Insurance Marketing Firm

Insurance Marketing Firm

Functions and Responsibilities of Insurance Marketing Firm Department

IRDAI (Registration of Insurance Marketing Firm) Regulations, 2015 (IMF Regulations) were notified in the Gazette on 21.01.2015. The Authority launched an online portal on 26th May, 2015 for facilitating the applicants to submit their applications through portal. 
The basic functions of the department are as follows.

What’s New


A No Objection Certificate (NOC) is a certificate issued to an IMF applicant by the Authority on request. The NOC is issued for the sole purpose of enabling the IMF applicant to apply for incorporation of the proposed IMF Firm Name (which must necessarily include the words “Insurance Marketing / IMF”) with Registrar of Companies (ROC). The NOC is valid up to six months from the date of issue.

  • Go to "New User? Register Now!" on the home page of the IMF portal and click on "Do You Need NOC? Click Here".
  • Fill in the relevant details, i.e.,
    • Name of the Proposed Company *
    • Address of the Proposed Registered Office
    • Address of Correspondence
    • Email o Details and Jurisdiction of ROC
    • PAN
  • Upload the relevant documents, i.e.,
    • Scanned copy of PAN card of proposed directors/partners
    • Scanned copy of Aadhaar of proposed directors/partners
    • Scanned copy of Address Proof of the given Address of Correspondence
  • Click on ‘Submit’.
    • *Name of the Proposed Company
      • must include the word(s) “IMF / Insurance Marketing
      • must specify if it is Pvt. Ltd., OPC, LLP, etc.
      • must not be similar to that of any Insurer Broker
      • must not be an undesirable name as defined in Companies (Incorporation) Rules.
  • Go to "New User? Register Now!" on the home page of the IMF portal and click on "Check NOC Status? Click Here”.
  • Key in the NOC application reference number and the PAN number given in the application and click on “Submit”.

The applicant shall register on the IMF portal and submit application for IMF registration within one year of incorporation of the company with ROC by following the procedure below:

  • Go to "New User? Register Now!" on the home page of the IMF portal
  • Fill in the relevant details in the ‘New User Registration’ page, i.e, Firm Name, Firm Registration Number (CIN, LLPIN, etc), PAN (Firm’s or Director’s), Email, Mobile Number
  • Select the ‘Area of Operation’ and Click on ‘Register’.
  • Go to “Registered User? Click Here!” on the home page and login using the User ID and password received on the registered email ID.
  • Complete the Form A by filling in all the relevant fields and uploading the relevant documents
  • The applicant has to
    • Remit the non-refundable application fees of five thousand rupees. The payment must come from the bank account of the IMF.
    • Submit a declaration from the principal officer/directors/managing partners satisfying the “Fit & Proper” criteria in the format prescribed in the IMF Regulations
    • Submit a copy of the Insurance Marketing Firm Exam pass Certificate of the Principal Officer and the ISPs proposed to be engaged by the Insurance Marketing Firm
    • Submit a copy of the Qualification Certificates and Experience Certificates of the PO
    • Submit a copy of the Qualification Certificates of the ISP and his/her Address Proof within the state in which the IMF is proposed to be registered.
    • Submit an undertaking by the Principal Officer in the format prescribed by the Authority that the IMF shall ensure compliance with the Regulations
    • Submit a Net Worth Certificate from a Chartered Accountant that the Net Worth of the proposed IMF is not less than the limit prescribed by the IRDAI (Registration of Insurance Marketing Firm) Regulations, 2015 and amendments thereof.
    • Submit the Bank Account statement of the IMF in support of the Net Worth Certificate
    • Submit a copy of MoA and AoA in case of a company or the LLP Agreement in case of an LLP
    • Submit a Three Year business plan document with projected volume of activities and income
    • Submit an Organization Chart showing functional responsibilities
    • Submit details of Infrastructure like Office Space (Rent Agreement/Sale Deed), Equipment and Manpower (Photographs)
    • Submit consent letter from Insurance Companies with which the applicant proposes to work (at least one consent letter is necessary)
  • Click on “Submit” after completing the application.

No. The Authority may opt to conduct a Telephonic Interview instead of a Personal Presentation.