Online system for registration / renewal of broking licenses

भारतीय बीमा विनियामक और विकास प्राधिकरण INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA

IRDA/INT/2016

01st Jan 2016.

Online system for registration / renewal of broking licenses

As a part of automation of various activities of IRDAI, a web-based licensing system has now been made available for licensing of insurance brokers at the following link: http://www.irdabap.org.in.

1. Submission of application for licensing of new brokers:

In order to apply for licensing of new broker, an applicant is required to register to the portal and user name and password would be generated by the system and sent to the user through email. Subsequently application can be submitted online by accessing the website: http://www.irdabap.org.in. The applications for new brokers licenses already received by the department will be processed manually and all new licenses application from 1st Jan 2016 shall be accepted ONLY through on-line mode. Step-by-step procedure for the registration of new broker has been explained in user manual, which is enclosed.

2. Submission of applications for renewal of registrations:

The list of Insurance Brokers whose renewals are expiring between 1st April 2016 to 30th September, 2016 are enclosed (Annex-A) and they shall apply their renewal application online ONLY through the above portal, using the user id / passwords already allotted to them for filing of returns. The brokers listed in Annex-A are also requested to submit the cutover data in the formats attached. It may be noted that submission of cut-over data is a pre-requisite for filing of renewal application and the same shall be mailed to brokers@irda.gov.in by 20-01-2016. There is also a provision for payment of renewal and annual fees through the above portal.

3. The user manual and video demo of the licensing process has also been made available which can be accessed on logging in to the portal.

परिश्रम भवन, तीसरा तल, बशीरबाग, हैदराबाद-500 004. भारत (9) : 91-040-2338 1100, फैक्स: 91-040-6682 3334 ई-मेल: irda@irda.gov.in वेब: www.irda.gov.in Parisharam Bhavan, 3rd Floor, Basheer Bagh, Hyderabad-500 004. India. Ph.: 91-040-2338 1100, Fax: 91-040-6682 3334 E-mail : irda@irda.gov.in Web.: www.irda.gov.in

4. A helpline system has been setup for this purpose and the queries will be attended by the team on priority basis. Brokers may also escalate the issues at the following:

*Please note that queries have to be routed through Helpline in the Module. If not resolved within a reasonable time, escalations can be made to these IDs/contact nos.

5. Class 2 and Class 3 digital signatures of the Authorized signatories shall be accepted by the Module. Brokers are required to obtain Digital Signatures from Authorized Vendors (i.e. E-Mudra, Sify, etc).

6. Brokers are advised to ensure that there are adequate manual controls and validations in order to ensure that the data submitted through the system in factually correct.

(Randeep Singh Jagpal) Sr.JD(Intermediaries)