The Insurance Regulatory and Development Authority of India (IRDAI) is the statutory body responsible for regulating and promoting the insurance industry in India. One of the important functions of IRDAI is to issue licenses to insurance companies and intermediaries such as insurance broker and agents. The Insurance Broker license process ensures that only qualified and competent entities are allowed to operate in the insurance sector, thus protecting the interests of policyholders.

IRDAI has a set of guidelines and requirements that need to be fulfilled by applicants before they can obtain a license. These include meeting certain capital and solvency requirements, complying with regulatory norms, and undergoing training and certification programs. IRDAI also monitors the performance of licensed entities and takes action against those who violate regulations or fail to meet standards. Overall, the licensing services provided by IRDAI play a critical role in ensuring a transparent, efficient, and stable insurance market in India.