What is a Corporate Agent?

A Corporate Agent is a corporate entity (like a bank or company) licensed by IRDAI to sell insurance products of insurers.

How many companies can a Corporate Agent represent?

A Corporate Agent can represent up to 3 Life, 3 General, and 3 Health insurance companies.

Is there a minimum capital requirement?

Unlike brokers, there is no specific minimum capital for CAs, but the entity must be financially sound and meet networth criteria.

Who is a 'Specified Person'?

A Specified Person is an employee of the Corporate Agent who is trained and authorized to sell insurance products.

Can an NBFC become a Corporate Agent?

Yes, many NBFCs use this license to provide insurance coverage along with their loan products.

What is the validity of the CA license?

The IRDAI Corporate Agent license is valid for 3 years and must be renewed periodically.

What is the application fee?

The non-refundable application fee is typically ₹25,000 for a single category and higher for composite.

Can a CA handle claims?

Corporate Agents primarily facilitate the sale; however, they can assist clients in the claim documentation process.

Service

IRDAI Corporate Agent Registration

Legal assistance for obtaining IRDAI Corporate Agent (CA) registration. Perfect for banks and firms looking to diversify into insurance distribution.

Institutional Insurance Distribution

Legal assistance for obtaining IRDAI Corporate Agent (CA) registration. Perfect for banks and firms looking to diversify into insurance distribution.

Enable your company, bank, or NBFC to sell insurance products by obtaining the IRDAI Corporate Agent registration.

Leverage your corporate network. Get licensed by IRDAI to sell life, general, and health insurance as an institutional partner.

A Corporate Agent is an entity other than an individual, who is registered by the IRDAI to act as an agent for insurance companies. This license is primarily used by banks (Bancassurance), NBFCs, and other corporate entities that want to offer insurance products to their customers as an add-on service.

Corporate Agents can choose to represent a single insurer or multiple insurers. Under current regulations, they can partner with up to three insurers each in Life, General, and Health insurance categories, providing their clients with a decent range of choices.

QuickTaxperts provides professional support for obtaining the Corporate Agent license, ensuring your Principal Officer is qualified and your internal sales processes meet IRDAI's transparency standards.

Category: Insurance
Ideal for banks, NBFCs, and established retail companies.
Lower capital requirement compared to insurance brokerage.
Mandatory training for the Principal Officer and Specified Persons.
Requires a clear agreement with the partnering insurance companies.
Mandatory for companies/banks selling insurance products
Registration under IRDAI (Registration of Corporate Agents) Regulations, 2015
Can represent up to 9 insurers (3 Life, 3 General, 3 Health)
Popularly known as the 'Bancassurance' model for banks

Corporate Agency Categories

Define your scope of insurance sales.

Life: Authorized to sell only Life insurance products.
General: Authorized to sell only General (Non-Life) insurance products.
Health: Authorized to sell only Health insurance products.
Composite: Authorized to sell a combination of Life, General, and Health products.

Documents required

Document requirements vary by entity type, state, premises, and authority. These are the usual groups we verify before submission.

Corporate Agent Checklist: Certificate of Incorporation and MOA/AOA.; Audited Financial Statements for the last 3 years.; Principal Officer's qualification and training certificates.; List of 'Specified Persons' who will be selling insurance.; Board Resolution authorizing the insurance agency business.; Proposed agreement with the Insurance Companies.; Networth Certificate from a Chartered Accountant.

Process and timeline

PO Training: Selecting and training the Principal Officer as per IRDAI norms.
Application Filing: Submitting Form A on the IRDAI portal for Corporate Agency registration.
Fee Payment: Payment of application fees (approx ₹25,000 + GST for the category).
IRDAI Review: Responding to queries regarding the company's existing business and distribution model.
License Grant: Receiving the Certificate of Registration as a Corporate Agent.

Expert review

IRDAI Corporate Agent Registration content is reviewed by QuickTaxperts Insurance Advisory Team, Distribution Compliance Experts.

Checklist-led review
Document pre-verification
Authority-specific next steps

Frequently asked questions

These quick answers cover common planning questions before you request a checklist or quote.

What is a Corporate Agent?: A Corporate Agent is a corporate entity (like a bank or company) licensed by IRDAI to sell insurance products of insurers.
How many companies can a Corporate Agent represent?: A Corporate Agent can represent up to 3 Life, 3 General, and 3 Health insurance companies.
Is there a minimum capital requirement?: Unlike brokers, there is no specific minimum capital for CAs, but the entity must be financially sound and meet networth criteria.
Who is a 'Specified Person'?: A Specified Person is an employee of the Corporate Agent who is trained and authorized to sell insurance products.
Can an NBFC become a Corporate Agent?: Yes, many NBFCs use this license to provide insurance coverage along with their loan products.
What is the validity of the CA license?: The IRDAI Corporate Agent license is valid for 3 years and must be renewed periodically.
What is the application fee?: The non-refundable application fee is typically ₹25,000 for a single category and higher for composite.
Can a CA handle claims?: Corporate Agents primarily facilitate the sale; however, they can assist clients in the claim documentation process.