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12th May 2016, 03:23 PM
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Join Date: Aug 2012
Re: Corporate Agency Guidelines IRDA

Hey as Corporate entities represent an insurance company and sell its policies.

Corporate Agency should
Possesses the qualifications as specified under Regulation 4;
Possesses the practical training as specified under Regulation 5;
Has passed the examination as specified under Regulation 6;
Has Furnished an application complete in all respects;
Has the requisite knowledge to solicit and procure insurance business; and
Is capable of providing the necessary service to the policyholders;

Corporate Agency Guidelines
Every Licensed Corporate Agent shall abide by the code of conduct specified below:
Every corporate agent shall :

Be responsible for all acts of omission and commission of its corporate insurance executive and every specified person;

Ensure that the corporate insurance executive and all specified persons are properly trained, skilled and knowledgeable in the insurance products they market;

Ensure that the corporate insurance executive and the specified person do not make to the prospect any misrepresentation on policy benefits and returns available under the policy;

Ensure that no prospect is forced to buy an insurance product;

Give adequate pre-sales and post-sales advice to the insured in respect of the insurance product;

Extend all possible help and co-operation to an insured in completion of all formalities and documentation in the event of a claim;

Give due publicity to the fact that the corporate agent does not underwrite the risk or act as an insurer;

Enter into service level agreements with the insurer in which the duties and responsibilities of both are defined


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