Corporate Agent Registration IRDAI: Complete Guide for 2026 | AB & Associates
India's insurance sector is growing faster than ever, and businesses across banking, NBFC, fintech, and trading sectors are looking for new ways to participate in this expansion. One of the most reliable and profitable routes is becoming an IRDAI-registered corporate agent. At AB & Associates, we regularly guide companies through the entire Corporate Agent Registration IRDAI process, and this guide breaks down everything you need to know before you begin.
Whether you run a private limited company, an LLP, a cooperative society, an NBFC, or a regional rural bank, this article explains who is eligible, what documents are required, how much it costs, and how the process actually works in 2026.
What Is a Corporate Agent Under IRDAI?
A corporate agent is a company, LLP, cooperative society, bank, NBFC, or other approved institution authorized by the Insurance Regulatory and Development Authority of India (IRDAI) to market, sell, and service insurance products on behalf of insurers. Unlike individual insurance agents who work alone, corporate agents operate as organized business entities and employ trained personnel known as Specified Persons (SPs) to handle customer interactions and close sales.
A corporate insurance agent represents the insurance company, which is different from an insurance broker who represents the client. This distinction matters because it shapes the agent's legal obligations, commission structure, and the relationship it can build with insurers.
Corporate agents can sell life, health, and general insurance products and earn remuneration through partnerships with the insurers they tie up with. Banks, NBFCs, fintech companies, trading houses, and registered firms have all adopted this model as a structured way to enter the insurance distribution business.
Why Corporate Agent Registration Matters
Registration with IRDAI has been mandatory since the IRDAI (Registration of Corporate Agents) Regulations, 2015, came into force from 1st April 2016. Operating as a corporate agent without this registration is not just risky, it is illegal. Once registered, the entity receives a Certificate of Registration (CoR), which legally authorizes it to function as an insurance intermediary.
Beyond legal compliance, registration unlocks real business value. It allows a company to diversify its revenue streams by earning commissions, build a structured insurance distribution arm, and offer customers a wider range of financial products under one roof. For banks and NBFCs already dealing in financial services, adding insurance distribution is a natural extension that strengthens customer relationships and creates an additional income source.
Who Can Apply for Corporate Agent Registration?
IRDAI permits a fairly wide range of entities to apply, provided they meet eligibility and documentation requirements. Eligible applicants typically include:
Private and public limited companies
Limited Liability Partnerships (LLPs)
Banks, including regional rural banks
Non-Banking Financial Companies (NBFCs)
Micro Finance Institutions
Any other entity specifically approved by IRDAI
The Memorandum of Objects or constitutional documents of the applying entity must clearly mention that the company is permitted to sell insurance products. If this clause is missing, the application will not move forward, so it's worth checking your MOA or constitutional documents early in the process.
There is also an important conflict-of-interest rule to keep in mind. The applicant must not be engaged in any other insurance-related business, such as an insurance marketing firm or an insurance broking firm; if such a conflict exists, the application is assessed on its individual merits rather than rejected outright.
For regulated entities like banks and NBFCs, there's an additional preliminary step. Before approaching IRDAI, such entities should first obtain a No Objection Certificate from their primary regulator, such as the RBI, SEBI, or PFRDA. Skipping this step is one of the most common reasons applications get delayed.
Net Worth and Financial Requirements
Financial soundness is a core part of IRDAI's evaluation. Corporate agents are required to maintain a minimum share capital and net worth of ₹50 lakhs. This requirement ensures that only financially stable entities enter the insurance distribution space, which ultimately protects policyholders and maintains trust in the system.
Along with net worth, applicants need to demonstrate operational readiness. A Net Worth Certificate validating financial standing, along with audited financial statements for the past two years, must be submitted as part of the documentation.
Categories of Corporate Agent Registration
IRDAI doesn't issue a single, one-size-fits-all license. Depending on the type of insurance products a company wants to distribute, it can apply under one of several categories:
Corporate Agent (Life): Permits the entity to market and service life insurance products. A Corporate Agent registered under the Life category may tie up with up to three life insurers.
Corporate Agent (General): Covers general insurance products such as motor, fire, marine, and travel insurance. This category, too, allows arrangements with a maximum of three insurers.
Corporate Agent (Health): Focused exclusively on health insurance products, with the same limit of three insurer tie-ups.
Corporate Agent (Composite): A Composite Corporate Agent may tie up with three insurers in each of the life, general, and health insurance categories, offering the broadest possible product range.
Choosing the right category depends on your business model. A bank with an existing loan book, for instance, might find a Composite license more valuable since it can cross-sell life, health, and general insurance to the same customer base. A smaller NBFC focused purely on vehicle financing might only need a General Insurance corporate agent license.
Step-by-Step Corporate Agent Registration Process
The registration journey under IRDAI follows a fairly structured path, though it does require attention to detail at every stage.
Step 1: Gather and Prepare Documentation Before anything else, the applicant needs to collect a core set of documents. This includes incorporation certificates, board resolutions, audited financials, and details of the proposed Principal Officer. Other key documents include the Certificate of Incorporation, Net Worth Certificate, and the Memorandum and Articles of Association.
Step 2: Appoint a Principal Officer Every corporate agent must designate a Principal Officer (PO) who will oversee insurance operations. This individual must be qualified, trained, and certified as per IRDAI guidelines before the application can proceed. The Principal Officer is typically a director, partner, officer, or employee of the applicant who supervises the corporate agent's activities.
Step 3: Register on the Corporate Agency Portal The applicant must access the Corporate Agency Portal to obtain login credentials, which are required before any documents can be uploaded.
Step 4: Submit Form A With Supporting Documents Once portal access is granted, the applicant fills out Form A and uploads documents including the company profile, the Principal Officer's training and educational credentials, a board-approved policy on soliciting insurance products, and evidence of infrastructure such as lease agreements and staffing details.
It's worth noting that certain large entities get a simplified path here. Listed companies, banks, and NBFCs are exempted from submitting detailed infrastructure evidence and only need to furnish a generic undertaking signed by authorized signatories. Smaller or newly incorporated entities formed specifically for insurance intermediation, however, must provide the full supporting documentation.
Step 5: Fit and Proper Criteria Verification IRDAI evaluates whether the applicant satisfies the 'fit and proper' requirements, which include checks on integrity and overall financial soundness. This is essentially a background and credibility check to ensure the entity is suitable to handle policyholder interests responsibly.
Step 6: Pay the Prescribed Fees After document submission, the applicant proceeds to fee payment, covering the non-refundable application fee and registration charges (detailed in the fees section below).
Step 7: IRDAI Review and Grant of Certificate IRDAI examines the application against its regulatory norms, and if the application and paperwork are clean and error-free, the authority grants the Corporate Agent Certificate of Registration, officially converting the applicant into a registered entity. Once satisfied, IRDAI issues the certificate of registration in Form-B and informs the applicant of the specific category under which registration has been granted.
It's important to get this right the first time. If the application is found non-compliant or inaccurate, IRDAI's approval does not come through, and the applicant must wait a full year before reapplying. This is exactly why working with experienced consultants like AB & Associates can save significant time and avoid costly rejections.
Fees Involved in Corporate Agent Registration
Cost planning is an essential part of preparing for registration. Based on the current fee structure prescribed by IRDAI:
Non-Refundable Application Fee: ₹10,000
Registration Fee for issue of Certificate of Registration (CoR): ₹25,000
Principal Officer / Specified Person Certificate Fee: A separate, smaller fee applies for issuing certificates to the PO and each SP
There's also an important recent change worth highlighting. A corporate agent must pay interim annual fees of ₹8,000 plus GST for either fresh registration or what was previously called renewal, where the timeline falls between 5 February 2026 and 30 June 2026.
This leads to one of the most significant regulatory updates corporate agents should know about in 2026.
Validity: The Shift to Perpetual Registration
For years, corporate agent licenses came with a three-year validity period, after which renewal was mandatory along with associated fees. That has now changed. The corporate agency license now offers perpetual validity, meaning it remains valid for as long as the agency stays active, following the enactment of the Sabka Bima Sabki Raksha Act, 2025, effective from 5 February 2026.
In practical terms, this means corporate agents no longer need to go through a formal renewal process every three years. However, the prescribed annual fee must still be paid to maintain operational status, and the license stays active as long as the entity exists and complies with applicable regulations.
This is a meaningful simplification for businesses. It reduces the administrative burden of periodic renewal applications while still keeping IRDAI's oversight intact through annual fee payments and ongoing compliance checks.
Documents Required for Registration
While specific requirements can vary slightly based on entity type, a typical IRDAI corporate agent application includes:
Certificate of Incorporation of the applicant entity
Memorandum of Association and Articles of Association
Net Worth Certificate certified by a Chartered Accountant
Audited financial statements for the preceding two years
Board resolution authorizing the corporate agency business
Board-approved policy on soliciting and servicing insurance products
Profile and credentials of the proposed Principal Officer
Organizational chart showing departmental responsibilities
Infrastructure evidence (office space, equipment, manpower) where applicable
Having these documents ready and properly formatted before starting the online application significantly speeds up the process and reduces the chances of queries from IRDAI.
Role of the Principal Officer and Specified Persons
Two roles sit at the center of every corporate agent's compliance structure.
The Principal Officer (PO) is responsible for overall supervision of the corporate agent's insurance-related activities, ensuring transparency and harmony between operations and regulatory expectations.
Specified Persons (SPs) are the individuals who directly interact with customers, solicit new business, and close sales. A Specified Person is any individual authorized to obtain and manage insurance business on behalf of the corporate agent after completing the stipulated training and certification.
Both roles require formal certification before they can begin work. Training for Principal Officers and Specified Persons is conducted by the Insurance Institute of India, while the corresponding examinations are administered by NSE-IT. No individual can solicit insurance business on behalf of the corporate agent until this certification is complete, so building training timelines into your launch plan is essential.
Post-Registration Compliance Obligations
Getting the Certificate of Registration is not the finish line, it's the start of an ongoing compliance relationship with IRDAI. Once registered, corporate agents must fulfill several continuing obligations.
Maintain Statutory Registers: Every corporate agent must maintain registers capturing client names, contact addresses, mobile numbers, policy types, policy numbers, premium amounts, dates of commencement, plan and term details, sum assured, and renewal information.
Disclose Insurer Tie-Ups: Arrangements entered into with insurers must be disclosed to the Authority within 30 days of entering into such arrangements, and each arrangement must run for a minimum period of one year.
Submit Periodic Returns: Corporate agents must submit half-yearly and annual returns to keep IRDAI updated on business operations and ensure ongoing compliance.
Stay Ready for Inspection: IRDAI has the power to inspect the records and performance of a corporate agent at any time, and if deficiencies are found, the Authority may initiate appropriate disciplinary action.
Verify Specified Person Certification: Agents should maintain a checklist confirming that every individual engaged in insurance solicitation holds the required Specified Person certification.
Records for Investigation and Inspection: Corporate agents must also comply with IRDAI's regulations on minimum information required for investigation and inspection, ensuring records are organized and readily retrievable when requested.
Falling behind on any of these obligations can expose the business to penalties or, in serious cases, cancellation of registration. This is why many companies prefer to set up a dedicated compliance calendar right from day one.
Transfer of Specified Person Certificates
There may be situations where a Specified Person wants to move from one corporate agent to another. IRDAI has a defined process for this. Any Specified Person wishing to transfer their certificate to a different corporate agent must first obtain a No Objection Certificate from the transferor corporate agent, and if the transferor fails to issue this NOC within 30 days of the application, it is deemed to be issued automatically. This provision prevents an SP from being held hostage by a previous employer's refusal to respond.
Common Challenges Businesses Face During Registration
Through our work at AB & Associates, we've seen the same handful of issues trip up applicants again and again.
Many companies underestimate how strictly IRDAI checks the Memorandum of Association for the specific clause permitting insurance product sales. If it's missing or worded ambiguously, the application stalls. Others struggle with the net worth certification, particularly newer entities that haven't yet built up the required ₹50 lakh threshold. There's also frequent confusion around the NOC requirement for regulated entities like banks and NBFCs, since this step needs to happen with the primary regulator before IRDAI is even approached.
Incomplete board-approved policies are another recurring problem. IRDAI expects this document to genuinely address how the company will solicit and service insurance products, not just a generic compliance statement. A vague or templated policy often results in a query or rejection.
How AB & Associates Can Help
Navigating Corporate Agent Registration IRDAI requirements involves coordinating legal documentation, financial certification, regulatory liaison, and operational planning, often all at the same time. At AB & Associates, we work closely with businesses across banking, NBFC, fintech, and trading sectors to manage this process end-to-end.
Our approach typically includes reviewing your constitutional documents to confirm insurance-related clauses are properly drafted, preparing and vetting the complete documentation set, coordinating Principal Officer and Specified Person training and certification, structuring the board-approved policy to meet IRDAI's expectations, and managing the application through the Corporate Agency Portal until the Certificate of Registration is issued.
We also support clients after registration with ongoing compliance management, including statutory registers, periodic return filings, and insurer tie-up disclosures, so the business stays in good standing well beyond the initial approval.
Becoming an IRDAI-registered corporate agent opens a genuine, regulated pathway into India's expanding insurance distribution market. With the recent shift toward perpetual registration validity, the long-term compliance burden has eased considerably, but the upfront registration process still demands careful preparation, accurate documentation, and a clear understanding of IRDAI's expectations.
If your business is considering this route, getting expert guidance early can mean the difference between a smooth approval and a year-long delay due to a rejected application. AB & Associates has helped numerous businesses successfully complete their Corporate Agent Registration IRDAI journey, and we're ready to do the same for you.
Get in touch with AB & Associates today to start your Corporate Agent Registration IRDAI process with expert guidance at every step.
