Insurance Marketing Firm Registration in India| IRDAI| Corpbiz

#insurancemarketingfirm #imfregulations #corpbiz
Insurance marketing firms are business entities licensed by the IRDAI in India to procure or solicit insurance products and provide insurance marketing services.
Key Features of IMFs:.
1- IMFs provide a platform for entrepreneurs to generate better income and create wealth through the distribution of insurance and financial products.
2- They offer the opportunity to start and run one's own professional setup.
3- Insurance marketing firms can solicit insurance products, provide insurance services, and distribute financial products regulated by other financial sector authorities.
4- Insurance marketing firms are authorized to operate across India, providing a broad geographical reach.
5- Promoters of existing brokerage firms can set up IMFs.
Registration Process:
1- NOC from IRDA - Note NOC Valid for Six months only
2- Company registration or OPC Or LLP Registration
3- Capital Deposit in Bank Account 5 lac or 10 lacs as per category
4- Need to secure license within one year from company formation
To learn more, watch the complete video.
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