With just your phone and a little time, you can start earning by helping people get motor insurance — anytime, from anywhere.
unlimited earnings
zero investment
manage everything in one app
when it suits you
Get trained & certified as a POSP
Marketing creatives to attract customers
Rewards & recognition for top performers
Dedicated partner & end-to-end claim assistance
Multiple product options
Clear and fair earnings
First, let's understand what POSP is. Point of Sale Person is a process of becoming an authorised person to sell insurance (motor, health, life,etc.) directly to customers. The best part? Almost anyone can start! You just need: Age 18+ , Minimum 10th pass,Aadhaar or Pan card That's it! no office, no degree, no investment—just the will to grow.
motor insurance
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Join thousands across India helping protect bikes and scooters every day
A Bike Insurance Agent is broadly categorized as a motor insurance agent, as someone who earns commissions with an Insurance Company and promotes the policies offered for specific motor insurance products. Also known as two wheeler insurance agents, they are equipped to consult two wheeler owners on acquiring the appropriate insurance policy based on the customer preferences and requirements.
The agents collaborate directly with the insurance company to divulge information that remains compatible with the clients and aim at providing services without any breaches. These agents are trained to push policies to sell insurance schemes that help the owner cover any unforeseen expense due to damage caused by accidents, thefts, fire, natural calamities, or liabilities towards accidental injuries to the third parties.
A Bike Insurance has been one of the necessary documents that a two-wheeler vehicle owner must have as there has been an increasing number of vehicles on the road and it is understood that safety is at the priority.
The increased number of motor vehicles has made our roads much more accident prone. The thoughts of a fatal accident has not only snatched the well-being of owners but it also makes them think twice before buying a motor vehicle. Moreover, it also boils down to the fact that if they can afford the damages caused to the vehicle just in case anything happens. So to ensure safety and well-being while riding your two wheelers or a motor vehicle you are required to have insurance coverage.
As appealing to the aforementioned causes, the Supreme Court released an optional directive (effective from September 1, 2018) that all General Insurance companies are to issue a five-year TP (Third Party) insurance cover for two wheelers purchased henceforth, this directive being optional, it still amassed two wheeler vehicle owners to hold at least a mandatory third-party liability insurance cover, with heavy penalties if a breach of mandate occurred.
With motor insurance constituting 39.4% of the non-life insurance market in India, positions for Two wheeler insurance agents are the surge. A two wheeler insurance agent is associated with selling motor vehicle-related (two wheeler) insurance products to prospective customers who are willing to purchase the same based on their requirements. With IRDAI making motor insurance compulsory in India, the policy covers protection against natural disasters, non-natural accidents, and legal liabilities such as a third party being involved in an accident. The agents are exclusively trained to comply with irregularities and help with developments across suitable policy purchases.
Inclusive of the strict advisory provided by insurance companies, an individual that lays the interest to become a bike insurance agent must conform to a minimum age of 18 years or above. The sector amasses talent who have completed his/her education have completed 12th standard education. As proof of identification, the interested candidate must possess an Aadhaar Card and PAN Card. Although, opportunities in the bike insurance sector can be availed by retirees, students, or undergraduates looking for a side hustle that would compensate them with some extra bucks.
Some practices require the person to undertake specific training enlisted with the company he/she has applied for. The compulsory training is prescribed by IRDAI (Insurance Regulatory and Development Authority of India), a regulatory body under the jurisdiction of the Ministry of Finance, Gov. of India, that is responsible for regulating and licensing the insurance and re-insurance industries of the country. The training further coincides with a mandatory examination specified and conducted by IRDAI that further strengthens the position of the interested candidate.
However, if you enrol the opportunity through a financial service provider, you may not be required to be licensed professional as the service provider itself is a registered authority which shall ensure that all base requirements are fulfilled. Simultaneously, it gives you exposure to various insurance companies.
The following benefits are to be considered while applying for a bike insurance agent position with a respective insurance company:
In the year 2017, IRDA hiked the commission of most non-life insurance policies making it more attractive and thus resulting in more opportunities under its revised commission guidelines released in March.
In India, the commission payable to bike-insurance agents depends on varied factors. Complying with the policymakers, the insurance comprises two components, viz, Third Party or Act Only, and Own Damage. The percentage discretion generally bifurcates between the two components, without deduction of the premium.
Two wheeler insurance agents in India earn handsomely, however, it may vary between policies. The remuneration may differ as per the company, besides relevant factors such as location and precedence of tenure. Keeping in mind the outcome of the sales achievements, the insurance agent has the capacity to earn accordingly, since there is no upper ceiling concerning the earning potential of the two wheeler insurance agent.
To comply with the industry-standard service delivery, a bike insurance agent should be equipped with multi-faceted roles and responsibilities that add to his forte of engagement with the customer. Some of them are listed below:
The standard minimum eligibility criteria allows candidates with a minimum age of 18 years or above and is required to complete till 12th standard. As proof of identification, the candidate must possess documents such as Aadhaar Card and PAN Card, Address proof. Furthermore, the candidate is required to undertake specific training conducted by IRDAI.