Becoming a POSP (Point of Sales Person) insurance agent is a great way to start earning income in the insurance sector without needing a significant investment. The process is simple, quick, and entirely online. Here’s how you can get started:
1. Choose a Certified Insurance Company or Aggregator
The first step is to partner with a certified insurance company or aggregator that offers a POSP model. Many leading insurers and online platforms allow individuals to register as POSP agents, providing access to a range of insurance products like life, health, and motor insurance.
2. Complete the Online Training
Once you’ve chosen a company, you will need to complete a mandatory online training. The Insurance Regulatory and Development Authority of India (IRDAI) mandates a 15-hour training program for all POSP agents. This training helps you understand the different types of insurance policies, selling techniques, and customer management. It’s often provided for free by the insurer or aggregator you’ve signed up with.
3. Pass the Certification Exam
After completing the training, you will be required to take an online exam. This exam tests your knowledge of the insurance products you will be selling and your understanding of industry regulations. Passing this exam is essential to becoming a certified POSP agent.
4. Start Selling Insurance Online
Once you pass the exam, you will receive your POSP certification. With this, you can start selling various insurance policies directly to clients online, through mobile apps, or via other digital platforms. Your earnings will be based on commissions from the policies you sell, allowing for flexible and scalable income opportunities.
Becoming a POSP agent online is a great way to earn income, offering both flexibility and the ability to work from anywhere.