How to Start an Insurance Marketing Firm in India? Complete Registration Guide
What Is an Insurance Marketing Firm? An Insurance Marketing Firm ( IMF ) is an entity registered with the Insurance Regulatory and Development Authority of India (IRDAI) to undertake permitted insurance marketing, distribution and servicing activities. In simple words, an Insurance Marketing Firm provides a platform through which customers can access different insurance products and certain other financial products through authorised and qualified professionals. Unlike an individual insurance agent, an Insurance Marketing Firm can operate through an organised business structure and engage Insurance Sales Persons (ISPs) to market and procure permitted insurance products. The registration framework is governed by the IRDAI (Registration of Insurance Marketing Firm) Regulations, 2015, as amended from time to time. Why Is Insurance Marketing Firm Registration Important? India's insurance industry offers opportunities for entrepreneurs, financial consultants and businesses. However, ins...