The web aggregator is the Insurance Intermediary keeping up a site which gives interface to the Insurance possibilities for value correlation and data of products of various insurers and other related issues. The Insurance Web Aggregator License is issued by the IRDAI.
The functions of the Web Aggregators are administered by Insurance Regulatory and Development Authority of India (Insurance Web Aggregators) Regulations, 2017.
The individual working under the web aggregator or insurance or a Tele-advertiser with the end goal of insurance sales and acquisition through Telemarketing and Distance Marketing mode and who has experienced preparing and breezed through the examination as determined by the IRDAI;
It alludes to the procedure of the offer of insurance items without the physical presence of the client, and the procedure is cultivated through phone or Short Messaging Service (SMS) or email or other Internet or web administrations;
Under these guidelines, the KMP implies Chief Executive Officer (CEO), Chief Operating Officer(COO), Chief Marketing Officer (CMO), Chief Financial Officer (CFO), Head - Technical, Head – IT;
It talks about the data identifying with an individual who has accessed the site of an Insurance Web Aggregator and has presented certain contact data at getting data on costs or features or benefits of different insurance items;
In this process, the registered insurance web aggregator implements the software for activities like recording, filtering, validating, grading, distribution, follow up and and conclusion of leads from the enquiries got on the site of the Insurance Web Aggregator;
He/She is the individual liable for the general working of the web aggregator and might be a Director/Shareholder/Promoter and so on.
The protection web aggregator, holding a substantial certificate of registration, will convey at least one of the accompanying exercises:
The application looking for the grant of registration as Insurance web aggregators will be dismissed by the Authority on the accompanying grounds: