Becoming a Point of Sales Person (PoSP) in the insurance industry is a promising venture that opens doors to a dynamic career. To embark on this journey, obtaining a PoSP Insurance Code is a crucial step.
In this comprehensive guide, we will walk you through the process, requirements, benefits, and steps of acquiring your PoSP Insurance Code.
Quick Link: Become an Insurance Agent with PBPartners.com
A PoSP is essentially an empowered insurance agent authorized to directly sell diverse insurance products to consumers. This role encompasses offerings ranging from motor and life insurance to health and business insurance.
The PoSP Insurance code issued by the Insurance Regulatory and Development Authority of India (IRDAI), which is the regulatory body governing the insurance sector. Possessing this code legally authorizes you to sell insurance products in compliance with industry regulations.
A PoSP Insurance Code is not just a numerical identifier; it is a symbol of your official recognition and authorization in the insurance sector. It provides you with the legal and professional standing to conduct insurance sales, fostering trust among both insurers and customers.
Identify the insurance company you want to associate with as a PoSP. Research their products, reputation, and support system to make an informed decision.
Ensure you meet the eligibility criteria set by the chosen insurer. Typically, this includes minimum educational qualifications and sometimes-prior experience in the insurance sector.
Visit the official website of the chosen insurance company like PBPartners. Locate the registration section for PoSP applicants and provide the required personal and professional details.
Upon successful registration, you will undergo basic training mandated by the Insurance Regulatory and Development Authority of India (IRDAI). This training is accomplished through online or offline modes.
After training, you will need to clear the IRDAI exam. This examination evaluates your understanding of insurance products, regulations, and ethical practices. Post that, you will become a certified insurance agent.
Once you successfully pass the exam, you will obtain a PoSP Insurance Code. This code is unique to you and serves as your identification in the insurance domain.
Benefits of Being a PoSP with PBPartners after obtaining PoSP code
Many insurance transactions, especially in today’s digital age, take place online. The PoSP Insurance Code allows you to access online platforms provided by insurance companies, enabling you to efficiently connect with customers and conduct business.
Acquiring a PoSP Insurance Code is the gateway to a rewarding career in the insurance sector. By following these steps and embracing the responsibilities that come with the role, you can set yourself on a path to success as a certified Point of Sales Person. Unlock the opportunities that await and make your mark in the thriving world of insurance.
A POSP is essentially an insurance agent, who has the authority to sell insurance policies directly to consumers.
To become a POSP i.e. Point of Sales Person, the minimum requirement is to be 18 years of age and basic education qualification. You can then qualify to register yourself with IRDA certification.
Start by choosing an insurance company or broker to associate with it. Complete the registration process on their platform, fulfilling the required personal and professional details.
The training for a PoSP usually comprises 15 hours and could be completed through online or offline modes, depending on the insurer’s provision
Yes, after completing the training, individuals need to pass an examination. This examination assesses their understanding of insurance products, regulations, and ethical practices.
The primary source of income for most insurance agents, including PoSP agents, is through commissions tied to the premium of the policies they sell. The key concept to understand in this context is the "base commission." The base commission represents the standard commission that an insurance agent, in this case, a PoSP agent, earns for each policy sold.
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