The fear of future’s uncertainty pushes many to buy insurance policies. By insuring your life, you can make sure that in case of any mishap, the future of your family is secure. That being said, the current population of India combined with the number fake insurance policies that are floating around, it has become difficult to find the correct place from which one can buy insurance policies. That’s where, the Insurance Web Aggregator has stepped in as a player.

What is an Insurance web aggregator and how can you become one? In this article, we will shed a light on these two questions and reveal answers. 

What is an Insurance Web Aggregator?

A Web aggregator is someone that collects articles, products or anything from all over the web or the real life and put them on display on a website. In the same fashion, an Insurance Web aggregator is the collector and displayer of insurance policies. A purveyor of insurance products, the insurance web aggregator follows a business model of:

  • Connecting with different insurance companies.
  • Enter into an agreement with them.
  • Display their insurance policies as products on his website.

Let the user navigate his website to see, choose, get information for, compare and buy the insurance policies.

The nature of the service rendered and the complexity of the insurance policy products make it necessary that only IRDA approved individuals or companies can become insurance web aggregators. 

Who can become Insurance Web aggregators?

As we have already stated, one has to get approval from the Insurance Regulatory and Development Authority of India (IRDA) to become an purveyor of insurance policies. That said, not everyone can ask for such an approval, for there is a set eligibility criteria for the same.

The applicant should either be registered as a company or a Limited Liability Partnership

The applicant should pledge to only do the business of selling insurance policies online.

The applicant should not be either registered as or any individual who is working for him:

  • Registered as an insurance agent
  • Registered as a corporate agent
  • Registered as a microfinance agent
  • Registered as a surveyor and loss assessor
  • Registered as an insurance marketing form or registered as a micro insurance agent.

Note: An insurance web aggregator is only in the business of presenting insurance policies from several companies online and aiding the visitor of the website to compare and buy those policies. Nothing more.

The applicant should have a principle officer at the head of the company or the LLP who is an expert in the matters of insurance web aggregation. To be more precise, that principle officer should have received proper training from the IRDA

The principle officer and the other members of company/LLP should fit the “FIT and Proper” Criteria needed by the court of law to conduct a business as complex as selling insurance policies.

The applicant should not have been convicted for any white collar crime.

If the applicant is someone whose previous insurance web aggregation license was cancelled, he won’t get a second chance to get it. 

Related Content: RNI Registration

What is the process of becoming an Insurance web aggregator?

If you’ve dived deeply into the eligibility criteria, you already know the first thing that you have to do to become a seller of online insurance policies:

Incorporate your insurance business as a company or an LLP and make sure that you’ve clearly mentioned in the MOA and you’re in fact in the business of selling online insurance policies.

File the application and the required documents you’ve attached to it: Following are the documents required for Insurance web aggregator license:

  • Certificate of incorporation of the LLP or the company
  • MOA and AOA/ LLP agreement
  • PAN card of the company or LLP
  • Partner profiles/director profiles of the LLP/Company
  • Education qualification documents of the principle officer.
  • Content description of the web aggregator website.
  • Website hosting details
  • Content management details of the website
  • Shareholding pattern of the LLP or the company
  • Net worth certificate of the LLP or the company
  • Audited Financial statement of the last three years if you’re an old company or LLP or of only the last year if you’re a new company or LLP.
  • Details of the IT infrastructure you’ve employed in your company.
  • Details of the organizational structure of the company.
  • Access details of the backend of the company website.
  • Pay the requisite application fee so that the application can go into processing by the Insurance Regulatory and development Authority of India.

Wait for the examination process: Wait a while as the government department examines your application.

Get the Insurance Web Aggregator License: It’s issued in the form of FORM E and its properly known as certificate of registration of insurance web aggregator. 


You opting to become an Insurance Web aggregator can be a boon to many who seek the right insurance policies. It can also be a boon to you because the market is still developing and you have the chance to take strides and get a running start. Become an IRDA web aggregator. If you need any assistance, contact our business license experts.


Creator of I AM UR TEACHER, Engineer by Degree. 4+ Experience in Digital Marketing, Travel & Gym Lover.

Leave a Reply

Your email address will not be published.