Insurance marketing firms, which are licensed as a separate entity under the intermediary category, have stuck to pure soliciting or procuring insurance products. While 44 insurance marketing firms have been registered by the Insurance Regulatory and Development Authority of India (IRDAI), only five are involved in distribution of other financial products.
Insurance marketing firms are registered by the IRDAI to solicit or procure insurance products, to undertake insurance service activities and also to distribute other financial products as specified in the regulations by employing individuals licensed to market, distribute and service such other financial products.
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