Best POSP Insurance Company in India

Best POSP Insurance Company in India

The individuals that provide coverage from any insurance company on your behalf are known as insurance agents. These days, finding insurance agents online is simple. They assist you in deciding what suits you best and are compensated with a brokerage charge by the firm whose plan you ultimately choose to buy.

It serves as a go-between for the customer and the insurance provider. To get the top insurance broker for you, compare them. Everyone today wants to find a secondary source of income to supplement their current income. As a result, anyone looking to make additional money or pursue a career in the insurance industry can choose to become a POSP insurance agent.

POSP Insurance Agent

Point of Sales Person is referred to as PoSP. A PoSP can legally offer insurance plans to customers directly, making them similar to insurance agents. This agent can sell everything from business insurance, auto, health, travel, and accidental coverage.

They are qualified to conduct direct sales to customers. By choosing this high-return strategy, some people have already found job success. These individuals manage their small businesses and frequently interact with their clients. Some of them are former bankers, financial consultants, and Mutual Fund representatives. These individuals have elevated their status in India as top-tier general insurance brokers.

What Are The Benefits Of Becoming A POSP?

  • Take control of your career
  • Work whenever it suits you. You are the one in charge!

  • There are no set times
  • Your working schedule and choice of full- or part-time employment are both up to you.

  • Home-based employment
  • Utilise online tools to sell insurance and operate from anywhere, including your home!

  • Less than 15 hours of training
  • You can become an insurance guru with just hours of instruction.

  • Earn a lot of money
  • The number of policies you issue determines your income. See how much you can make with each insurance plan you sell.

      The Best Company To Join As A POSP: How To Choose It?

      Do your research on the insurance provider or broker you intend to work with to generate business as a POSP. Here are a few things to watch out for:

      • The organisation provides a huge selection of insurance plans, such as health, automobiles, travel, homes, businesses, etc.
      • There will be no intermediaries in your dealings; you will deal directly with the business.
      • Even if a client you signed up for renews their coverage, you can still get paid.
      • The business provides paperless, hassle-free online processes.
      • The business pays out commissions for the insurance you sell rapidly.
      • They will assist you because they have a capable backend support staff.

      As a result, if you're searching for a position with flexible hours, a tonne of options, and the chance to aid others in achieving financial security, working as an insurance POSP might be the perfect fit for you. The best part is that getting started is quite simple once you recognise this industry’s potential.

      The only need for obtaining a General/Life Insurance licence is to complete the IRDAI's mandatory training course. This training will typically be given to you by the insurance provider itself if you registered through a business or insurance broker. Later on you have to appear for the insurance agent exam. Once you pass the exam, you are ready to go and will receive a POSP certificate.

      What Criteria Must You Meet To Become A POSP?

      One can enrol in a prescribed training programme, pass the online exams, and become licenced as a POSP. To sell policies in life insurance and general insurance categories as long as they match the fundamental requirements of age 18 and pass Class 10. It includes motor insurance, health insurance, travel insurance, and more.

      Getting Started As A POSP Insurance Agent

      The quickest way to become a PoSP Insurance Provider is by completing the PoSP certification process. You simply need to fulfil the IRDAI's minimal educational criteria and finish the training programme to become a PoSP agent. The specific procedure for becoming a PoSP Insurance Agent in India is simple.

      To become a PoSP, apply online at the targeted company's website if you wish to work as an agent there. You can also apply using the company's smartphone app.

      The following files/documents must be uploaded.

      • Aadhaar card
      • PAN card
      • Bank information
      • Education credential
      • Photographs
      • Apply an application for PoSP training
      • Complete the PoSP insurance training
      • You become a PoSP certified agent after passing the online insurance agent exam.
      • At that point, you can start making sales, refer clients, and begin receiving commissions.

      POSP Agents Commission For Insurance

      The company pays a commission to the insurance brokers as compensation. The kind of policy and how long it lasts affect the insurance agent commission. There is no such constraint or limits on the income of a PoSP Insurance Provider. The earnings are solely based on the kind of policy, the potential of the person, and the volume of sold policies.

      Kind Insurance A POSP Can Offer

      The majority of the insurance policies that a PoSP insurance provider can sell are pre-underwritten services like -

      • Vehicle insurance
      • Health insurance
      • Individual accident coverage
      • Travel protection

      What Are The Challenges A POSP Faces?

      A POSP insurance agent is only permitted to sell the policy. They are not permitted to offer other services, such as claim consulting or risk management. They were unable to communicate or effectively advertise complex insurance plans.

      To deliver services to customers, they depend on insurance brokers or businesses. They have to work harder to give clients the best experience possible because they are less trained.

      The Best Career Option As POSP: Why?

      POSP insurance providers can sell plans from numerous insurance companies and across both life and non-life categories, in contrast to traditional insurance agents who can only provide the insurance products of their own company.

      Without the requirement for underwriting, POSP may provide insurance coverage right away. User-friendly and efficient technology platforms are provided to POSPs so they may offer clients right away help.

      Agents with the POSP programme may offer simple, all-inclusive insurance policies with tax benefits.

      Due to their accessibility locally, POSP insurance providers can develop stronger relationships with their clients and gain their trust.

      How To Register With Choice Connect As An Insurance Agent Online?

      • Register yourself
      • Apply for training
      • Get Certified
      • Recommend customers
      • Track your status
      • Receive payment

      Why Choose Choice Connect?

      Currently, there are 4 lakhs plus clientele and 50 local offices. There are 1500 plus business partners and 25 plus years of experience through which you can create a professional life in insurance with Choice Connect and earn great pay-outs.

      Advantages Of choosing Choice Connect:

      • From the convenience of your home, develop a passive income stream.
      • Become affiliated with a well-known financial brand.
      • Utilise additional financial goods to boost your earnings.
      • Gain money at your own pace.
      • Increased revenue sharing.

      Summing Up

      If you want to work from home comfortably and earn money, you might choose to become an Insurance POSP Agent from Choice Connect.

      A fantastic choice for financially savvy people, homemakers, and retirees, among others. Choice Connect offers comprehensive support for launching your business.

      Additionally, a dedicated Relationship Manager will be assigned to you to assist with lead conversion, as well as a backup system to handle your leads.

Don't forget to share this article