Car Insurance Agent
A car insurance agent is an individual who helps you protect
your car from any primitive accidents or uncertain circumstances by means
of accurate insurance policy. The primary role of a car insurance agent is to
provide a shield to your vehicle by facilitating you with the right policy.
A Car Insurance policy can cover the insured party, the insured vehicle,
and the third parties (car and the people) against which the car owner has to pay a premium.
However, acquiring the right policy is not an easy task. That’s why one should opt for a car insurance agent.
The car insurance agent helps you procure the right policy at the right price.
Currently, there are more that 100 policies available for car insurance. But,
one needs to screen the apt one before purchasing a policy. Moreover, every car
is different and demographics also have an important role to play in defining a
car insurance policy premium. The agent, as a subject expert, shall provide you
with enough information based on the type of car, the policy and keep in consideration
the other factors before offering you a policy which may otherwise be a hassle.
Who Can Become a Car Insurance Agent
The criteria specified by the IRDA to become a car insurance agent is such that
anyone and everyone from any walk of life can be a part of it.
Anybody who has a passion for cars and wants to earn a passive income can become
a car insurance agent. This could be a student over the age of 18years looking
forward to making additional pocket money or a housewife who wishes to contribute
to her household income or a retired person wanting to channelise his network and
experience can aim to be a car insurance agent. Other than that, working professionals
can also opt for it as a part-time career option.
Benefits of Becoming a Car Insurance Agent
No Investment Required
The format designed by the insurance industry paves a way for every
individual to channelise his opportunity by building a network.
He/ she doesn’t need any kind of investment as there are no fixtures attached.
All you need to do is associate with an insurance company or
insurance service provider by fulfilling the required criteria and get started as
an insurance agent. Your earnings will depend on the amount of policies sold.
Live Your Passion
Not everyone gets to live his passion. But, if you are passionate about cars and
enjoy this subject, then being a car insurance agent can be an added advantage to you.
As you are aware about the cars, you can easily convince, guide and mentor the insurer to
acquire the right policy.
Growth and Stability
By being an insurance agent you can get financial growth and stability
with passive earnings without quitting your current occupation.
Enhance Your Entrepreneurial Skills
If you are someone who likes to work on your own terms and have the inclination of building your own business,
being an insurance agent may be your first step to success.
Learn From Industry Stalwarts
The insurance industry is huge and therefore a number of training and webinars are provided
from the experts in the industry. Through their experience, one can learn a
number of things especially in terms of self development and career growth.
Work With Top Companies
Most of the companies from the finance sector cater to the insurance sector. Hence, being a part
of the insurance industry gives you an opportunity to work with respected financial brands.
Flexibility to Work Anywhere Anytime
The best part about being an insurance agent is
there are no targets, no time restrictions and loads of flexibility.
Car Insurance Agent Commission in India
Every insurance company has predefined a value that an agent would receive on selling the policy.
These predefined values are commissions which are earned on the premium generated.
The automotive sector has seen a sudden rise since the last decade which has created opportunities to pursue a career as a
car insurance agent and make a decent income through commissions.
A car insurance agent may either earn a commission or a salary depending on whom he is working for.
If you have enrolled through a service provider platform such as Choice Connect,
you can experience working with multiple brands. However,
if you are committed to a specific insurance company, you may earn through a commision or a salary.
Car Insurance Agent Role & Responsibility
The primary role of a car insurance agent is to ensure an end-to-end service associated with insurance. This includes:
- Selling the right insurance policy
- Creating Awareness about the requirements
- Guiding them about the various policies
- Ensuring timely payments & Follow ups
Car Insurance Agent Salary
The salary or a commision of a car insurance agent is commensurate with the policy he sells.
The commision is earned through the premium that he generates on selling of the policy.
The government has ensured a decent percentage of commission to
encourage the insurance sector as a profession.
However, it depends on the individual to decide upon the targets and numbers.
It also depends on the policy, as every policy is subjective of the defined incentive.
Minimum Eligibility Criteria for Car Insurance Agent
You can become a part of the insurance sector not only as a policyholder but also as an insurance agent.
To become a car insurance broker with Choice Connect, here’s what you need to do.
You must be at least 18 years of age to become a car insurance agent.
As a car insurance broker, you must qualify for your 12th grade.
Training and Certification
You must complete the POSP Training and get a POSP certification.
- You must be self-driven.
- You must be proactive.
- You must have a thirst for knowledge.
- You must have a knack to sell products.
- You must have a basic level of computer proficiency