of selling through a Web Aggregator and for which the web aggregator is not specifically mentioned as a distribution channel in the File & Use application of the product can be sold by the Web Aggregator. This can be done without any requirement to modify the existing approved product under the product approval norms.
  • An Aggregator must not offer any rebate, discount, or any other inducement to the prospect, which will violate the Insurance Act of 1938.

Process of obtaining the Insurance Web Aggregator License in India

IRDA has provided a simple pathway to provide the license to become a web aggregator in Insurance. The IRDA certification process for web aggregators in Insurance is made in such a way that one has to understand each and every step thoroughly.

Process of obtaining the Insurance Web Aggregator License in India

The process to acquire Insurance Aggregator License and IRDA License download is as follows:

Step 1 : Incorporate a company or an LLP

If you’re applying for an Insurance Aggregator License for the first time, it’s wise to take the right first step, getting your business registered as a company/LLP.

Step 2 : File the application using FORM A

Fill out the application FORM A and attach the required documents. You can file the application at the IRDA licensing portal or IRDA License portal.

Step 3 : Pay the required application fee

Pay the requisite IRDA web aggregator license fees to get the application into processing.

Step 4 : Wait for the Authority to examine your application

After receiving your application, the IRDAI will process it. If it finds that your application is in the general interest of the policyholders, you will get the certificate of registration in FORM E. However, that may not always be the case because the rejection rate is also high. Thus, keep a sharp eye on the IRDA license check portal for insurance web aggregators.

Step 5 : Downloading the IRDA License

At that time, you’d be able to download the IRDA license certificate. That would have a unique IRDA license number or IRDA license No. specific for insurance web aggregators.

Once you receive the notification and have committed to the IRDA license certificate download and have committed to your business,  you provide your visitors, not just the facility to browse and Insurance policies. You can also provide them with a direct line to the insurance portal. It will allow them to IRDA license insurance certificate download.


You should know that once you have the IRDA license copy, download the information related to the renewal process. As the online insurance license doesn’t have a lifetime validity, you should take some early steps to ensure that your business doesn’t halt if your license stops. Remember to apply for the license of Insurance Aggregators in India some days before the expiry.

License Validity

The IRDAI issues a certificate of registration which will be valid for a period of three years from the date of its issue. This license is valid unless it is suspended or canceled under the specified regulations.

Rejection of Application

  • An application, which is not complete in all respects, is liable to be rejected.
  • Before rejecting any application, the applicant must be given an opportunity to complete the required formalities within a period of thirty days from the date of receipt of communication from the Authority.
  • The Authority can ask the applicant to provide further information or clarification.
  • In case the requirements are not provided within thirty days of the communication from the Authority, the IRDAI can return the application, and the applicant will be required to file a fresh application.
  • The Authority must communicate the order rejecting the application within thirty days to the applicant in writing, stating the ground on which the application has been rejected.
  • An applicant aggrieved by the decision of the Authority can, within forty-five days from the date of communication, apply to the Securities Appellate Tribunal (SAT) against the decision of the Authority.

Our Assistance to get the Insurance Web Aggregator License in India 

However, like anything worth having, many legal conditions are involved with getting the web aggregation license. That’s why, Registrationwala takes up the task of guiding you toward Insurance in the most hassle-free, affordable, and reliable fashion.

So, get ready to count yourself among the top web aggregators in India. There are not many of them anyway.  It means that you not only have a chance to start an online insurance web aggregator business but also make it thrive.

To make you a part of the IRDA web aggregator list and start your Insurance Web Aggregator portal, we assist you in the following ways:

  • We will file your IRDA license application.
  • We prepare the documentation for it.
  • We provide end-to-end Insurance License assistance.

For more information, reach out to our experts. We can immediately spring into action and deliver you the Insurance web aggregator license.


Q.1 What is the validity of an Insurance Web aggregator license in India?

Ans: The validity of an insurance aggregator license is 3 years from the date of issue in India.

Q.2 Who cannot become an Insurance Web aggregator in India?

Ans: The applicants or entities registered as the following cannot apply for the Insurance Web Aggregator license:

  1. Insurance agent
  2. Corporate agent
  3. Microfinance Agent
  4. Insurance Surveyor and Loss Assessor
  5. Insurance Marketing Firm
  6. TPA
  7. Micro Insurance Agent. 

Q.3 Can an Insurance Aggregator engage in activities beyond the insurance business?

Ans: No. The purpose of the Insurance Web Aggregator’s MOA should be the insurance web Aggregation and they are not allowed to do any other activity other than insurance.

Q.4 What is the maximum number of insurer products that a Web Aggregator can showcase?

Ans: There is no limit on the number of insurer products.

Q.5 Where can I find a directory of authorized Insurance Web Aggregators?

Ans: It is available on the IRDAI website. 

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