The Salient Features of Instructions as Issued By IRDA for Accredited Training Institutes :
A Training facility can be provided by either IRDA accredited Agents Training Institutes (‘ATIs’) or by the Insurer’s own accredited Training college (which is a part of the insurance company’s organisation). Further a Training can be provided either offline or online by such Institutes.
An accreditation is provided to Training Institute by IRDA subject to the following conditions:
(a) Institutes which are engaged in training for financial / insurance products for more than 3 years are eligible to apply for starting an offline/online institute. However this will not apply to in-house institutes of insurers
(b) Only entities registered as Company under the Companies Act and Society and trusts registered under Societies Registration Act shall be eligible to apply for accreditation as ATls.
(c) The accreditation will be given on need basis. The existing private ATls will be granted a one-time permission as assessed by the Committee to relocate the centers within the state. The existing ATls will also be eligible for reallocation of the centres within the state based on the assessments made by the Standing Committee.
(d) For a new location if more than one private Agents Training Institutes apply for accreditation, internal grading and marking system will be applied to give accreditation on merits. The ATls shall register themselves with PF Commissioner and scrupulously follow the statutory provisions regarding the contribution of the PF amount to the accounts of the employees.
(e) The initial approval will be for a period of 3 years and consideration of further renewal next 3 years would depend on the satisfactory compliance of requirements of accreditation. Accreditation of any centre which has not conducted any pre recruitment training for one year continuously will be liable for cancellation. For renewal cases the ATIs are required to apply with all documents/details 3 months in advance of expiry of accreditation.