Why Insurance Web aggregator License should be the only type of insurance license you should need

Insurance businesses are booming. As the world has grown more uncertain, more people are seeking certain security for their health, wealth and family. It has had an unintended impact on insurance business domain that has suddenly seen a resurgence. However, there is a big issue.

People are desperate. And in their desperation, they are getting trapped by brokers that can’t provide them the services that they need. Thankfully, there is a solution – the insurance web aggregator.

An insurance web aggregator, unlike the traditional insurance broker, doesn’t involve people. There is no one convincing people to buy one insurance policy on the other.

Everything from choosing the insurance policies to deciding the beginning terms to buying the policy becomes the responsibility of the customer. Insurance businesses have realized that and that’s one of the reasons they are seeking the insurance web aggregator license. and you should too.

Let this blog convince  you of the rest.

Insurance web aggregator license is the future

People are relying on others less and less. Access to internet have made them knowledgeable,  and access to e commerce portal have made to capable of making the right choices.

Insurance web aggregator, thus, can also be called an insurance e-commerce platform. Though not a true ecommerce platform – the insurance self network still has the right to be only one to be called that – an insurance web aggregator does provide people with exactly what they need – an insurance buying experience without pesky brokers getting in the way.

Insurance web aggregator involves many insurance companies

If you start an insurance company, your services will be limited by the expertise that you possess. You can be the best insurance policy provider in this world but your services will still be limited as per the terms of insurance company license.  On the other hand, when you have the insurance web aggregator license in India, you become an intermediary.

Acting as a communication medium between insurers and customers, you become an entity that can get in touch with not one but many insurance companies. As a result, the potential of profits and the growth of your business skyrockets.

Before applying for the license, you need to apply for the training

Any business, to be successful, has to have a principal officer who knows how to run it. Same goes for IRDA web aggregator. An insurance web aggregator aspirant has to go through proper training given by the IRDA institutes before he or she can apply for the business permit for it.

After the training complete, that aspirant has to give a certification exam. Clearing the exam is a deciding factor in whether or not the aspirant is eligible to apply for the license.

However, being trained is only the only eligibility criteria to setup a web aggregator.

Trust factor of the people

Gone are the days when people just wanted someone else to provide them all the services. With a lot of knowledge accessible online, people are in love with DIY ideology.

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“Do it Yourself” – is the primary theme of an insurance web aggregator website. From choosing the insurance policies, comparing between them, customizing their choice as per their financial capabilities to buying that one insurance policy that suits their requirement , people have control over everything. And when they have complete control, they have complete trust over your portal.

Conclusion

Insurance web aggregator is the future of insurance policies. In this age of social distancing, people can only bear being apart from each other if they have more options. And an insurance web aggregator, provides them with not one, but insurance policies of many insurance companies.

In order to setup an Insurance Web aggregator in India, you need to obtain the certification from the IRDA. The process, although straightforward, entails a lot of nuances that are beyond the scope of this blog. Thus, to know more about the process, reach out to our IRDA web aggregator consultants. We can assist you meet your web aggregator needs.

It enhances the trust factor of this particular insurance business. And that’s why, an insurance web aggregator license should be the only insurance license you should consider investing in.

Why insurance web aggregator license should be the only type of insurance license you should need? This blog details the reasons you should choose to become insurance web aggregator in India.

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