The Complete List of Do’s And Don’ts of IRDA Web Aggregator

The Complete List of Do’s And Don’ts of IRDA Web Aggregator

Insurance Web Aggregator Regulators are insurance intermediaries that supervises and monitor a website for providing an interface to the insurance prospects in price comparison and provide information on different insurers and other related matters. IRDAI (Insurance Regulatory and Development Authority of India) has authorized Web Aggregators Regulations, 2013, where Individuals can get online access to life insurance plans. This website work as a comparison site as they showcase the plans of various insurers.


The primary function of a web aggregator is as follows:-

1. To enable an extensive comparison between different insurance products to the customers.

2. To ensure a customer-friendly service by providing online portal access.

3. Certainly, they must be well-coordinated with other insurance companies, wherein they extract the crux of their policies and services. 

4. After obtaining the web aggregator certificate, they presented all the relevant information on the website in a proper format.

5. Further, the web aggregator may share the leads with the Insurer as per the guidelines of the Insurance Regulatory Authority of India 


After obtaining a successful license as a web aggregator, one must comply with such conditions which are as follows:-

  • The license holders must sign the service agreement by providing the necessary information related to insurers’ products.
  • Share the lead generation services with the insurers.
  • Ensure that the website must comply with the security standards and regulations of the web aggregator license.
  • Ensure that the information about the generated leads is protected and transferred to the insurers using 128-bit encryption.
  • Also, the website controls all the underlying systems, including hardware, software, and lead management system, and is audited by CERT-in every year.
  • However, the insurance web aggregator must submit an Auditor-issued statutory certificate and an annual report to India’s Insurance Regulatory Development Authority every year. The web aggregator license holder will also ensure that the said certificate complies with all the provisions mentioned in the rule book of the Insurance Regulatory and Development Authority of India. 
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As an insurance web aggregator, one must not take part in the: –

  • Publishing any information or products from other Financial Institutions or FMCG that have nothing to do with insurance policies of any kind.
  • Any advertising related to insurance policies or a product or service outside of the insurance policies domain.
  • To operate multiple insurance web aggregator websites.
  • To make connections with unregistered or unapproved websites or business entities for lead generation.
  • Further, use any platform, such as social media sites, etc., for product comparison.
  • Insurance web aggregator shall not work in any manner which is not regulated by IRDA.


As per the IRDA guidelines, the applicants for Insurance Web Aggregator must comply with the condition which is as follows:

  • To apply for Web Aggregator License, one must have a minimum Paid-Up Capital of INR 25 lakhs.
  • The applicant must not be an already existent Insurance agent, Corporate agent or Registered Insurance intermediary.
  • Insurance Web Aggregator applicants must have a well-designed website to run the intermediation process.
  • In the Memorandum of Association of the applicant, Company should cover the prospect of functioning as a Web Aggregator.
  • A certificate of registration issued by IRDAI[1] shall be only valid for a period of three years from the date of issue.
  • The Insurance Web aggregator shall submit the application for registration renewal in Form F at least thirty days before the expiration.
  • The applicants are eligible to commence as an Insurance Web Aggregator:
  • A Company registered under the Companies Act 2013.
  •  LLPs are registered under the Limited Liability Partnership Act of 2008.
  • An individual recognized by IRDA.
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 If the application submitted by the applicant is incomplete and does not comply with the requirements, it shall be rejected. An applicant shall be given a reasonable opportunity to complete the application. 


An insurance web aggregator is an online platform that aggregates insurance policies of different companies registered under the Companies Act along with the approved IRDA regulation and is to establish, operate and maintain the online portal and provide necessary information related to insurance policies and products.

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