Corporate Agent Licence: IRDAI Registration for Companies and LLPs
A corporate agent licence lets a company, LLP or similar entity sell insurance on behalf of insurers and earn commission. IRDAI registers you under the Registration of Corporate Agents Regulations, 2015. We prepare the file, apply on the IRDAI portal and handle the compliance that follows.
What it is
A corporate agent licence is IRDAI’s permission for an entity, not an individual, to solicit and service insurance policies for insurers. You work under agreements with the insurers you tie up with. The insurer carries the risk. You bring the customer and earn commission.
The rules sit in the IRDAI (Registration of Corporate Agents) Regulations, 2015, as amended in 2022 and again in 2026. Commission can be paid only to a registered agent or intermediary, under Section 40 of the Insurance Act, 1938. If you want to advise customers independently across insurers, look at an insurance broker licence instead.
Who it applies to
Banks, NBFCs and lenders
A lender that wants to offer loan-linked cover to its own borrowers can register. Credit life and property cover are the usual examples.
Dealerships and service companies
Picture a Faridabad vehicle dealership that already talks to every buyer about finance and registration. Adding motor and health cover at the counter becomes a second income line.
LLPs, co-operatives and NGOs
Companies, LLPs, co-operative societies and other entities IRDAI recognises can apply. Individuals cannot: they register as individual agents instead.
Why it matters
Commission, no underwriting risk
You earn commission on policies sold. Claims and underwriting stay with the insurer, so you avoid the capital a risk-bearing business needs.
Choice for your customers
Since the 2022 amendment you can tie up with up to nine insurers in each of life, general and health. Customers get real choice.
On IRDAI’s record
Selling insurance without registration breaks the Insurance Act. A licence lets insurers pay you commission lawfully.
Documents required
About the entity
- Certificate of incorporation or LLP registration, with PAN
- MOA and AOA, or LLP agreement, showing insurance distribution as an object
- Board resolution authorising the application
- Latest audited financials, where the entity has them
People
- Details of directors or partners with PAN and address proof
- Principal Officer: qualification proof and IRDAI-prescribed training and exam certificate
- Specified persons who will actually sell, with their training certificates
Business set-up
- Business plan and proposed line of insurance
- Office address proof and basic infrastructure details
- Tie-up or consent letter from the insurer(s), as IRDAI requires for the application
- Professional indemnity cover details, where required
Corporate agent, broker or marketing firm
These three licences look alike but work differently. Pick based on whom you want to represent.
| Corporate agent | Insurance broker | Insurance marketing firm | |
|---|---|---|---|
| Acts for | The insurers it ties up with | The customer | Insurers, and sells other financial products too |
| Insurer tie-ups | Up to nine per line | Not tied to specific insurers | Up to six per line |
| Capital | Set by the Corporate Agents Regulations; we confirm at file stage | ₹75 lakh to ₹5 crore, by category | Net worth of ₹10 lakh |
| Who can apply | Companies, LLPs, co-operatives and other recognised entities | Companies, co-operatives, LLPs | Company, OPC or LLP |
If you also want to sell mutual funds or pension products, the insurance marketing firm route may suit you better.
How it works
Confirm your entity qualifies
We confirm that your entity type, objects clause and shareholders qualify. If the MOA does not mention insurance distribution, we fix that first.
Train your Principal Officer
You nominate a Principal Officer and specified persons. They complete the IRDAI-prescribed training and pass the exam before the application goes in.
Draft the file and apply on the portal
We prepare the business plan, resolutions and declarations, collect the insurer consent, and submit on the IRDAI portal. We answer IRDAI queries as they arrive.
Start selling, then stay compliant
After the certificate, we help with insurer agreements, annual fee payment and retraining of your Principal Officer and specified persons every three years.
Timelines
Registration path
There is no single fixed timeline. In practice, it depends on how fast training, exams and insurer consent come together. Slow replies to IRDAI queries add more time.
31 January 2027
Under the 2026 amendment, existing corporate agents must apply for a fresh certificate by this date. A window runs to 31 March 2027 with reasons and a ₹750 additional fee.
1 January 2027
From this date, every policy must be tagged to the responsible individual, whether a Principal Officer, specified person or point-of-sale person.
What happens if you miss it
You must stop operating
Under the 2026 amendment, an existing corporate agent that misses the deadline for the fresh certificate must cease and apply afresh.
Commission becomes unlawful
Section 40 of the Insurance Act allows commission only to registered agents and intermediaries. Unregistered selling puts both you and the insurer at risk.
Added cost, or a fresh start
Applying after 31 January 2027 attracts the ₹750 additional fee, and the window closes on 31 March 2027.
Frequently asked questions
Can an individual get a corporate agent licence?
No. A corporate agent licence is only for entities such as companies, LLPs and co-operative societies. An individual who wants to sell insurance registers as an individual agent through an insurer. If you run a business and want to sell in the name of your entity, the corporate agent route is the right one, and we can check whether your entity qualifies.
How many insurers can a corporate agent work with?
Up to nine insurers in each of life, general and health. The 2022 amendment to the Insurance Intermediaries regulations raised the earlier ceiling of three. Here is the catch: each tie-up needs a signed agreement with that insurer. You can start with one or two and add more later.
Who is the Principal Officer?
The Principal Officer is the person IRDAI holds responsible for your agent business. They need the qualification the regulations specify, IRDAI-prescribed training and a pass in the exam. Under the 2026 amendment, the Principal Officer and specified persons must retrain at least once every three years. We track those dates for you.
What changed for corporate agents in 2026?
IRDAI moved registration from three-year renewals to continuous registration. The Insurance Intermediaries (Amendment) Regulations, 2026 dated 30 July 2026 add an annual fee of the higher of ₹10,000 or 0.04% of commission and other receipts. Existing agents apply for a fresh certificate by 31 January 2027. We map each date for your entity.
How is a corporate agent different from a broker?
A corporate agent works for the insurers it ties up with, while a broker acts for the customer and compares across insurers. A broker also needs ₹75 lakh to ₹5 crore of capital depending on category. We can compare both routes against your plan before you apply.
Can a bank or NBFC be a corporate agent?
Yes. Banks, NBFCs and other regulated lenders are common corporate agents, often selling credit-linked cover. They follow the same Corporate Agents Regulations, and their own regulator’s rules also apply. If you are an NBFC, we can check both sets together.
Do I need my own staff to sell?
Yes. Only your Principal Officer and trained specified persons may solicit business. Each must hold the prescribed training certificate. From 1 January 2027, policies are tagged to the individual who sold them. Hire and train before you start selling. We help you plan how many people you need.
What compliance continues after the licence?
You pay the annual fee, keep your Principal Officer and specified persons trained every three years, follow insurer agreements and IRDAI’s code of conduct, and file whatever IRDAI asks for. The entity also keeps its ROC and tax filings current. We handle this as an ongoing service.
What it costs
Our fee plus the government fee that applies to your case, quoted before you commit. Tell us the situation and we will price it exactly.
Government charges for this licence include IRDAI’s application fee and, from the 2026 regime, the annual fee of the higher of ₹10,000 or 0.04% of your commission and other receipts from insurers in the preceding financial year. Training and exam fees go to the recognised training body.
Ready to begin?
Tell us your entity and the insurers you want to work with. We will map the licence path and the 2026 dates.