Types of Individual Licensee | Principal |
Licensed Individual Insurance Agent | Authorized Insurer |
Licensed Technical Representative (Agent) | Licensed Insurance Agency |
Licensed Technical Representative (Broker) | Licensed Insurance Broker Company |
For applicants applying for a new individual licence, they should first approach their appointing principal, as the licensing process will only be initiated after the principal agrees to appoint the applicants and assists them in creating an account on the IA’s online portal, “Insurance Intermediaries Connect” (“IIC”). Once the account is created, the applicant can submit the licence application electronically via the IIC, together with the relevant licensing fee.
Applicant applying for new licence as an insurance agency or insurance broker company, the application should be submitted to the IA in paper form. The relevant application forms are available on the IA's website. If the application is considered generally complete, the IA will notify the applicant to submit a crossed cheque for the applicable processing fee.
The IA endeavours to process every licence application in a timely manner, and we aim to process each type of application within the following timeframes:
Type of Application | Processing Time1 |
New Application: | |
- Individual Insurance Agent / - Technical Representative (Agent) / - Technical Representative (Broker) |
5 business days for straight-forward application or 20 business days for non-straight-forward application2 |
- Responsible Officer | 4 weeks |
- Insurance Agency / - Insurance Broker Company |
12 weeks |
Renewal Application: |
99% of applicants are notified of the results before their current licences expire |