Reasons for Rejecting Insurance Web Aggregator License Application

web aggregator license

Insurance Web aggregator License or IRDA web aggregator license is the permission to establish an insurance portal used for the following purposes:

  • Displaying the insurance policies of insurance companies.
  • Letting the visitors view these policies and read the terms and conditions of these policies.
  • Allowing the visitors to compare between these policies.
  • Providing these visitors with a way to buy the insurance policy of their choice.

In simple terms, an IRDA web aggregator license allows you to start a website that can act as an insurance broker. As a web aggregator of insurance policies:

  • You should only present true policies to the visitors of the website.
  • You shouldn’t promote any policy of any particular insurance product.
  • You shouldn’t persuade the visitors of your website and nudge them towards buying a particular insurance policy.

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The restrictions mentioned above are nothing compared to the reasons for rejection of Insurance web aggregator license application. And in this blog, we are going to discuss about them:

Incomplete Application

If you’ve not completely filled your application form but still have submitted it, the IRDA will reject it. However, it won’t do it right away. In fact, IRDA will send you a notification – asking you to provide complete information within the next thirty days.

If you don’t heed to the notification and do nothing about your application, the Insurance Regulatory Development Authority of India would have no choice but to reject your application.

Wrong Information Present in The Application

The details that you have to enter in the web aggregator license application are often confusing. In case that confusion leads you to input the wrong details, IRDA might reject it. However, similarly as before, it will notify you with the order to correct your mistakes within the next 30 days.

False Claims Found Within The Application

The eligibility criteria to obtain the insurance web aggregator license lists one particular criterion that states:

No employee, director or members of the Insurance web aggregator company should have criminal case filed against them either in the Department of Enforcement or the Department of Revenue Intelligence.

If it’s found in the IRDA records (which guess what, they have access to) that one or more of your employees have a criminal history, your application will be rejected.

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Not Providing The Correct Documents

All of the documents needed for web aggregator license are important, and we do mean all of them. Often people tend to discuss net worth certificate as some of its information can be extrapolated from the balance sheets (according to their opinion). Don’t do that. An audited net worth certificate is the first thing that the IRDA sees before assessing your application. Thus, always provide complete documents when you’re filing the application.


There are many reasons IRDA might choose to reject your application. Submitting an incomplete application, providing false details and not providing all the documents are the top three among them. To deal with the second reason, you need to show integrity. And as for the first and the third, you need the help of an IRDA consultant. How can be help? Contact us and find out.

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