An Insurance Company License refers to a fundamental legal permit issued by the IRDAI within the purview of the Insurance Act, 1938. The license enables the business to pursue insurance-related activities in India, including promoting and selling different insurance products belonging to life, general, or health insurance segments.
The IRDAI prohibits insurance-related activities (collecting premiums or selling insurance products) without this license. It ensures that only financially sound and qualified entities operate in this industry, thereby promoting transparency and consumer trust.
Obtaining an Insurance Company License is not as easy as securing the usual business licenses. The complex paperwork and a complex maze of legal requirements make this license compliance-intensive. That’s where Adviso steps in. Here’s what makes Adviso the most sought-after partner for such licenses:
Industry-best team comprising seasoned experts and subject-matter professionals specialized in licensing, IRDAI norms, and paperwork.
Comprehensive support from start to finish
Accurate documents drafted by a dedicated department
Compliant approach to streamline the process and minimize delays.