Lawcify guides you through the end-to-end process of obtaining an insurance broking licence from IRDAI.
We help you choose between direct, reinsurance or composite broker category based on your business plan.
Lawcify prepares incorporation documents, net worth proof, infrastructure and fit & proper declarations.
We submit the licence application, coordinate clarifications and support you in meeting IRDAI’s conditions.
Lawcify assists with post-licence compliances, reporting and governance framework for broker operations.
Obtain your Insurance Broking Licence from IRDAI with structured documentation and compliance support from Lawcify.
An Insurance Broking Licence authorises an entity to act as an intermediary between customers and insurers for advising, selling and servicing insurance products.
Lawcify assists in choosing broker category, preparing application sets, coordinating with IRDAI and guiding you on post-licence governance requirements.
An Insurance Broking Licence issued by the Insurance Regulatory and Development Authority of India (IRDAI) allows an entity to act as an insurance intermediary and offer insurance products across multiple categories including life, general and health insurance. Insurance brokers act on behalf of clients — helping them compare products, negotiate insurance terms, provide advisory support and ensure claims assistance.
Obtaining an IRDAI licence is a regulated and detailed process requiring organisational eligibility, approved capital structure, governance control, registered personnel and compliance framework.
Lawcify helps businesses navigate the licensing framework, documentation, compliance assessment, regulatory audits and IRDAI application process — making licensing structured and compliant.
With Lawcify, the licensing and compliance process becomes easy and aligned with long-term regulatory requirements.
IRDAI offers licensing in the following categories:
Helps individuals and businesses purchase insurance policies including life, general and health insurance.
Supports insurers in arranging reinsurance coverage and risk-sharing arrangements.
Offers both direct and reinsurance broking services — this category requires higher capital and regulatory standards.
Eligibility is based on shareholding structure, net-worth requirements, qualified personnel and infrastructure readiness.
IRDAI mandates strict regulatory compliance including:
Lawcify ensures compliance alignment before filing to avoid rejections and delays.
The documentation list may vary depending on business model and licence category.
With Lawcify, businesses receive guided support from documentation to final approval.
Lawcify specialises in regulatory licensing and compliance for insurance, finance, fintech, NBFC and regulated business models. Our approach ensures clarity, compliance and smooth execution across each step.
With Lawcify, you build a compliant insurance broking business with confidence and long-term regulatory alignment.
Key questions regarding Insurance Broking Registration, IRDAI licensing requirements and how Lawcify supports businesses in obtaining and maintaining compliance in the insurance distribution ecosystem.
An Insurance Broking Licence issued by the Insurance Regulatory and Development Authority of India (IRDAI) allows a business to act as an intermediary between insurers and customers. A licensed broker can distribute, market, negotiate and arrange insurance contracts across general, life or reinsurance categories depending on the licence type issued.
Any incorporated entity with the required capital structure, governance framework, qualified Principal Officer, trained employees and professional indemnity insurance may apply. The applicant must also meet IRDAI fit-and-proper criteria and follow mandatory infrastructure and compliance standards.
The three main licence categories are:
Documentation includes:
Minimum capital varies by licence type and is prescribed under IRDAI regulations. Funds must be maintained as per solvency and governance standards throughout the licence validity period.
The processing timeline depends on documentation accuracy, training completion, compliance review and IRDAI evaluation. On average, the process may take 6 to 12 months depending on preparedness and follow-up.
The Principal Officer must complete IRDAI-approved training programs and pass regulatory examinations to demonstrate understanding of regulatory, financial and insurance frameworks before licence approval.
Yes — every licensed insurance broker must maintain valid professional indemnity insurance to protect against operational risk, negligence claims, advisory disputes and regulatory liability.
Yes — unlike corporate agents, brokers are allowed to work with multiple insurance companies and are expected to provide unbiased recommendations based on client needs.
Annual filings, audit reports, compliance officer appointments, training renewals, grievance reporting, solvency maintenance and operational record submissions are required to keep the licence active and in good standing.
Yes — IRDAI Broking Licences must be renewed periodically by submitting renewal documents, compliance records, certification proof and updated operational details as per regulatory timelines.
Non-compliance may result in restricted business activity, heavy penalties, suspension of licence or even cancellation depending on severity and regulatory investigation outcome.
Yes — digital and online platforms offering insurance distribution services must obtain proper licensing and follow compliance guidelines before launching or scaling operations.
Lawcify provides end-to-end support for licensing, documentation, Principal Officer training, compliance frameworks, policy drafting filings and ongoing reporting. We ensure faster turnaround, accurate compliance and seamless IRDAI approval, enabling businesses to launch and operate confidently in the regulated insurance sector.
Lawcify offers expert chartered secretary services, specializing in corporate governance and compliance, ensuring businesses run smoothly and stay legally compliant.
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