Insurance Web Aggregator License in Punjab
For Punjab's insurtech ecosystem, a licensed web aggregator is the infrastructure behind transparent, compliant insurance comparison.
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Punjab's economy is rooted in agriculture — the heartland of India's Green Revolution — alongside a strong agri-equipment manufacturing base centred on Ludhiana, and one of the country's largest NRI remittance inflows. For Punjab's insurtech ecosystem, a licensed web aggregator is the infrastructure behind transparent, compliant insurance comparison.
Whether you're an insurtech or a comparison platform in Punjab, StartRight4U prepares your application to clear IRDAI scrutiny.
What Is an Insurance Web Aggregator License?
An Insurance Web Aggregator License is IRDAI's authorisation for an entity to operate a website that displays, compares, and helps customers select insurance products from multiple insurers — under the IRDAI (Insurance Web Aggregators) Regulations. Unlike an insurance broker, a web aggregator's core function is information display and comparison; it can also facilitate the actual sale, but always within IRDAI's specific web aggregator framework.
Why This License Is Necessary
A website comparing and selling insurance products from multiple insurers is effectively influencing a customer's purchase decision on a regulated financial product — which is exactly why IRDAI requires a dedicated license before that kind of platform can legally operate. It sets standards for accurate product display, fair comparison, and proper disclosure that an unregulated comparison site wouldn't be bound by.
Eligibility Criteria for Web Aggregator License
- Registered as a company under the Companies Act, 2013
- Minimum capital requirement as prescribed under IRDAI's Web Aggregator Regulations
- A functional website meeting IRDAI's technical and disclosure standards for product comparison
- Promoters and directors who satisfy IRDAI's fit-and-proper criteria
- Trained personnel to handle customer queries where the platform facilitates policy sale
Documents Required for Web Aggregator License
- Certificate of incorporation and Memorandum & Articles of Association
- Net worth certificate and capital adequacy documentation
- Website architecture and product-display methodology document
- KYC and background documentation for directors and key managerial personnel
- Board resolution approving the license application
Step-by-Step Web Aggregator Licensing Process
- Incorporate a company meeting the applicable capital requirement
- Build the website platform to IRDAI's product-display and disclosure specifications
- Submit the application to IRDAI, including the capital and technology documentation
- Respond to IRDAI's scrutiny of the platform and promoter background
- Receive the Certificate of Registration and launch the platform under IRDAI's web aggregator norms
Why Choose StartRight4U
StartRight4U combines regulatory experience with an end-to-end execution team — documentation, technical review, and direct liaison on your application — so you're not navigating the process alone.
- Dedicated specialists, not a generic filing service
- Clear, upfront documentation checklist — no last-minute surprises
- Direct support through queries and clarifications during review
- Transparent pricing with no hidden charges