Insurance Repository Registration in India
An insurance repository keeps insurance policies in electronic form for policyholders through e-insurance accounts. It is an IRDAI-regulated intermediary, so insurance repository registration needs IRDAI approval, a ₹25 crore net worth before the certificate issues, and no foreign direct investment.
What it is
An insurance repository is a company that holds insurance policies in electronic form on behalf of insurers, so a policyholder can keep life, health, motor and other policies in one e-insurance account (eIA). The repository does not sell or underwrite insurance. It stores, serves and safeguards policy data.
The 2025 insurance law reforms widened the definition of an insurance intermediary to include insurance repositories expressly, which places them squarely under IRDAI’s intermediary framework. A company cannot act as a repository until IRDAI approves and registers it.
Who it applies to
Institutions with strong data and trust credentials
Public financial institutions, wholly owned subsidiaries of SEBI-registered depositories and companies promoted by the Life or General Insurance Council are among the eligible categories, because the role calls for scale, neutrality and data security.
Fintech or data-infrastructure promoters
Say a Noida data-infrastructure group wants to host policy records for insurers. It can explore the route, but it must bring the net worth and the track record IRDAI looks for.
Founders who only want to sell or compare policies
If you want to sell, advise or compare insurance, a repository is the wrong licence. The broker or web aggregator route fits better.
Why it matters
One account for all policies
Policyholders can see and manage their policies together, which cuts lost papers and speeds up service requests.
Neutral position between insurers
A repository serves several insurers, so its value rests on neutrality, security and uptime rather than on selling.
Regulated, recurring role
Registration is a long-term infrastructure business, so it suits promoters who plan to stay.
Repository, aggregator or broker: which licence?
| Insurance repository | Web aggregator | Insurance broker | |
|---|---|---|---|
| Main role | Hold policies in electronic form | Compare and sell online | Advise and place risk |
| Sells insurance? | No | Yes, online | Yes |
| Typical applicant | Institutions, depository subsidiaries, council-promoted companies | Fintech companies and LLPs | Advisory firms |
In practice, most founders who come to us asking about a repository actually want one of the other two, and that turns out to be a much lighter project. We sort that out in the first call. See our web aggregator and broker pages.
Documents required
About the applicant
- Certificate of incorporation and constitution documents with repository as an objective
- Proof of share capital and a net worth of at least ₹25 crore
- Audited financials of the company and promoters
- Shareholding and group structure
About the people
- Directors’ and promoters’ fit-and-proper declarations
- Experience details of the management team
- Details of the compliance and grievance officers
About the system
- Technology architecture for storing electronic policies
- Data security, backup and disaster-recovery plan
- Policy on eIA opening, access and servicing
- Business plan and insurer tie-up approach
How it works
Check fit before spending
We review whether a repository is really what you want. Then we test whether your promoters meet IRDAI’s expectations on net worth and background.
Set up the entity
We help form a public company with insurance repository as its object.
Prepare the application
We compile the entity, people and system documents, get the net worth supported by a CA certificate and draft the business plan.
Apply to IRDAI and respond
We file the application, coordinate with IRDAI and answer queries. Here is the catch: IRDAI looks hard at data security, so the technology section needs to be ready before filing.
Prepare for operations
After approval we help with insurer agreements, annual fee payment and compliance calendars.
Timelines
Net worth before the certificate
IRDAI’s 2011 guidelines ask for a net worth of ₹25 crore before the certificate of registration is issued.
Annual renewal
Under the same guidelines the certificate is renewed every year on payment of an annual fee of ₹20,000.
2025 Act change to watch
The 2025 amendment says intermediary licences stay in force until suspended or revoked, subject to annual fees. We confirm how IRDAI applies this to repositories when we file.
What happens if you miss it
Acting without registration
Holding policies in electronic form as a repository without IRDAI approval breaches the framework, and IRDAI penalties can now reach ₹10 crore.
Net worth shortfall
An applicant that cannot show the ₹25 crore net worth before the certificate issues will not be registered.
Annual fee default
Under the 2011 guidelines the certificate is renewed each year on payment of the annual fee, so missing it puts the registration at risk.
Frequently asked questions
What is an insurance repository?
An insurance repository is an IRDAI-regulated entity that maintains insurance policies in electronic form for insurers, and offers policyholders e-insurance accounts. It does not sell or underwrite insurance. We help applicants prepare for the registration.
Is IRDAI approval mandatory for a repository?
Yes. An entity must obtain IRDAI approval and registration before maintaining insurance policies in electronic form as a repository. The 2025 amendment also expressly lists insurance repositories among insurance intermediaries. We prepare your application and handle the IRDAI queries.
What net worth is needed for an insurance repository?
IRDAI’s 2011 guidelines on insurance repositories ask for a net worth of ₹25 crore before the certificate of registration is issued. This is a serious capital commitment, so the route suits institutions rather than small start-ups. We help prepare the net worth proof, supported by a CA certificate.
Who can apply to become an insurance repository?
Under the 2011 guidelines, an applicant must fall in one of five groups: a public limited company with at least ₹5 lakh of share capital, a public financial institution, a wholly owned subsidiary of a SEBI-registered depository, a company promoted by the Life or General Insurance Council, or another institution IRDAI permits. We check your structure before filing.
Can foreign investors or insurers own a repository?
No foreign direct investment is allowed, and no single insurance company may hold more than 10% of the paid-up capital, as per the 2011 guidelines. We confirm that these limits still apply in IRDAI’s latest notifications before you commit capital or sign shareholder terms.
What are the IRDAI fees for a repository?
The 2011 guidelines set an application processing fee of ₹10,000, which is non-refundable, a registration fee of ₹50,000 on approval, and an annual fee of ₹20,000 for yearly renewal. These are government fees and are quoted separately from ours. We confirm the current amounts when we file.
Is a repository the right licence for a policy comparison app?
No. A comparison app that sells or lists policies for a commission needs a web aggregator registration, and one that advises clients needs a broker licence. A repository only stores policy data. We help you choose the right category in the first call so you do not spend on the wrong application.
How does Taxhint help with insurance repository registration?
We assess whether the repository route fits, set up the public company, prepare the net worth proof, documents and business plan, file with IRDAI and answer queries. Technology audits and certifications are done by qualified experts. We coordinate them and stay with you for post-approval compliance.
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.
IRDAI’s 2011 guidelines on insurance repositories list a non-refundable application fee of ₹10,000, a registration fee of ₹50,000 and an annual fee of ₹20,000. We confirm the amounts that apply on the day of filing and quote them separately from our fee.
Ready to begin?
Tell us who the promoters are and what you plan to build, and we will confirm whether a repository registration fits.