Overview
A Corporate Agent is an entity (other than an individual) that solicits or procures insurance business for insurance companies. This license is suitable for entities like Banks, NBFCs, or other companies that have a large customer base and wish to cross-sell insurance products.
A Corporate Agent can represent up to 3 Life, 3 General, and 3 Health insurers, providing significant choice to their customers.
License Categories
Corporate Agent (Life)
Authorized to sell only Life Insurance products.
Corporate Agent (General)
Authorized to sell only General (Non-Life) Insurance products.
Corporate Agent (Health)
Authorized to sell only Health Insurance products.
Composite
Authorized to sell all types of insurance products (Life, General, Health).
Eligibility Criteria
- Capital: Minimum capital of ₹50 Lakhs.
- Net Worth: Must maintain a net worth of at least ₹50 Lakhs at all times.
- Infrastructure: Adequate office space, equipment, and trained manpower.
- Fit & Proper: Directors and Principal Officer must satisfy fit and proper criteria.
Why setup a Corporate Agency?
Revenue Stream: Great way to monetize an existing customer base by offering relevant insurance covers (e.g., auto loans + car insurance).
Frequently Asked Questions
Find answers to common questions about Corporate Agent License.
What documents are required for Corporate Agent License?
Required documents typically include identity proof, address proof, business plan, financial statements, and specific regulatory forms. Our team will provide a complete checklist during consultation.
How long does the registration process take?
The timeline varies based on complexity and regulatory requirements. Typically, the process takes 30-90 days. We offer fast-track options for urgent requirements.
What is the cost for this service?
Pricing depends on the specific requirements and scope. Contact us for a customized quote. We offer competitive pricing with transparent fee structures.
Do you provide post-registration support?
Yes! We provide comprehensive post-registration compliance support including annual filings, regulatory updates, and ongoing advisory services.
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- 6-Month Compliance Support
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For large organizations
- Everything in Professional
- Multi-Entity Support
- Annual Compliance Retainer
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