{"id":6525,"date":"2020-04-10T20:48:06","date_gmt":"2020-04-10T15:18:06","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=6525"},"modified":"2022-11-16T13:56:52","modified_gmt":"2022-11-16T08:26:52","slug":"know-about-insurance-web-aggregator-license-benefits-eligibility-and-registration-process","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/know-about-insurance-web-aggregator-license-benefits-eligibility-and-registration-process\/","title":{"rendered":"Know about Insurance Web Aggregator License; Benefits, Eligibility and Registration Process"},"content":{"rendered":"\n<p class=\"has-drop-cap\">A web aggregator is a company, registered under the <strong><em>companies act<\/em><\/strong><sup><a class=\"text-primary\" href=\"https:\/\/en.wikipedia.org\/wiki\/Companies_Act\"><strong>[1]<\/strong><\/a><\/sup>, approved by IRDA [Insurance Regulatory and Development Authority]. IRDA maintains and owns the website, provides information with respect to insurance products of different insurance provider companies. Insurance Web Aggregator works as an online platform for providing information related to financial and insurance products. Consumers can seek quotations from different insurers only on one platform.<\/p>\n\n\n\n<p>With this blog, we will discuss Insurance Web Aggregator, how to get an <a href=\"https:\/\/corpbiz.io\/insurance-web-aggregator-license\"><strong>Insurance Web Aggregator license<\/strong><\/a>, and it&#8217;s eligibility, and other benefits. <\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Page Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/corpbiz.io\/learning\/know-about-insurance-web-aggregator-license-benefits-eligibility-and-registration-process\/#What_is_an_Insurance_Web_Aggregator\" >What is an Insurance Web Aggregator?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/corpbiz.io\/learning\/know-about-insurance-web-aggregator-license-benefits-eligibility-and-registration-process\/#Who_is_the_insurer\" >Who is the insurer?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/corpbiz.io\/learning\/know-about-insurance-web-aggregator-license-benefits-eligibility-and-registration-process\/#What_are_the_benefits_of_using_Web_Aggregators\" >What are the benefits of using Web Aggregators?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/corpbiz.io\/learning\/know-about-insurance-web-aggregator-license-benefits-eligibility-and-registration-process\/#What_is_an_eligibility_criterion_for_registering_as_an_Insurance_Web_Aggregator\" >What is an eligibility criterion for registering as an Insurance\nWeb Aggregator?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/corpbiz.io\/learning\/know-about-insurance-web-aggregator-license-benefits-eligibility-and-registration-process\/#What_are_the_Eligibility_criteria_for_the_employees_of_Web_Aggregator\" >What are the Eligibility criteria for the employees of Web Aggregator?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/corpbiz.io\/learning\/know-about-insurance-web-aggregator-license-benefits-eligibility-and-registration-process\/#_What_is_the_Annual_license_fee_for_Web_Aggregator\" >&nbsp;&nbsp;What is the Annual license fee\nfor Web Aggregator?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/corpbiz.io\/learning\/know-about-insurance-web-aggregator-license-benefits-eligibility-and-registration-process\/#What_is_the_total_capital_requirement\" >What is the total\ncapital requirement?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/corpbiz.io\/learning\/know-about-insurance-web-aggregator-license-benefits-eligibility-and-registration-process\/#What_can_be_the_ground_of_rejection_of_an_application\" >What can be\nthe ground of rejection of an application?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/corpbiz.io\/learning\/know-about-insurance-web-aggregator-license-benefits-eligibility-and-registration-process\/#What_is_the_procedure_for_the_grant_of_certificate_of_registration\" >What is the procedure for the grant of certificate of\nregistration?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/corpbiz.io\/learning\/know-about-insurance-web-aggregator-license-benefits-eligibility-and-registration-process\/#_What_is_the_validity_of_the_Insurance_Web_Aggregator_license\" >&nbsp;What is the\nvalidity of the Insurance\nWeb Aggregator license?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/corpbiz.io\/learning\/know-about-insurance-web-aggregator-license-benefits-eligibility-and-registration-process\/#What_are_the_duties_and_functions_of_Web_aggregator\" >What are the duties and functions of Web aggregator?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/corpbiz.io\/learning\/know-about-insurance-web-aggregator-license-benefits-eligibility-and-registration-process\/#What_should_be_the_display_of_product_comparison_on_Web_Aggregators_website\" >What should be the\ndisplay of product comparison on Web Aggregator&#8217;s website?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/corpbiz.io\/learning\/know-about-insurance-web-aggregator-license-benefits-eligibility-and-registration-process\/#Take_away\" >Take away<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_an_Insurance_Web_Aggregator\"><\/span>What is an Insurance Web Aggregator?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"shadow1\"><em>According to Section 2 (n) Insurance act, 1938\n\u201ca web aggregator is a Company registered under Companies Act, 1956 (1 of\n1956), approved by the Authority under this regulation, which maintains \/owns a\nweb site and provides figures pertaining to insurance products and\nprice\/features collation of products of different Insurers and provieds leads\nto an Insurer. <\/em><\/div>\n\n\n\n<p>Web Aggregator\nis an online insurance platform; activities are governed by the <strong><em>Insurance\nRegulatory and Development Authority of India (Insurance Web Aggregator)\nRegulations, 2017<\/em><\/strong>.&nbsp; Web Aggregator\nworks as an intermediary, maintaining and supervising the website along with\ncomparing the price and features of different insurance products being offered\nby the different insurers available in the market. &nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Who_is_the_insurer\"><\/span>Who is the insurer?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong><em>According to Section 2 (9) of the insurance act, 1938 insurer is<\/em><\/strong>:  <\/p>\n\n\n\n<ul><li>Individual or a corporate body incorporated under the law governing insurance business, which <\/li><\/ul>\n\n\n\n<ol><li>carries on that business in&nbsp;India, or<\/li><li>has his or its principal place of business or is domiciled in India,<\/li><li>with the object of obtaining insurance business, employs a representative, or maintains a place of businesses in India <\/li><\/ol>\n\n\n\n<ul><li>Any corporate body not carrying on the business of insurance,\nwhich is a body corporate incorporated under any law for the time being in\nforce in India;<\/li><li>or stands to any such body corporate in the relation of a\nsubsidiary company within the meaning of the Indian Companies Act, 1913 <\/li><li>any person who in&nbsp;India has a standing\ncontract with underwriters who are members of the Society of Lloyd&#8217;s whereby\nsuch person is authorized within the terms of such contract to issue protection\nnotes, cover notes, or other documents granting insurance cover to others on\nbehalf of the underwriters.<strong><em><\/em><\/strong><\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_are_the_benefits_of_using_Web_Aggregators\"><\/span>What are the benefits of using Web Aggregators?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" width=\"579\" height=\"466\" src=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/04\/image-29.png\" alt=\"benefits of using Web Aggregators\" class=\"wp-image-6528\" srcset=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/04\/image-29.png 579w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/04\/image-29-300x241.png 300w\" sizes=\"(max-width: 579px) 100vw, 579px\" \/><\/figure><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_an_eligibility_criterion_for_registering_as_an_Insurance_Web_Aggregator\"><\/span>What is an eligibility criterion for registering as an Insurance\nWeb Aggregator?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong><em>Minimal\nCriteria for Insurance Web Aggregator license applicant shall fulfill the\nfollowing conditions; <\/em><\/strong><\/p>\n\n\n\n<ul><li>Applicant Company shall be\nincorporated and registered under Companies Act, 1958. Company shall comply\nwith all the FDI norms as applicable for insurance sector at the time of\nsubmission of application and shall continue to comply with them during the course\nof their business as Web Aggregator ;<\/li><li>Memorandum of Association\nof company shall mention it&#8217;s main object as web aggregator;<\/li><li>Further, the applicant\nshall not be engaged in any other business other than a mention in the object\nof the company&#8217;s MOA<\/li><li>The applicant should not be\nregistered or licensed as an insurance agent, corporate agent, loss assessor,\nmicro-insurance agent, TPA, surveyor, or as an Insurance Broker under the important\nRegulations framed by the Authority.<\/li><li>The applicant should not have any referral settlements with an\nInsurer.<\/li><li>To manage company affairs, company shall appoint a designated\ndirector as principal officers for full time.<\/li><li>Education qualification of principal officer shall be as\nprescribed in Schedule V of the act.<\/li><li>Also, the principal officer shall fulfill the FIT and PROPER\ncriteria set by the Authority, as mentioned by the Authority.<\/li><li>Principal Officer shall not violate the obligation and code of\nconduct of web aggregator as specified in schedule VI and VII respectively to\nthis regulation;<\/li><li>The Authority, under its opinion, can grant an Insurance Web\nAggregator license, which will be in the interest of policyholders. <\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_are_the_Eligibility_criteria_for_the_employees_of_Web_Aggregator\"><\/span>What are the Eligibility criteria for the employees of Web Aggregator?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul><li>The employee\nof Web Aggregator Company is required to complete the fifty hours of\ntheoretical and practical training from an authority recognized institution.<\/li><li>After the\ncompletion of training, exam is conducted by the National Insurance Academy,\nPune, or by any authority, which an employee is required to pass. <\/li><li>&nbsp;&nbsp;Telecallers employed by the Web Aggregators\nto promote the business should be enrolled as the Web Aggregators employee and\nshould have completed the statutory training as prescribed by IRDA. <\/li><li>Web\nAggregators are responsible for all kinds of acts and omissions performed by it&#8217;s\ndeployed employees.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"_What_is_the_Annual_license_fee_for_Web_Aggregator\"><\/span>&nbsp;&nbsp;What is the Annual license fee\nfor Web Aggregator?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul><li>An annual\nLicense fee of Rs. 5,00O shall be paid annually by every Web Aggregator;<\/li><li>The\nfee shall be paid before the expiry of 15 days from the finalization of annual\naudited accounts of Web Aggregator or till 30<sup>th<\/sup> September.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_the_total_capital_requirement\"><\/span>What is the total\ncapital requirement?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" width=\"576\" height=\"336\" src=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/04\/image-30.png\" alt=\"total capital requirement\" class=\"wp-image-6529\" srcset=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/04\/image-30.png 576w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/04\/image-30-300x175.png 300w\" sizes=\"(max-width: 576px) 100vw, 576px\" \/><\/figure><\/div>\n\n\n\n<ul><li>In the case where an applicant is a company minimum paid-up\nshare capital should or where the applicant is an LLP, the minimum capital\nrequirement is 25,00,000\/-.<\/li><li>Further, when the applicant is a company, paid-up share capital\nhas to be issued and subscribed in the form of equity share.<\/li><li>LLP&#8217;s minimum contribution has to be bought in cash only.<\/li><li>The share issued in the form of capital for doing business of\nweb aggregation shall remain unencumbered. This means issued shares cannot be\npledged to secure any kind of credit.<\/li><\/ul>\n\n\n\n<p><strong><em>Net Worth Requirements<\/em><\/strong><\/p>\n\n\n\n<ul><li>Net worth\nprescribed for an Insurance Web Aggregator shall not at any time fall below\n100% of the minimum capital requirement.<\/li><li>Status of\nits net worth shall be reviewed by every 30<sup>th<\/sup> September and 31<sup>st<\/sup>\nMarch.<\/li><li>&nbsp;The net worth certificate shall be duly\ncertified by the Chartered Accountant and shall be submitted to the Authority\nevery year after the finalization of books of account.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_can_be_the_ground_of_rejection_of_an_application\"><\/span>What can be\nthe ground of rejection of an application?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><em>An application can be rejected due to the following grounds;<\/em><\/p>\n\n\n\n<ul><li>If the application\nhas been presented without furnishing complete information. That means\nincomplete information can lead to rejection of application;<\/li><\/ul>\n\n\n\n<ul><li>In case\nwhere an applicant fails to provide the information asked by the Authority\nwithin the given time frame of 30 days.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_the_procedure_for_the_grant_of_certificate_of_registration\"><\/span>What is the procedure for the grant of certificate of\nregistration?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul><li>An applicant\nseeking grant of Insurance Web Aggregator license shall be made\napplicable to Authority in Form as shown in Schedule I \u2013 Form A as prescribed in the act.<\/li><li>The payment\nshall be made in the form of Demand Draft or through electronic fund transfer<\/li><li>Application\nfor registration shall be accompanied by a non- refundable fee of Rs. 10,000\/-\nin favor of &#8216;Insurance Regulatory and Development Authority&#8217; payable at\nHyderabad.<\/li><li>For the\npurpose of carrying the functions\/ facilities of Outsourcing and Telemarketing,\napplication for seeking permission for the same shall be mentioned specifically\nin the application form.<\/li><li>The\napplicant seeking the grant of License as Web Aggregator shall fulfill all the\neligibility criteria as mentioned under relevant sections of the act. <\/li><li>The\napplicant seeking the grant of License as Web Aggregator will be dealt with by Authority\nas per the provisions applicable under Regulatory and Development Authority\nregulation.<\/li><li>Once\nthe applicant fulfills all the eligibility criteria and requirements asked to furnish\nby the Authority, it shall grant Insurance Web Aggregator license to the\napplicant as Web aggregator. <\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"_What_is_the_validity_of_the_Insurance_Web_Aggregator_license\"><\/span>&nbsp;What is the\nvalidity of the Insurance\nWeb Aggregator license?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>A\nlicense is issued with the validity of three years from the date of issuance\nunless the same is suspended or canceled.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_are_the_duties_and_functions_of_Web_aggregator\"><\/span>What are the duties and functions of Web aggregator?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>  Insurance Web Aggregator license shall perform the following functions and duties;<\/p>\n\n\n\n<ul><li>Web aggregator is required to display the information pertaining to the insurers, who are the parties to the agreement signed with the web aggregators;<\/li><li><strong><em>Web Aggregators shall not;<\/em><\/strong><\/li><\/ul>\n\n\n\n<ol><li>Display any information in regard to the product and services of other financial institution\/ FMCG, any other product or service in the website;<\/li><li>Display advertising of any kind, either in relation to any product or service, which can include insurance and service, other financial product and service, or any other product or service in WEB Aggregators Website;<\/li><li>&nbsp;Promote various websites or tie-ups with other approved, unapproved website lead generation, unlicensed entities, comparison of product, etc. <\/li><li>Operate the websites of other Financial, commercial or sales service or also uses social media platform for comparison of products, etc.<\/li><li>Operates any other medium for transmitting leads to and company engaged in the business of insurance except as provided under the regulation of the Insurance Act.  <\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_should_be_the_display_of_product_comparison_on_Web_Aggregators_website\"><\/span>What should be the\ndisplay of product comparison on Web Aggregator&#8217;s website?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong><em>Following should be the display <\/em><\/strong><strong><em>of product comparisons on the web\nsite:<\/em><\/strong><\/p>\n\n\n\n<ul><li>Prominently should disclose on the home page, a notice that that the client or visitor&#8217;s information can be given to insurer;<\/li><li>The product displayed on the website should be authentic and shall be based on the information shared by the insurer;<\/li><li>Web aggregators are not allowed to display ratings, ranking, advertisements or promote best seller of insurance;<\/li><li>The product can be categorized as followings ;<\/li><\/ul>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" width=\"576\" height=\"339\" src=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/04\/image-31.png\" alt=\"comparison on Web Aggregator's \" class=\"wp-image-6531\" srcset=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/04\/image-31.png 576w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/04\/image-31-300x177.png 300w\" sizes=\"(max-width: 576px) 100vw, 576px\" \/><\/figure><\/div>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" width=\"576\" height=\"339\" src=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/04\/image-32.png\" alt=\"Web Aggregator - Product categories\" class=\"wp-image-6533\" srcset=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/04\/image-32.png 576w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/04\/image-32-300x177.png 300w\" sizes=\"(max-width: 576px) 100vw, 576px\" \/><\/figure><\/div>\n\n\n\n<ul><li><strong><em>Comparison of basic product features shall be on the basis of;<\/em><\/strong><\/li><\/ul>\n\n\n\n<ol><li>Eligibility criteria;<\/li><li>Plan, Policy Term, Premium term, Min and Max SA, Age, Min &amp; Max Maturity, etc. have to be compared.<\/li><li>Inbuilt benefits, riders can be compared Premiums for different age groups can be compared.<\/li><li>Surrender benefits, Loans, etc<\/li><li>Benefits such as Survival advantages, Maturity Benefits, Death benefits, etc. are to be compared<\/li><li>Returns \u2013 6 % and 10 % s approved by IRDA to be compared<\/li><li>Any other additional figures, &nbsp;<strong><em>special product features relating to the products under comparison can be compared.<\/em><\/strong><\/li><\/ol>\n\n\n\n<ol><li>Online &nbsp;Sale;<\/li><li>Registration of Customer data or\nProposal Form;<\/li><li>Online Underwriting decision;<\/li><\/ol>\n\n\n\n<ul><li>Web\naggregators shall not Templates can be collective worked out between the Web\nAggregators and Insurers whose products are compared.<\/li><li>Product\ncomparisons that are displayed shall be up to date and reflect a correct\npicture of the products.<\/li><li>Web\naggregators shall show product information purely on the basis of the\ninformation furnished to them by insurers.<\/li><li>Web\nAggregators can use issued data for &#8220;Additional Information to Customers&#8221;\nbased on IRDA Data.<\/li><li>Web\nAggregators can merge their websites with the insurers&#8217; website for<\/li><li>carry\nany notice or sponsored content on their websites.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Take_away\"><\/span>Take away <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>We at <em><a href=\"https:\/\/corpbiz.io\/\"><strong>Corpbiz<\/strong><\/a><\/em> will help you through the end to end process for obtaining the Insurance Web Aggregator license.  <\/p>\n","protected":false},"excerpt":{"rendered":"<p>A web aggregator is a company, registered under the companies act[1], approved by IRDA [Insurance Regulatory and Development Authority]. IRDA maintains and owns the website, provides information with respect to insurance products of different insurance provider companies. Insurance Web Aggregator works as an online platform for providing information related to financial and insurance products. Consumers [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":6543,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[333],"tags":[476],"acf":{"service_id":"194"},"authorName":"Shailza Sharma","authorImageUrl":"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2019\/10\/IMG-20190927-WA0001-150x150-22.jpg","authorDescription":"Miss Shailza Sharma, BA. LLB graduate from Himachal Pradesh University. She holds an experience of 2.5 years in various Legal companies and organizations.","postViews":11307,"readingTime":6,"_links":{"self":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/6525"}],"collection":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/comments?post=6525"}],"version-history":[{"count":22,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/6525\/revisions"}],"predecessor-version":[{"id":50732,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/6525\/revisions\/50732"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media\/6543"}],"wp:attachment":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media?parent=6525"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/categories?post=6525"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/tags?post=6525"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}