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Are you looking to obtain a Corporate Agency License? Enterslice helps you secure the license with end-to-end assistance, ensuring a smooth registration process and enabling you to offer a complete range of insurance services without hassle. Trust in a network of 10,000+ professionals.
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Are you looking for an expert to guide you in getting a corporate agency license? Enterslice helps businesses, banks, and financial institutions seamlessly obtain a Corporate Agency License with end-to-end support from documentation to IRDAI approval. Our expertise ensures a compliant and hassle-free registration experience.
An IRDAI Corporate Agency License authorizes a company, bank, or financial institution to sell and promote insurance products on behalf of an insurance provider. A corporate agent represents the interests of the insurance company and must strictly follow the guidelines and compliance requirements set by the IRDAI.
When an organization sells insurance policies such as vehicle, health, or life insurance on behalf of an insurer, it is functioning as a corporate agent. This role allows companies and banks to offer tailored insurance solutions to their customers as part of their service portfolio.
The Corporate agency license is issued by the Insurance Regulatory and Development Authority of India (IRDAI), and it is mandatory for any organization wishing to act as a corporate agent within the insurance sector. IRDAI compliance is complex. We make it founder-friendly.
675 Corporate Agents in India (As on 15 Oct, 2025)
Market Size to Reach Rs 25 Lakh Crore by 2030
CAGR of Approximately 22.95% through 2030
Timeline- 45-90 Days (Subject to Regulatory Approval)
Commission-based Revenue Model
Compliance Load- Medium to High
Become a certified corporate agent with a corporate agency license and offer diverse insurance products under IRDAI regulations while exploring growth opportunities in one of the top 10 insurance markets of the world.
The significant benefits of IRDAI corporate agent registration are mentioned below-
An entity with a corporate agency license can earn revenue by selling insurance products to customers, such that a firm earns a commission from the insurance company for each policy sold.
A firm can diversify its services by offering insurance products in addition to its existing products or services. This overall helps the firm to attract new customers and retain existing ones.
A firm with a corporate agent license is considered to be more credible and trustworthy by customers. This ensures the firm builds a positive reputation in the market.
A firm that has obtained the training and examination required for obtaining a Corporate Agency License gains valuable knowledge and expertise in the field of insurance. This overall helps the firm to facilitate better advice and services to its customers.
By obtaining a corporate agency license, a firm gains a competitive advantage over other firms that do not hold a license. This overall can help the firm to increase its market share and profitability.
A Corporate Agency License is crucial for legally offering insurance products, building credibility, and ensuring customer protection. It enables businesses to expand their service offerings, reach a broader audience, and create additional revenue streams. Given below are the points that reflect the importance of a corporate agency license:
The corporate agency license provides official approval for a company to represent one or more insurance providers. This legal recognition allows the organization to participate in insurance-related activities with full compliance and credibility.
With a corporate agency license in India, corporate agents are permitted to promote and sell insurance products to customers. It helps businesses cater to a larger customer base by offering suitable insurance solutions.
A corporate agency license ensures that insurance operations are conducted under regulatory oversight. This helps prevent fraudulent practices, promotes transparency, and protects the interests of both policyholders and insurers.
A licensed corporate agent can offer multiple insurance products from different insurers, giving customers more choices and better coverage. It also attracts collaborations from insurance companies, helping the business expand market reach and create new opportunities.
The step-by-step process to apply online for corporate agency license is as follows:
Firstly, the applicant should ensure that all the necessary documents are ready before applying for a corporate agency license. These documents include Certificate of Incorporation, PAN card of the company, proof of office address, details of the board of directors or key management personnel, and financial statements for the last 3 years.
Secondly, after gathering all the important documents, proceed with filing the application Form A of Schedule I to the IRDAI. The application can be submitted through an official online portal or physically at the IRDAI office. Make sure to provide complete information and avoid any errors in the said application.
Once the application is submitted, IRDAI will conduct a review of the said application to verify that all the requirements are fulfilled. They will assess the eligibility criteria, infrastructure, and expertise before proceeding with an approval.
In this stage, you need to pay a non-refundable fee of Rs. 10,000/- plus taxes, which must be paid through an Account Payee draft in favour of IRDAI payable at Hyderabad. Also, the fees can be made through an electronic transfer.
Once the application is approved, the IRDAI will issue your Corporate Agency License, allowing the applicant to start selling insurance products from partnered insurers. However, the applicant will need to enter into a formal agreement with insurance companies to begin the operations.
The following entities are eligible to apply for a corporate agent license in India, subject to IRDAI regulations-
The list of documents required for a corporate agency license is as follows:
Certificate of Incorporation or the LLP/Cooperative Society
Details of the proposed or existing branch offices
Details of the principal officer of the applicant organization
Details of the directors or partners of the applicant organization
Organizational chart showing the functional responsibilities of each department of the applicant organization
Net Worth certificate of the applicant, certified by a Chartered Accountant
Declaration of Fit and Proper Criteria
Receipt of the Application fee
Memorandum of Association
Audited Financial Statements for the last two years
After obtaining the corporate agency license, an organization becomes eligible to operate in different segments of insurance, such as life, general, health, or composite. The categories of corporate agency licenses are as follows:
These agents deal exclusively in life insurance products and can partner with up to three life insurance companies. Their role involves marketing, soliciting, and servicing life insurance products. Registration as an insurance corporate agent is mandatory.
Agents under this category work with up to three general insurance companies. They promote and offer a range of non-life insurance products for individual and business clients, such as motor, property, or liability insurance.
These agents focus solely on health insurance and may collaborate with up to three health insurance providers. Their responsibilities include promoting, assisting in issuance, and servicing health insurance policies.
Composite agents provide both life and non-life insurance products. They can offer a complete suite of insurance solutions, including life, health, and general insurance, catering to the diverse protection needs of customers.
Understanding the eligibility standards for obtaining a Corporate Agency License ensures transparency and compliance with regulatory norms. Organizations looking to operate as licensed corporate agents must meet the following criteria, as classified below:
Understanding why a Corporate Agent License is mandatory is crucial for businesses entering the insurance sector. The primary reasons for obtaining this license are discussed below:
The list of requirements post Corporate Agency License is as follows:
With extensive experience in IRDAI licensing and insurance industry compliance, Enterslice provides guidance on how to get an IRDA corporate agent license with complete documentation, advisory, and post-registration support. Besides the IRDA corporate agency license, we help in securing the insurance web aggregator license, the insurance marketing firm license, the insurance repository registration, and more. Given below are the reasons why we are the first choice for the IRDA corporate agent license-
A Corporate Agency License is an authorization issued by the IRDAI that allows a company to act as an intermediary in the insurance sector. With this license, the company can distribute and service insurance products on behalf of insurers, helping consumers access suitable insurance solutions while ensuring regulatory compliance.
The Insurance Institute of India is responsible for conducting the training, while the examination is carried out by NSE-IT under the current procedure. If any changes occur in the future, the Authority will update the information on its official portal.
A corporate agent is a registered organization or company that holds a Certificate of Registration (COR) from IRDAI and is authorized to solicit and service insurance products in life, general, or health insurance categories. An insurance agent, on the other hand, is an individual professional who sells and manages insurance policies for customers, usually representing one insurance company at a time unless licensed otherwise.
No, corporate agents are strictly prohibited from engaging in multilevel marketing to promote or distribute insurance products.
The specific conditions required for a corporate agency license are as follows:
The fee structure for obtaining a corporate agency license includes the applicable government fees (plus taxes) along with professional charges, which must be paid through an account payee draft in favour of IRDAI, Hyderabad. The charges prescribed by IRDAI include a government processing fee of Rs. 10,000 for the registration application and a government registration fee of Rs. 25,000 for the issuance of the license.
The different types of corporate agents in India are Corporate Agent (life), Corporate Agent(general), Corporate Agent (Health), and Corporate Agent(composite).
The list of documents required for corporate agent registration in India is as follows:
The licensing and regulation of corporate agents in India is overseen by the Insurance Regulatory and Development Authority of India (IRDAI). The operations and compliance requirements for corporate agents are governed under the IRDAI (Registration of Corporate Agents) Regulations, 2015.
The IRDAI license for an insurance agent remains valid for a period of three years. Further, the same has to be renewed as per the IRDAI guidelines.
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