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    Corporate Agents: Lrgi Group Presentation

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    Anjali Allure
    This document provides information about corporate agents in India. It discusses that corporate agents represent insurance companies and sell their policies to existing customers. They can have arrangements with up to 3 life, general, or health insurers. To be eligible, individuals must have a class 12 certificate, complete 50 hours of training, and obtain a valid certificate. The document outlines the procedure for obtaining a corporate agency license, including paying a fee. It also discusses renewing the license and the responsibilities of corporate agents.

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    Corporate Agents: Lrgi Group Presentation

    Uploaded by

    Anjali Allure
    26 views10 pages
    This document provides information about corporate agents in India. It discusses that corporate agents represent insurance companies and sell their policies to existing customers. They can have arrangements with up to 3 life, general, or health insurers. To be eligible, individuals must have a class 12 certificate, complete 50 hours of training, and obtain a valid certificate. The document outlines the procedure for obtaining a corporate agency license, including paying a fee. It also discusses renewing the license and the responsibilities of corporate agents.

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    This document provides information about corporate agents in India. It discusses that corporate agents represent insurance companies and sell their policies to existing customers. They can have arrangements with up to 3 life, general, or health insurers. To be eligible, individuals must have a class 12 certificate, complete 50 hours of training, and obtain a valid certificate. The document outlines the procedure for obtaining a corporate agency license, including paying a fee. It also discusses renewing the license and the responsibilities of corporate agents.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    26 views10 pages

    Corporate Agents: Lrgi Group Presentation

    Uploaded by

    Anjali Allure
    This document provides information about corporate agents in India. It discusses that corporate agents represent insurance companies and sell their policies to existing customers. They can have arrangements with up to 3 life, general, or health insurers. To be eligible, individuals must have a class 12 certificate, complete 50 hours of training, and obtain a valid certificate. The document outlines the procedure for obtaining a corporate agency license, including paying a fee. It also discusses renewing the license and the responsibilities of corporate agents.

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    CORPORATE AGENTS

    LRGI GROUP PRESENTATION

    PRESENTED BY –
    Anjali Seth 202273
    Kushagra Sharma 202274
    Srishti Sharma 202275
    CORPORATE AGENTS

    • Corporate entities represent an


    insurance company and sell its
    policies.
    • Usually they are engaged in a
    particular business and sell insurance
    policies to their existing customers
    based on the situation.
    • For example, a travel agent may
    offer you a travel insurance policy or
    a vehicle dealer a motor insurance
    policy.
    SCOPE OF CORPORATE AGENT

    Can have arrangement with only

    3 in case of life insurance,

    3 in case of general insurance,

    3 in case of health insurance.

    Can have arrangement with composite


    insurance provider for 3 years.
    ELIGIBILITY CRITERIA

    Specialised
    Valid person may
    Seventy Five
    Fifty Hours of Certificate for continue to
    Class 12 or hours of
    Training a period of 3 work with the
    Equivalent Training from
    (Specialised years from corporate
    Examination approved
    category) Approved agent licensed
    institution.
    institution. under IRDA
    ACT (2015)
    CORPORATE AGENCY LICENSE

    Required for
    an
    organisation

    In case of
    vehicle Bancassurance
    Insurance

    Financial
    institution.
    Why Corporate Agent license is
    required?
    PROCEDURE OF REGISTRATION

    The applicant
    shall pay fee of Authority grants
    25,000 + taxes certificate after
    within 15 days of satisfaction.
    receipt.

    Authority informs After completion


    of 1 year of
    applicants
    regarding their license , applicant
    can apply for
    category.
    another category.
    HOW TO RENEW CORPORATE AGENCY LICENSE IN INDIA

    • Application must be made 30 days


    before the expiry.
    • In case of Expiry of a late fees of rupees
    100.
    • In case Delay in making application of
    renewal of registration late fees of 750+
    Taxes is implied.
    • Renewal would be granted in Form-C.
    They shall
    Corporate Agent Solicit and procure
    forthwith
    shall comply with Steps for Redressal reasonable
    Regulation 3 information in
    the provision of of grievances. number of
    writing to
    the Act. Insurance policy.
    Authority.
    Thank You

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