What is an Insurance Web Aggregator?

It is an entity that operates a website to compare products of different insurance companies and generate leads.

What is the minimum capital required?

A minimum paid-up capital of ₹25 Lakhs is required to apply for the license.

Can a Web Aggregator sell policies directly?

They primarily generate leads and facilitate sales; the actual policy issuance is done by the insurance company.

Can I use any website for aggregation?

No, the website must be owned by the applicant company and must comply with IRDAI's display and comparison norms.

What is the role of the Principal Officer?

The PO is responsible for ensuring that the website and the lead generation process comply with IRDAI regulations.

How do Web Aggregators earn?

They earn through lead generation fees and commissions from the insurers for policies sold via their platform.

How long is the license valid?

The license is valid for 3 years and can be renewed by complying with the ongoing reporting norms.

Is a system audit mandatory?

Yes, a system audit by a qualified professional is mandatory before applying and periodically thereafter.

Service

IRDAI Insurance Web Aggregator License

Full support for obtaining the Insurance Web Aggregator license. Guidance on ₹25 Lakhs capital, portal security, and IRDAI compliance.

The Digital Gateway to Insurance

Full support for obtaining the Insurance Web Aggregator license. Guidance on ₹25 Lakhs capital, portal security, and IRDAI compliance.

Get registered as an IRDAI Insurance Web Aggregator to operate price comparison portals and digital insurance marketplaces.

Build the next PolicyBazaar. Register with IRDAI to provide online insurance comparisons and facilitate digital policy sales legally.

An Insurance Web Aggregator is an intermediary that maintains a website for providing information on insurance products of different insurers. They allow customers to compare prices, features, and benefits of various policies online and then redirect the customer to the insurer for the final purchase.

With the boom in digital financial services, the Web Aggregator license has become critical for Fintech companies looking to enter the insurance space. These entities are governed by the IRDAI (Insurance Web Aggregators) Regulations, 2017, which ensure that digital platforms provide accurate and helpful information to consumers.

QuickTaxperts provides professional guidance for tech entrepreneurs, covering company setup, capital requirements, and the complex IRDAI portal registration process.

Category: Insurance
Enables lead generation for multiple insurance companies.
Authorized to display comparisons for Life, General, and Health insurance.
Mandatory use of the IRDAI-approved comparison engine/framework.
Requires high standards of cyber-security and data protection.
Mandatory for operating insurance comparison websites
Registration under IRDAI (Web Aggregator) Regulations, 2017
Requires a minimum paid-up capital of ₹25 Lakhs
Strict norms for unbiased comparison and data security

Web Aggregator Eligibility

Prerequisites for the digital license.

Legal Entity: Must be a Company incorporated under the Companies Act.
Capital: Minimum paid-up capital of ₹25 Lakhs is mandatory.
Portal Ownership: The applicant must own the domain and the comparison software.
Principal Officer: Must meet IRDAI's qualification and training standards.

Documents required

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

Web Aggregator Checklist: Certificate of Incorporation and MOA/AOA (Specific objects).; Networth Certificate from a Statutory Auditor.; Principal Officer's training and exam certificates.; Detailed profile of the website/portal (Domain details).; Snapshots of the comparison engine and user flow.; Cyber Security and System Audit report.; Agreement with the partnering insurance companies.

Process and timeline

Portal Development: Building the comparison website as per IRDAI's display norms.
System Audit: Getting the website and server security audited by a CERT-In empanelled auditor.
Application Filing: Submitting the application to IRDAI with all technical and financial details.
IRDAI Presentation: Demonstrating the comparison engine and logic to the IRDAI technical team.
License Grant: Obtaining the final Insurance Web Aggregator Certificate of Registration.

Expert review

IRDAI Insurance Web Aggregator License content is reviewed by QuickTaxperts Digital Insurance Team, Fintech Regulatory Specialists.

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 an Insurance Web Aggregator?: It is an entity that operates a website to compare products of different insurance companies and generate leads.
What is the minimum capital required?: A minimum paid-up capital of ₹25 Lakhs is required to apply for the license.
Can a Web Aggregator sell policies directly?: They primarily generate leads and facilitate sales; the actual policy issuance is done by the insurance company.
Can I use any website for aggregation?: No, the website must be owned by the applicant company and must comply with IRDAI's display and comparison norms.
What is the role of the Principal Officer?: The PO is responsible for ensuring that the website and the lead generation process comply with IRDAI regulations.
How do Web Aggregators earn?: They earn through lead generation fees and commissions from the insurers for policies sold via their platform.
How long is the license valid?: The license is valid for 3 years and can be renewed by complying with the ongoing reporting norms.
Is a system audit mandatory?: Yes, a system audit by a qualified professional is mandatory before applying and periodically thereafter.