IRDA License Registration Online Service in India
Become an authorized insurance intermediary. Trusted by professionals and startups alike.
Introduction and Its Compliance
IRDA License is granted by the Insurance Regulatory and Development Authority of India (IRDAI) to the entities or individuals that wish to act as insurance brokers, agents, corporate agents, web aggregators, and third-party administrators. It is an obligatory licence as per the provisions of Section 8 of the IRDAI Act, 1999 for carrying any insurance business in India. Professionals Law provides the entire help in obtaining the IRDA license and maintaining IRDAI compliance provisions and regulations.
Why It Is Needed
You will be needing to hold an IRDA License to operate legally in the insurance industry in India. Regardless of if they sell insurance coverage, provide advisory services, or administrate policies as intermediates, companies need to be in possession of a valid IRDAI license. Without it, any insurance business or duty is deemed to be unauthorized and be subject to penalties or punishment.
Benefits and Advantages
Legal Authorization to Sell Insurance
Holding an IRDA license provides official recognition and legal authority to distribute and manage insurance products.
Increased Business Credibility
A licensed entity is more trusted by customers, insurers and regulatory bodies, improving professional credibility.
Wider Market Access
License holders can offer services across various insurance segments—life, health, general and reinsurance—depending on the license type.
Revenue Opportunities
IRDA license opens multiple income streams through commissions, policy management and insurance consulting.
Association with Top Insurance Companies
Licensed brokers and agents are eligible to collaborate with major insurers for selling and servicing policies.
Eligibility Criteria
- Must be a registered company or LLP (for corporate agents/brokers)
- Individuals must meet qualification and training standards prescribed by IRDAI
- Minimum capital requirements (varies by license type, e.g., ₹75 lakh for direct brokers, ₹5 crore for reinsurance brokers)
- Key managerial persons should have relevant experience and a clean legal and financial record
- Must have infrastructure and IT systems in place to manage insurance operations
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Documents Required
Steps for Applying
License Type Identification
Professionals Law helps determine the appropriate IRDA license type based on your business model.
Company Setup
Assist with company incorporation and capital requirements as per IRDAI norms.
Documentation Preparation
Complete collection and verification of documents as required by IRDAI.
Online Filing
Submission of application through the IRDAI BAP portal.
IRDAI Review
Clarification and inspection process by the authority.
Grant of License
Upon successful scrutiny, IRDAI issues the license with a unique registration number.
Frequently Asked Questions
Who needs an IRDA license?
Can an individual apply for an IRDA license?
What is the validity of the IRDA license?
Can one entity hold multiple insurance licenses?
What are the capital requirements for corporate brokers?
Is it mandatory to have a physical office?
Can foreign investment be made in IRDA license holders?
How can Professionals Law help?
What happens if a license is not renewed on time?
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