May 29, 2024
Insurance Web aggregator

An insurance web aggregator is an insurance intermediary without any human element. Instead, it’s a website that allows users to browse insurance policies of different companies, compare between them and buy the one that suits their requirement.

For that very reason, the Insurance web aggregator license, the permission to start this insurance portal is in high demand.

This article will act as a short guide to you. It will explain to you the definition of an Insurance web aggregator license in India and the procedure you can follow to obtain it.

Read down to find the precise steps you need to take to obtain IRDA license for Insurance web aggregator. Read More: Start New Business

What is Insurance Web aggregator license?

Insurance intermediation or insurance brokering has been one of the foremost insurance business in India. However, as time went by, people realized that much like other services, they can just by insurance policies through online. Such a measure would:

  1. Remove the need of an human intermediary and therefore reducing any occurrence of fraud, and
  2. Ensure that people can instantly buy insurance policies without any cumbersome document requirements.

The solution was Insurance web aggregator. It’s a platform that aggregates – collects – information about different insurance policies from affiliate insurance companies and presents them as insurance products to the visitors. The visitors can:

  1. Come to the website and look at the insurance policies
  2. Read through these policies’ terms and conditions
  3. Make their own mind about which one to buy, and
  4. Purchase the insurance policy that suits his or her requirement.

When the platform is providing the aforementioned services, it’s not allowed to play favourites or convince the visitor in any way that one insurance policy is better than the other. Everything from choosing the insurance policy to buying it falls on the shoulders of the visitor.

What is the eligibility criteria to start an Insurance Web aggregator?

Insurance Regulatory Development Authority of India who governs the license of insurance web aggregator, has set forth the following eligibility criteria for it:

  1. The applicant of the web aggregator license must be a company or an LLP.
  2. It should be mentioned in the company’s MOA or the LLP’s agreement that the business objective is to provide insurance web aggregator services to customers
  3. The applicant must not have any prior associations with the Insurance domain
  4. A principal officer, the one who undertakes the necessary tasks of insurance web aggregation should have the appropriate qualifications.
  5. All the members of the applicant’s company or LLP must adhere to the fit and proper criteria.

What is the procedure to obtain Insurance web aggregator license?

The process to get the Insurance web aggregator license is quite standard and has the following steps:

  1. First, you must incorporate your business as a company or an LLP
  2. Then, you need to appoint a director as the Principal officer. Make sure that he or she has all the required qualifications.
  3. Get the principal officer certified by the IRDA
  4. File the application for IRDA license for insurance web aggregation
  5. Upload the required documents.
  6. Wait for a couple of months and deal with any issues of the application
  7. Once the application is accepted, you’ll get the IRDA license.

How long the insurance web aggregator license is valid for?

IRDA issues the web aggregator license for 3 years. Afterwards, your code of conduct during this validity period decides whether or not IRDA license renewal is possible for you.


An Insurance Web Aggregator is an insurance intermediary in the form of an online portal. It aggregates insurance policies, presents them as products and sells them to the customers. For more information about Insurance Web aggregator, consult with our experts.

In this article about Insurance web aggregator license, we give you a brief overview about the eligibility criteria, procedure and the documents required to obtain this IRDA license.

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