Insurance web aggregator registration requires exclusive operations, regulatory compliance, customer grievance redressal, recordkeeping, and prohibition of multi-level marketing. Registration or renewal of registration for an Insurance Web Aggregator is conditional on exclusive conduct of the registered business, compliance with ... Summary
International Financial Services Centres Authority Act, 2019
Insurance web aggregator registration requires exclusive operations, regulatory compliance, customer grievance redressal, recordkeeping, and prohibition of multi-level marketing.
Registration or renewal of registration for an Insurance Web Aggregator is conditional on exclusive conduct of the registered business, compliance with applicable law, Know Your Customer and Anti-Money Laundering guidelines, and the prescribed Code of Conduct. The aggregator must maintain required records, promptly disclose false, misleading, or materially changed information, redress policyholder grievances within the specified period, avoid multi-level marketing, and maintain policy-wise and authorised-verifier-wise tagged records accessible to the Authority.
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