Insurance Brokerage License, also known as the business license or insurance brokerage business license of the insurance brokerage company, is a necessary qualification for the insurance brokerage company to legally carry out insurance brokerage business within the territory of the People's Republic of China. This license is issued by the China Insurance Regulatory Commission (CIRC) or its dispatched agencies, and is a symbol of the legal operation of insurance brokerage companies.
An insurance brokerage company is a special kind of financial intermediary that is guided by the needs of its customers and provides them with professional services such as insurance purchase, risk management, and claims consulting. Unlike insurance companies that sell insurance products directly, insurance brokers negotiate with multiple insurance companies on behalf of their clients to negotiate the best insurance terms and**.
To obtain an insurance broker license, a company needs to meet a series of conditions, including but not limited to:
Registered capital requirements: It is usually necessary to have a certain amount of registered capital to prove the company's economic strength and ability to take risks.
Personnel requirements: There is a need for a certain number of employees who hold insurance broker qualification certificates, and they are responsible for providing professional insurance advice and services to customers.
Business plan: The company needs to submit a detailed business plan that explains how it intends to conduct business in the field of insurance brokerage.
Compliance requirements: Companies need to demonstrate that their business and management processes comply with CIRC regulations, and that they can effectively control risks and protect the interests of customers.
After obtaining an insurance brokerage license, a company can carry out insurance brokerage business within the prescribed scope, but it is also subject to regular supervision and review by the CIRC to ensure the compliance and soundness of its business operations.
In general, the insurance brokerage license is the "passport" for the insurance brokerage company to legally conduct business, which is not only a reflection of the company's strength, but also an important reference for customers when choosing a partner to work with.