Corporate Agent
A plain-English definition from the DeployIT insurance technology glossary.
In short: An IRDAI-registered entity (often a bank or NBFC) licensed to distribute insurance for up to nine insurers per line of business. Corporate agents must appoint Specified Persons and follow suitability and disclosure norms.
Related terms
- Specified Person (SP)
- The certified employee of a corporate agent who is authorized to solicit insurance.
- Suitability Assessment
- The mandated check that a recommended insurance product matches the customer's needs and financial situation, with the assessment recorded.
- Bancassurance
- The distribution of insurance products through banks.
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