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Hi Healthcare-Focused Investors! Are you considering a health insurance company setup in India? If yes, let Enterslice help you manage IRDAI’s multi-stage R1/2/3 of the IRDAI standalone health insurance company registration and meet every statutory condition, making your market entry seamless in one of India's most capital-intensive and regulated sectors.
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Overview Benefits of Consultants Registration Requirements Capital and Solvency Governance Documents Required Registration Procedure Timeline Ongoing Compliance Risks You Can Avoid Scope of Services Why Trust Enterslice FAQs Schedule Meeting An Overview of Standalone Health Insurance Company Registration Process The standalone health insurance company registration process helps entrepreneurs like you in establishing a standalone company that offers health insurance products. Enter into India’s growing health sector and offer medical coverage, healthcare benefits, and financial protection to individuals and families in over 10,000+ PAN India Pin Codes. The registration is good for investors, financial institutions, healthcare enthusiasts, and entrepreneurs looking to launch a dedicated health insurance company. From careful planning & capital sourcing to documentation and committee formation/policy drafting, we streamline your operations before and after registration. Simplify your registration journey by partnering with Enterslice to get expert assistance with documentation, application filing, regulatory coordination, and IRDAI submissions. Our professional team helps reduce the administrative burden, so you can avoid unnecessary delays and focus on your core insurance business. USD 5.2 Billion Market Share Massive Untapped Population High Retention Rate Lucrative Consolidation Exits Underwriting Profit Machine High Lifetime Value Standalone Health Insurance Company Registration Compliance with Enterslice Call us today to turn your health insurance business vision into a reality with our standalone health insurance company registration compliance. Connect With Our Expert Now Benefits Of Appointing Professional Consultants for Your Standalone Health Insurance Company Registration Here are a few reasons you need and would benefit from consulting services for your standalone health insurance company registration: R1 Requisition/Acceptance Our experts help businesses like yours manage Form R1 during the requisition phase and ensure full compliance with the Insurance Act and relevant circulars. Capital and solvency structuring Professional consultants would help you structure your mandatory INR 100 crore or more paid-up equity share capital along with strict solvency requirements to make sure you don’t incur any penalties or delays in the registration. Product approval and actuarial assignment We help you connect with professionals who can create portfolios for critical illnesses, cancers, diabetes, and other related illnesses. They make sure your pricing model, underwriting, and risk-transfer norms are up to IRDAI rules. Streamlined agent distribution and licensing integration Enterslice experts help you structure special dispensations, agent utilization under compliant training programs, and converted certifications that would better enhance your market size post-registration. Better policyholder transparency Legal and insurance professionals help in designing a transparent claim settlement workflow, time tracking, and internal ombudsman escalation framework that demonstrates you as a serious applicant before the IRDAI. Seamless filing and compliance Maintaining post-registration compliance can be heavy, especially submitting returns to the IRDAI within the deadline, updating the internal trackers, and making sure your financial disclosures don’t miss anything. Enterslice expert professionals also assist with IRDAI on-site inspections and queries. Know The Standalone Health Insurance Company Registration Requirements Before Formally Applying Thinking of starting an insurance company? Find out the standalone health insurance company registration requirements before committing to the application: Only a public limited company can apply for registration with the IRDAI. 100% foreign investment is allowed, provided the applicant satisfies the authority. The company name must have “insurance” or assurance and be reserved. Relevant only for health insurance products. Make sure all your directors and promoters go through criminal and financial checks. Prepare a board of directors with experienced professionals. A well-detailed business plan with financial projections of at least 5 years. Proposed health insurance product list. Develop underwriting, claims, and investment management policies. Have policyholder protection and client grievance redressal systems in place. Set up suitable offices and tech infrastructure with secure systems. Implement risk management and internal audit frameworks. Capital and Solvency Requirements for standalone health insurance company registration Understand your capital and solvency requirements for standalone health insurance company registration: At least INR 100 crore as your minimum capital. 1.50 times the required solvency ratio at all times. Declare the source of your funding as per KYC and AML guidelines. Maintain the minimum capital bandwidth at all times. Your capital must be traceable. All financial statements must be audited with a trail. Clearly define the ownership stake and contribution conditions. Governance For Standalone Health Insurance Company Registration Let us help you draft policies, committees, and corporate governance for standalone health insurance company registration. Business incorporation You must be a registered public limited company in India. If you are a private limited company, then you must apply for a conversion to a public one. Board of directors The company board of directors must include at least three independent directors, with one of them being a woman. Make sure to align your director hiring with the level of foreign investment in the company. Board quorum and age criteria Your board quorum must be one-third of the total strength or at least three directors. Also, the maximum age limit for your non-executive director/chairperson is 75 years and for the CEO, MD, and whole-time directors, 70 years. Tenures Each of your directors, including CEO, MDs, and whole-time directors, cannot exceed 15 years post-appointment in the company. Get prior approval from the IRDAI if you want to hire or appoint an existing or new promoter/director. Key personnel The insurance company must have a CEO, MD, WTD, CFO, appointed actuary, chief information officer (CIO), chief risk officer (CRO), and chief compliance officer (COO). Get prior approval before you appoint a chairperson. Auditors As an insurer, you should appoint at least two joint statutory auditors along with the internal ones to conduct periodic and statutory audits. Policies Prepare policies for risk management, internal audit, compliance management, whistleblower, vigilance, conflict of interest, board & committee, director appointment, related party transactions, remuneration, stewardship, and ESG/climate risk. Insurance operations-related policies Draft and execute policies on underwriting, claims management, policyholder protection, customer grievance, product development, approval, reinsurance, outsourcing, commission, and remuneration policy. Financial and investment management Make policies on investment, asset-liability, financial reporting, control, and fraud risk management. Technology and information security Prepare policies for information, cybersecurity, business continuity, disaster recovery, data privacy & protection policy, record keeping, and document retention policy. AML and KYC To align your corporate governance with IRDAI, you must implement anti-money laundering, know your customer (KYC), regulatory reporting, disclosure, related-party transactions, and CFT to get your standalone health insurance company registration. Committee formation As an upcoming standalone health insurance company with the IRDAI, you will need to maintain certain committees, including audit, risk management, policyholder protection, claims monitoring, investment, NRC, and CRS committees. What Documents Do You Need for IRDAI Standalone Health Insurance Company Registration? While the actual checklist for your paperwork depends on your company’s structure and size, among other things, here’s a list of the most common documents that you need for IRDAI standalone health insurance company registration: Company incorporation documents Memorandum of association (MOA) Articles of association (AOA) Business plan with projections Bank account statements Background checks on directors and shareholders Audited financial statements Net worth certificate Proof of required capital Source of funds Actuarial and risk management details Compliance and declarations for IRDAI Details and qualifications of directors and management Complete information on board structure Internal policies and risk management framework Actuarial and insurance-related risk arrangements Application form and fee receipt Need assistance in Standalone Health Insurance Company Registration? Connect with our Experts Today How To Apply for Standalone Health Insurance Company Registration with Enterslice? Enterslice helps you manage the complete IRDAI standalone health insurance company registration, starting from company incorporation with the MCA to final registration and regulatory filings. Step 1: Get Your IRDAI NOC, Where Needed Our experts help you prepare and submit the required NOC application for the proposed insurance company name with your promoter list and business details. Your name must include "Insurance" or "Assurance" Step 2: Incorporate Your Company In the next step, our team helps you register your company with the MCA, making sure the proposed name, object clause, shareholding structure, and foundational documents are fully in line with your insurance business as well as the IRDAI. Step 3: Submit Form IRDAI/R1 We help prepare and file your R1 Form with promoter details, business plan, financial projections, ownership structure, governance framework, and other mandatory information. Step 4: Manage IRDAI Review and Clarifications Enterslice team of professional experts help clients like you deal with queries by the IRDAI during the R1 review by preparing timely responses, supporting documentation, and regulatory clarifications to save you from unnecessary delays and rejections. Step 5: File Form IRDAI/R2 Once you receive the R1 acceptance, we help you formally apply for the R2 application for submitting your capital details, fund sourcing, policies, compliance declarations, foreign investment disclosures, and governance documentation. Step 6: Obtain Certificate of Registration in Form IRDAI/R3 Once the R2 is reviewed and approved by the IRDAI, you will receive the certificate of registration in Form R3. Planning to launch a standalone health insurance company? Let Enterslice manage the regulatory process from NOC to R3 registration. Not Sure Where to Start for Standalone Health Insurance Company Registration Compliance? Let our experts’ smooth things out for you with our standalone health insurance company registration compliance services. Free 30-min Insurance advisory call Complete demo on how to manage and file for your health products Book a 1:1 Virtual call What is the Timeline for the Standalone Health Insurance Company Registration Process? Your timeline for the standalone health insurance company registration process depends on the completeness and accuracy of your documentation. Here’s a standard timeframe: Company Incorporation: 3 to 6 Weeks Register your company as a public limited company or convert it if it’s a private limited company with an approved name that includes “insurance” or assurance company”. Form R1: 4 to 12 Weeks Submit your business projections, corporate documents, fitness certificates, and infrastructure plans, so the IRDAI conducts a background check and evaluates the workability of your business model. In-Principle Approval: Post Acceptance of R1 Once the R1 is accepted, you have around six months to set up the paid-up capital, finalize your agreements, and prepare for formal submission. File Your IRDAI Form R2: 8 to 12 Months for Approval Submit your capital affidavits, foreign equity compliance, policies, and final agreements to the IRDAI via the R2 Form. Grant of Registration: Post R2 Approval Get your R3 after the R2 approval, post final evaluation by the IRDAI regulator, within 2 to 3 weeks. Business Launch: Within 12 Months Set up tech systems, hire core personnel, and establish important infrastructure within 12 months of receiving the R3 certificate of registration to make sure it doesn’t become invalid. An Indicative Ongoing Standalone Health Insurance Company Registration Compliance Compliance type Frequency IRDAI Regulatory Returns Monthly, quarterly, half-yearly, and annually Financial Statements and Reporting Quarterly and yearly Solvency Margin Monitoring Quarterly and as needed Investment Compliance and Reporting Quarterly and yearly Corporate Governance Reporting Each quarter and annually Board and Committee Meetings As prescribed by the IRDAI and periodically Policyholder Grievance Reporting Periodically and when required Claims and Business Reporting Monthly and quarterly Actuarial Reporting and Certification Annually and when needed Internal Audit and Risk Reviews Each quarter and yearly AML and KYC Compliance Reviews Always Cybersecurity and IT Compliance ongoing Reinsurance Reporting and Reviews Quarterly and annually Statutory Audit and Annual Filings Annually While each client gets a personal calendar drawn by our IRDAI experts, the above-mentioned one is an indication of what you need to do as part of your standalone health insurance company registration. Risks You Can Avoid During Standalone Health Insurance Company Registration Compliance Work with Enterslice to avoid the following risks during standalone health insurance company registration compliance: Errors in the applications and documentation Delays in completing regulatory submissions Missing or incomplete filings with the IRDAI. Incorrect interpretation of the insurance laws and regulations. Weak corporate governance and internal compliance practices. Penalties arising from regulatory violations or negligence. Poor policyholder grievance and claims management processes. Financial risks due to inadequate compliance monitoring. Operational disruptions caused by changing regulatory requirements. Enterslice’s Scope of Standalone Health Insurance Company Registration Compliance Services Our comprehensive scope of standalone health insurance company registration compliance services includes: Registration and licensing Enterslice consultants help you with company registration and licensing, including application, document reviews, liaison support post-submission, and coordination with authorities in case they have any questions. Regulatory compliance assistance We don’t just register your company but also make sure you follow each and every IRDAI rule and regulatory requirement, starting from getting the registration through on-time filings and event-based compliance. Legal and regulatory paperwork Our legal associates take care of your entire paperwork, starting from filling out the application form, business plan drafting, declarations, resolutions, policies, risk management framework, and related supporting documents needed for standalone health insurance company registration. Corporate governance To expedite your approval and successful registration, we assist in establishing an appropriate governance system with roles, policies, and internal procedures to support effective management and assist the company with regulatory expectations via its operations. Regulatory filings We send you reminders, assist you in handling your compliance dashboard, and prepare your calendar to make sure you file and submit your returns and reports on time, reducing the chances of penalties or license revocation due to late or missing returns. Compliance monitoring To make sure you always remain compliant with the external and ever-changing insurance system, we constantly monitor the IRDAI regulations and related MCA/ROC regulations. Our plan is simple: identify and rectify the gaps to keep your business aligned with the outside landscape. Policyholder and claims compliance We also assist you with mandates relating to policyholders, claim handling, consumer communications, grievance management, and fair treatment, helping insurers maintain transparent and customer-friendly processes. Why Trust Enterslice for Standalone Insurance Company Registration in India? See why insurance companies trust Enterslice for standalone insurance company registration in India and IRDAI compliance: 15+ Years of Industry Experience in the Insurance Sector End-To-End Support from Planning Through Registration Completed More Than 5,000+ Compliance Projects for Insurance Companies Practical Guidance With 100% Document Accuracy Experienced Support from Ex-Lawyers and Analysts in the Insurance Sector Individual Manager for Each Client, No More Endless Email Chains Compliance Tracking Via One Central Client Portal: No Missing IRDAI Deadlines Ease Of Coordination Between Teams and Regulatory Authorities Via Liaison Support On-Site Audit Coordination Via 500+ Insurance Experts In 20+ States and UTs PAN India Timely Updates and Modifications on Application Progress and Requirements Reduced Administrative Workload for Your Internal Team Personalized Solutions for Each Client Per Engagement Complete Support for Governance, Policies and Compliance Preparation Network of 10,000+ Professionals for PAN India Connectivity Want to Build or Fix a Distribution Channel After Standalone Health Insurance Company Registration Enterslice helps insurers recruit and grow with agents and partners after IRDAI standalone health insurance company registration. 1:1 Discussion with an Insurance Expert IRDAI-Compliant-Grade Documentation Book your IRDAI Strategy Call Now FAQs On Standalone Health Insurance Company Registration and Compliance How do I start with standalone health insurance company registration in India? Well, you should call us to get insight into where you stand with the registration. We help you register a company, document your funding sources, and check for board directors/promoter background. We also help you form a committee, prepare policies, draft a business plan, governance paperwork, operational strategy, and affidavits. Get your final certificate and assistance with key personnel appointment, infrastructure inspection, and IT system setup. What do I need to start my standalone health insurance company registration in India? Before you start registering an insurance company, you need to make sure you have a public-limited registered company in India and a capital of INR 100 crore, with a good business plan and financial projections. Rest, you leave everything to us. How does the IRDAI standalone health insurance company registration process work? Well, the process of the IRDAI works via a three-tier framework, which begins with you incorporating your company, then moving to promoter R1 background evaluation, next going to financial infusion in R2 & underwriting scrutiny, and final conclusion with R3 infrastructure verification for final certification. How much are the standalone health insurance company registration fees and costs? Make sure you have at least INR 100 crore in capital and a non-refundable INR 5 lakh IRDAI application fee on the side, while keeping some budget for incorporation, actuarial, and operational infrastructure costs. Note that this doesn’t account for professional fees. What will I need to do after standalone health insurance company registration? Once you have registered your SAHI company, you will need to continuously maintain the INR 100 crore capital, a 150% solvency ratio against liabilities, submit reports to the IRDAI, implement AML controls, and conduct regular audits. How long does the standalone health insurance company registration process take? You can expect anywhere between 12 and 18 months. That being said, your approval actually depends on how fast you reply to the IRDAI queries, committee formation, policy accuracy, background verifications, and operational setups. What documents do you need to start my standalone insurance company registration? We need you to submit your corporate documents like incorporation certificate (if you already have one), MOA, AOA, a brief business idea/list of products, previous years' financial track records, PAN, GST, and TAN of the company, and KYC details of the directors and promoters. What solvency ratio is needed post-standalone health insurance company setup? As a registered company, you are expected to maintain a 150% solvency ratio (1.5% of the liabilities) at all times to demonstrate your financial stability and make sure you can cover your customers' claims and provide the needed protection. What happens if I operate without a standalone insurance company registration? Operating or conducting a business without a proper IRDAI SAHI insurance registration could result in hefty penalties in crores, bank account freezing, immediate closure of operations, and even criminal actions against the promoters/directors. Does a standalone health insurance company registration need renewal? Not at all. You don’t need to renew your standalone health insurance company certificate of registration because the license is granted indefinitely; now that being said you don’t think your license is not up for cancellation if you don’t comply with or follow IRDAI rules and regulations. We make sure you never pay any late fees, get into any legal issues, or face revocation due to penalties.
The standalone health insurance company registration process helps entrepreneurs like you in establishing a standalone company that offers health insurance products. Enter into India’s growing health sector and offer medical coverage, healthcare benefits, and financial protection to individuals and families in over 10,000+ PAN India Pin Codes.
The registration is good for investors, financial institutions, healthcare enthusiasts, and entrepreneurs looking to launch a dedicated health insurance company. From careful planning & capital sourcing to documentation and committee formation/policy drafting, we streamline your operations before and after registration.
Simplify your registration journey by partnering with Enterslice to get expert assistance with documentation, application filing, regulatory coordination, and IRDAI submissions. Our professional team helps reduce the administrative burden, so you can avoid unnecessary delays and focus on your core insurance business.
USD 5.2 Billion Market Share
Massive Untapped Population
High Retention Rate
Lucrative Consolidation Exits
Underwriting Profit Machine
High Lifetime Value
Call us today to turn your health insurance business vision into a reality with our standalone health insurance company registration compliance.
Here are a few reasons you need and would benefit from consulting services for your standalone health insurance company registration:
Our experts help businesses like yours manage Form R1 during the requisition phase and ensure full compliance with the Insurance Act and relevant circulars.
Professional consultants would help you structure your mandatory INR 100 crore or more paid-up equity share capital along with strict solvency requirements to make sure you don’t incur any penalties or delays in the registration.
We help you connect with professionals who can create portfolios for critical illnesses, cancers, diabetes, and other related illnesses. They make sure your pricing model, underwriting, and risk-transfer norms are up to IRDAI rules.
Enterslice experts help you structure special dispensations, agent utilization under compliant training programs, and converted certifications that would better enhance your market size post-registration.
Legal and insurance professionals help in designing a transparent claim settlement workflow, time tracking, and internal ombudsman escalation framework that demonstrates you as a serious applicant before the IRDAI.
Maintaining post-registration compliance can be heavy, especially submitting returns to the IRDAI within the deadline, updating the internal trackers, and making sure your financial disclosures don’t miss anything. Enterslice expert professionals also assist with IRDAI on-site inspections and queries.
Thinking of starting an insurance company? Find out the standalone health insurance company registration requirements before committing to the application:
Understand your capital and solvency requirements for standalone health insurance company registration:
At least INR 100 crore as your minimum capital.
1.50 times the required solvency ratio at all times.
Declare the source of your funding as per KYC and AML guidelines.
Maintain the minimum capital bandwidth at all times.
Your capital must be traceable.
All financial statements must be audited with a trail.
Clearly define the ownership stake and contribution conditions.
Let us help you draft policies, committees, and corporate governance for standalone health insurance company registration.
You must be a registered public limited company in India. If you are a private limited company, then you must apply for a conversion to a public one.
The company board of directors must include at least three independent directors, with one of them being a woman. Make sure to align your director hiring with the level of foreign investment in the company.
Your board quorum must be one-third of the total strength or at least three directors. Also, the maximum age limit for your non-executive director/chairperson is 75 years and for the CEO, MD, and whole-time directors, 70 years.
Each of your directors, including CEO, MDs, and whole-time directors, cannot exceed 15 years post-appointment in the company. Get prior approval from the IRDAI if you want to hire or appoint an existing or new promoter/director.
The insurance company must have a CEO, MD, WTD, CFO, appointed actuary, chief information officer (CIO), chief risk officer (CRO), and chief compliance officer (COO). Get prior approval before you appoint a chairperson.
As an insurer, you should appoint at least two joint statutory auditors along with the internal ones to conduct periodic and statutory audits.
Prepare policies for risk management, internal audit, compliance management, whistleblower, vigilance, conflict of interest, board & committee, director appointment, related party transactions, remuneration, stewardship, and ESG/climate risk.
Draft and execute policies on underwriting, claims management, policyholder protection, customer grievance, product development, approval, reinsurance, outsourcing, commission, and remuneration policy.
Make policies on investment, asset-liability, financial reporting, control, and fraud risk management.
Prepare policies for information, cybersecurity, business continuity, disaster recovery, data privacy & protection policy, record keeping, and document retention policy.
To align your corporate governance with IRDAI, you must implement anti-money laundering, know your customer (KYC), regulatory reporting, disclosure, related-party transactions, and CFT to get your standalone health insurance company registration.
As an upcoming standalone health insurance company with the IRDAI, you will need to maintain certain committees, including audit, risk management, policyholder protection, claims monitoring, investment, NRC, and CRS committees.
While the actual checklist for your paperwork depends on your company’s structure and size, among other things, here’s a list of the most common documents that you need for IRDAI standalone health insurance company registration:
Company incorporation documents
Memorandum of association (MOA)
Articles of association (AOA)
Business plan with projections
Bank account statements
Background checks on directors and shareholders
Audited financial statements
Net worth certificate
Proof of required capital
Source of funds
Actuarial and risk management details
Compliance and declarations for IRDAI
Details and qualifications of directors and management
Complete information on board structure
Internal policies and risk management framework
Actuarial and insurance-related risk arrangements
Application form and fee receipt
Need assistance in Standalone Health Insurance Company Registration?
Enterslice helps you manage the complete IRDAI standalone health insurance company registration, starting from company incorporation with the MCA to final registration and regulatory filings.
Our experts help you prepare and submit the required NOC application for the proposed insurance company name with your promoter list and business details. Your name must include "Insurance" or "Assurance"
In the next step, our team helps you register your company with the MCA, making sure the proposed name, object clause, shareholding structure, and foundational documents are fully in line with your insurance business as well as the IRDAI.
We help prepare and file your R1 Form with promoter details, business plan, financial projections, ownership structure, governance framework, and other mandatory information.
Enterslice team of professional experts help clients like you deal with queries by the IRDAI during the R1 review by preparing timely responses, supporting documentation, and regulatory clarifications to save you from unnecessary delays and rejections.
Once you receive the R1 acceptance, we help you formally apply for the R2 application for submitting your capital details, fund sourcing, policies, compliance declarations, foreign investment disclosures, and governance documentation.
Once the R2 is reviewed and approved by the IRDAI, you will receive the certificate of registration in Form R3.
Planning to launch a standalone health insurance company? Let Enterslice manage the regulatory process from NOC to R3 registration.
Let our experts’ smooth things out for you with our standalone health insurance company registration compliance services.
Your timeline for the standalone health insurance company registration process depends on the completeness and accuracy of your documentation. Here’s a standard timeframe:
Register your company as a public limited company or convert it if it’s a private limited company with an approved name that includes “insurance” or assurance company”.
Submit your business projections, corporate documents, fitness certificates, and infrastructure plans, so the IRDAI conducts a background check and evaluates the workability of your business model.
Once the R1 is accepted, you have around six months to set up the paid-up capital, finalize your agreements, and prepare for formal submission.
Submit your capital affidavits, foreign equity compliance, policies, and final agreements to the IRDAI via the R2 Form.
Get your R3 after the R2 approval, post final evaluation by the IRDAI regulator, within 2 to 3 weeks.
Set up tech systems, hire core personnel, and establish important infrastructure within 12 months of receiving the R3 certificate of registration to make sure it doesn’t become invalid.
While each client gets a personal calendar drawn by our IRDAI experts, the above-mentioned one is an indication of what you need to do as part of your standalone health insurance company registration.
Work with Enterslice to avoid the following risks during standalone health insurance company registration compliance:
Our comprehensive scope of standalone health insurance company registration compliance services includes:
Enterslice consultants help you with company registration and licensing, including application, document reviews, liaison support post-submission, and coordination with authorities in case they have any questions.
We don’t just register your company but also make sure you follow each and every IRDAI rule and regulatory requirement, starting from getting the registration through on-time filings and event-based compliance.
Our legal associates take care of your entire paperwork, starting from filling out the application form, business plan drafting, declarations, resolutions, policies, risk management framework, and related supporting documents needed for standalone health insurance company registration.
To expedite your approval and successful registration, we assist in establishing an appropriate governance system with roles, policies, and internal procedures to support effective management and assist the company with regulatory expectations via its operations.
We send you reminders, assist you in handling your compliance dashboard, and prepare your calendar to make sure you file and submit your returns and reports on time, reducing the chances of penalties or license revocation due to late or missing returns.
To make sure you always remain compliant with the external and ever-changing insurance system, we constantly monitor the IRDAI regulations and related MCA/ROC regulations. Our plan is simple: identify and rectify the gaps to keep your business aligned with the outside landscape.
We also assist you with mandates relating to policyholders, claim handling, consumer communications, grievance management, and fair treatment, helping insurers maintain transparent and customer-friendly processes.
See why insurance companies trust Enterslice for standalone insurance company registration in India and IRDAI compliance:
Enterslice helps insurers recruit and grow with agents and partners after IRDAI standalone health insurance company registration.
Well, you should call us to get insight into where you stand with the registration. We help you register a company, document your funding sources, and check for board directors/promoter background. We also help you form a committee, prepare policies, draft a business plan, governance paperwork, operational strategy, and affidavits.
Get your final certificate and assistance with key personnel appointment, infrastructure inspection, and IT system setup.
Before you start registering an insurance company, you need to make sure you have a public-limited registered company in India and a capital of INR 100 crore, with a good business plan and financial projections. Rest, you leave everything to us.
Well, the process of the IRDAI works via a three-tier framework, which begins with you incorporating your company, then moving to promoter R1 background evaluation, next going to financial infusion in R2 & underwriting scrutiny, and final conclusion with R3 infrastructure verification for final certification.
Make sure you have at least INR 100 crore in capital and a non-refundable INR 5 lakh IRDAI application fee on the side, while keeping some budget for incorporation, actuarial, and operational infrastructure costs. Note that this doesn’t account for professional fees.
Once you have registered your SAHI company, you will need to continuously maintain the INR 100 crore capital, a 150% solvency ratio against liabilities, submit reports to the IRDAI, implement AML controls, and conduct regular audits.
You can expect anywhere between 12 and 18 months. That being said, your approval actually depends on how fast you reply to the IRDAI queries, committee formation, policy accuracy, background verifications, and operational setups.
We need you to submit your corporate documents like incorporation certificate (if you already have one), MOA, AOA, a brief business idea/list of products, previous years' financial track records, PAN, GST, and TAN of the company, and KYC details of the directors and promoters.
As a registered company, you are expected to maintain a 150% solvency ratio (1.5% of the liabilities) at all times to demonstrate your financial stability and make sure you can cover your customers' claims and provide the needed protection.
Operating or conducting a business without a proper IRDAI SAHI insurance registration could result in hefty penalties in crores, bank account freezing, immediate closure of operations, and even criminal actions against the promoters/directors.
Not at all. You don’t need to renew your standalone health insurance company certificate of registration because the license is granted indefinitely; now that being said you don’t think your license is not up for cancellation if you don’t comply with or follow IRDAI rules and regulations.
We make sure you never pay any late fees, get into any legal issues, or face revocation due to penalties.
Red Herring Top 100 Asia enlists outstanding entrepreneurs and promising companies. It selects the award winners from approximately 2000 privately financed companies each year in the Asia. Since 1996, Red Herring has kept tabs on these up-and-comers. Red Herring editors were among the first to recognize that companies such as Google, Facebook, Kakao, Alibaba, Twitter, Rakuten, Salesforce.com, Xiaomi and YouTube would change the way we live and work.
Researchers have found out that organization using new technologies in their accounting and tax have better productivity as compared to those using the traditional methods. Complying with the recent technological trends in the accounting industry, Enterslice was formed to focus on the emerging start up companies and bring innovation in their traditional Chartered Accountants & Legal profession services, disrupt traditional Chartered Accountants practice mechanism & Lawyers.
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Enterslice and Its team made starting my company and running very easy. Their contribution in raising funds was immense. I highly recommend Enterslice to any one who wants to start a business in India. Thank you guys keep up the good work.
Very professional services. I am highly impressed by their courteous and client oriented attitude.
Thanks for your services. The team is really professional. They make sure that things are delivered in time. The best part about Enterslice is the consultative approach and guiding us on all our business matters.
I would like to thank the Enterslice team for the excellent business plan made by them. They understood our requirement and gave us exactly what we wanted. Thank you Team Enterslice.
I have registered my Trademark through them. The application was filed within 3 days. And the charges were also very reasonable. We got TM Approved in 6 month’s time without any re-submission or objection. They charge high to deliver the best in industry.
They provided customized and Highly skilled CA &services. The management invests themselves in your work. They ensured timely NBFC registration and are always ready and prepared with excellent advisory services. The best part of working with Enterslice is they are not having expertise of law but they are well versed with Digital marketing skills &fintech business model.
Great set of people working together. Very customer friendly. I am very satisfied with the food license registration services and will definitely come back for other similar requirements.
I came to know about Enterslice through a friend. Since then I have done GST Registration through them. The services are consumer centric and fast. I have recommended them to many of my acquaintance already.
I chose Enterslice to start my new Indian adventure as entrepreneur, and respect my past experience i was surprised by their professionalism. In particular, Raksha T. followed my startup process, and i was delighted with her support on every moment. Great, great experience.
Amazing services provided by your organization. They have completed our NBFC registration order within stipulated time period of 90 days. They provide constant guidance and support in the process. Their support in building fintech software is amazing.
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