A number of web aggregators have moved out of the industry due to stringent regulations.
After scrutinizing a number of web aggregators, IRDA has given a green signal to three aggregators – myinsuranceclub.com, accuratequotes.com and insuringindia.com. Last December, IRDA had issued extensive guidelines pertaining to web aggregators which led to exit of many web aggregators.
Most of the aggregators have exited from the industry since they felt that the business model was not viable under the new rules. For instance, Apna Paisa.com now gives out only information on insurance product and does not carry any comparison or recommendation.
Web aggregator, compare premium rates for life, health, travel and motor insurance. Most portals just generate leads and not all offer the option to purchase a product online. However, some do facilitate an online buying process to the extent possible, usually by directing the insurance-seekers to the companies' website.