Corporate Agents - Policy Holder
Corporate entities represent an insurance company and sell its policies. Usually they are engaged in a particular business and sell insurance policies to their existing customers based on the situation. For example, a travel agent may offer you a travel insurance policy or a vehicle dealer a motor insurance policy.
When a bank becomes the corporate agent of an insurance company it is referred to as a bancassurance arrangement or partnership.
Banks offer insurance policies to their customers based on their knowledge of their situation and needs.
Corporate Agents can represent one life insurer, one non-life insurer and one standalone health insurer. In addition they can represent the two specialised insurance companies, Export Credit Guarantee Corporation and Agriculture Insurance Corporation of India.
Click here to visit IRDA Agency Licensing Portal