Insurance Web Aggregator License: Complete Eligibility Criteria

Insurance Web Aggregator License

IRDA certification process for insurance web aggregators is the most difficult among all the processes to get IRDA licenses. Meant for the web aggregators of insurance policies,  this “IRDA license” requires the applicant to cross a lot of hurdles; one of which is the eligibility criteria. While many blogs have hinted towards the criteria – giving a few points, none of them have provided a complete list of what makes an applicant eligible to acquire insurance web aggregator license.

That’s the issue we are solving through this blog. By reading what we have presented here, you’ll have a complete picture of the requirements for certification of web aggregators in insurance.

Three types of eligibility criteria for Insurance Web Aggregator License

The original document has presented a list that can confuse those who read it. Thus, our consultants have divided the eligibility criteria into three sections:

  1. General Eligibility Criteria
  2. Eligibility Criteria pertaining to principal officer
  3. Miscellaneous Criteria

General Eligibility Criteria for the applicant

The general eligibility criteria is referred to  the general terms and conditions that the applicant must abide by before applying for IRDA license in India.

  1. The applicant has to be an entity as defined by the IRDA rules: As per the rules of Insurance web aggregator license in India, only the following types of entities have the right to apply for the license:
    1. A Company incorporated under the Companies Act 2013
    2. An LLP or Limited Liability Company incorporated under the Limited Liability Partnership Act 2008. No partner in the LLP should be a non resident of India.
    3. An entity that has been recognized by the authority to become an insurance web aggregator. It’s a vague term. But, in certain special circumstances, IRDA can authorize someone to become a web aggregator of insurance policies.
  2. The entity is only allowed to be an insurance web aggregator: You can’t become eligible for IRDA web aggregator license if you treat insurance web aggregation as a side business. Thus the MOA of your company or the LLP agreement of your LLP should specify that you exclusively provide insurance web aggregation services.
  3. No prior relation to the insurance industry: If you’re registered as a corporate agent, insurance agent, micro insurance agent, surveyor and loss assessor, TPA or any insurance marketing firm, or any other entity that acts as an insurance intermediary, you are seen fit to get the license to operate as one of the web aggregators in India.
  4. No referral agreement with an insurer: If you’re someone who has been referred by an insurer, you can’t be deemed worthy to get insurance web aggregator license in India.
  5. Only one insurance web aggregator license: The IRDA agent licensing portal or the IRDA web aggregation licensing portal only allows for the certification of only one insurance web aggregator certification per entity.
  6. A website must be present: The business of aggregating insurance policies on web hinges on the applicant having a website. If the applicant doesn’t have a website to facilitate the business, no online insurance license for web aggregation shall be issued to them.

Eligibility Criteria pertaining to the Principal Officer

A “Principal Officer” is referred to the partner or the director responsible for all the activities of insurance web aggregation. He can also be a CEO exclusively appointed to do functions associated with insurance web aggregator. Following is the eligibility criteria pertaining to a principal officer.

  1. Mandatory Educational Qualification is required: Following is the educational qualification the principal officer of the applicant company or LLP is required to have:
    1. Any graduation of post graduation degree from a institute or university recognized by the state or central government, or
    2. An associate of insurance institute of India or
    3. any post graduation qualification from IIRM or Institute of Insurance and Risk management, or
    4. Fellow or Associate of ICAI (Institute of Chartered Accountants of India), or
    5. Fellow or Associate of ICWAI (Institute of Cost and Works Accountants of India), or
    6. Fellow or associate of ICSI (Institute of Company Secretaries of India), or
    7. Fellow or Associate of IAI (Institute of Actuaries of India), or
    8. Acquired certificate of association from IIB or Indian Institute of Bankers.
  2. The principal officer must be of a sound mind: The principal officer must be must meet the conditions of the FIT and PROPER Criteria.
  3. The principal officer must undergo training: The first general eligibility criteria state that an entity deemed by the authority can be considered for insurance web aggregator license. Indian Institute of Insurance provides insurance web aggregation training. Undergo that training and acquire the passing certificate to convince the authority to deem you worthy to get IRDA license.

Related Content: IP1 License

Miscellaneous criteria for Insurance Web Aggregator License

The miscellaneous criteria are points of eligibility criteria applicable under special conditions. The points are as follows:

  1. The insurance brokers the web aggregators work with should be qualified: As per the guidelines IRDA license. Download of the application form must only take place if the potential brokers of the web aggregators have gone through the required training.
  2. If the applicant has violated any rules of insurance web aggregation, license would be issued: There are some obligations of insurance web aggregator that they have to abide by. If the IRDAI finds the aggregator has violated any rules specified in the rulebook, license won’t be issued.
  3. The authority have not rejected the previous application for insurance web aggregator: If you’ve filed the application for web aggregation certification before that got rejected by the IRDAI, you won’t be given a second chance to get the license.
  4. Granting you the license is in interest of public: One of the toughest eligibility criteria to meet is being consider a service provider whose services are in the best interest of public. If the IRDAI doesn’t see your services in the interest of the public, your application will be rejected.
  5. Conditions of transferring the license: this criteria is not for obtaining the license, but to transfer it to another. The Insurance license transfer process consist of resignation of the current principal officer from the company and then filing for license transfer.


Ranging from reasonable to unfair, the eligibility criteria of the IRDA license are of various types. However, before you get the answer to how to IRDA license,  you still have to meet those criteria. That’s where our consultants come in. We can present you as an applicant that deserves the license. By the time we are done, you’ll be able to download the IRDA certificate with URN number.


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