ISNP License Mandatory Documents for SMEs in Delhi

In today’s fast-growing digital insurance market, more and more SMEs in Delhi are shifting toward online platforms to sell and service insurance products. With IRDAI encouraging digital transformation, the Insurance Self-Network Platform (ISNP) has become a powerful opportunity for small and medium-sized insurance enterprises to grow faster, reach wider audiences, and operate with full compliance.

But most ISNP applications get delayed simply because the mandatory documents are incomplete or improperly prepared.

If you are an insurance-related SME planning to apply for an ISNP license, you should understand every required document in detail so you can apply smoothly and avoid unnecessary IRDAI queries.

Company Registration Documents

Your SME must first prove that it is legally registered and eligible to conduct business in India. IRDAI checks the basic registration documents to ensure that the applicant is a valid entity. These include:

• Certificate of Incorporation
• Company PAN
• Memorandum of Association (MOA)
• Articles of Association (AOA)

Your MOA must clearly mention insurance-related activities such as insurance distribution, web aggregation, digital insurance services, or online insurance facilitation.

KYC Documents of Directors & Shareholders

The ISNP license requires strong transparency. IRDAI needs to verify the identity of every key person associated with your SME. For this, you must submit:

• PAN & Aadhaar of all directors
• Passport-size photographs
• Proof of address
• DIN (Director Identification Number)
• Complete shareholding pattern of the company

Accurate KYC ensures there is no mismatch during verification.

A Detailed Business Plan

This is one of the most important documents of the ISNP application. Your business plan must clearly show how your SME will operate in the insurance sector. It should include:

• Type of insurance services you will offer
• Target audience and customer reach
• Revenue model and financial projections
• Details on digital operations
• Expected growth and expansion plan

A strong business plan builds trust and shows IRDAI that your organization is capable of running a compliant ISNP.

ISNP Website / App Technical Documentation

Since ISNP operates fully online, IRDAI carefully checks the technology behind your platform. You must provide:

• Website architecture
• User journey flow (search → compare → select → buy)
• Payment gateway process
• Data encryption process
• Customer onboarding process

This documentation helps IRDAI understand how your platform functions and whether it meets industry guidelines.

Cyber-Security & IT Infrastructure Compliance

Selling insurance online means handling sensitive customer data such as KYC documents, payments, and policy details. To ensure maximum security, IRDAI requires:

• CERT-IN audit report
• VAPT (Vulnerability Assessment & Penetration Testing) report
• Cybersecurity compliance certificate
• Disaster recovery plan
• Data backup and data privacy policy
• Encryption standards

These documents assure IRDAI that your digital ecosystem is secure and protected from cyber threats.

Technical Source Code or System Documentation

Though full source code is not always mandatory, you must submit clear documentation that explains:

• Backend structure
• API integrations
• Hosting environment
• Security protocols
• System workflows

This helps IRDAI evaluate the transparency and reliability of your ISNP’s technical foundation.

Board Resolution for ISNP Application

A formal board resolution is required to confirm that your SME’s directors have agreed to apply for ISNP. This resolution must include:

• Name of the authorized signatory
• Approval to apply for ISNP license
• Appointment of the Principal Officer

A proper resolution avoids approval delays.

Principal Officer Qualification Proof

Every ISNP must appoint a qualified Principal Officer who takes responsibility for regulatory compliance. Documents required:

• Educational certificates
• IRDAI training proof
• Professional experience letters
• Appointment letter

IRDAI checks these documents to ensure that a capable and knowledgeable officer is overseeing the ISNP.

Financial Documents

Your SME’s financial strength is important for long-term operations. You must submit:

• Audited financial statements (past 3 years)
• GST returns
• Bank statements
• Net worth certificate issued by a Chartered Accountant

Well-prepared financial documents increase your chances of quick approval.

Legal Policies & Compliance Documentation

To ensure customer protection and transparency, IRDAI requires clear documentation of your service policies. These include:

• Privacy policy
• Terms & conditions
• Refund and cancellation policy
• Customer grievance redressal policy
• Data retention policy
• Call-recording and support policy

These documents must be displayed on your ISNP website or app.

Partnership & Vendor Agreements

If your SME works with insurance companies, tech partners, or other service providers, you must submit:

• Agreements with insurers
• Technology partner agreements
• Service Level Agreements (SLAs)
• API/portal access permissions

IRDAI checks these to ensure that all partnerships are legal and transparent.

Conclusion

Obtaining an ISNP license presents a significant growth opportunity for insurance-focused SMEs in Delhi looking to establish a compliant and scalable digital presence. With the right preparation, accurate documentation, and a clear understanding of IRDAI requirements, businesses can enter the digital insurance ecosystem smoothly while avoiding regulatory delays, compliance gaps, and unnecessary queries.
To ensure a seamless application process, it is essential to prepare all technical, legal, and business documentation in advance and align your systems with regulatory standards. Partnering with experienced compliance professionals like Helios Global can simplify this journey by providing structured guidance and end-to-end support at every stage of the ISNP licensing process.

Call to Action
Helios Global offers complete assistance for ISNP licensing, including documentation preparation, technical compliance, CERT-In audits, VAPT, portal architecture, and IRDAI submission support.
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