POSP is a type of insurance agent who works with insurance companies or corporate agents to sell insurance policies directly to customers. Unlike traditional insurance agents. who are associated with only one Insurance company. POSP's who are associated with a Corporate Agent can sell insurance products to all companies, the corporate agent has tied up with across all segments. Life, Health & Motor insurance
If you wish to work as a POSP insurance agent, you must have certain minimum credentials. The following are some of them
| Policy type | Sample premium | Commission earned |
|---|---|---|
| Car insurance | 25000 (OD premium) | 3,750 |
| Bike insurance | 15000 (OD premium) | 2,250 |
| Health insurance | 25000 | 3,000 |
| Term insurance | 10000 | 3,000 |
This is how much you can earn by selling just one insurance policy for these four categories. Based on how many policies you actually sell, your potential earnings per month as a POSP insurance agent may go up to ₹ 85k*!
POSP stands for Point of Sales Person. A POSP is essentially an insurance agent, who has the authority to sell insurance policies directly to consumers. This agent can sell a variety of insurance products, right from Motor, Life and Health to business insurance.
POS (Point of sale) are the insurance agents, who has the authority to sell insurance policies directly to consumers. The agent can sell a variety of insurance products both in Life Insurance and General Insurance category.
When you work with a reputed brand like ours, you get to enjoy a wide range of benefits, including –
Full support in terms of POSP training, generating leads and selling policies
Relationship manager to help PoS agents at every step of the sales journey
Choice between digital and hybrid (digital + physical) business mode to suit your convenience
Quick and easy commission payout
The Partner should not be associated with any other Company to sell insurance on IRDAI website.
You need to be at least 18 years old, with a minimum qualification of class 10 to be eligible to sell insurance as a PoS agent.
To register with us as a POSP, you need to upload the below documents:
PAN card
Address proof (UID)
10th/12th class marksheet
Cancelled cheque photo upload (if the bank account number, bank name, bank IFSC code input verification fails)
Yes, you need to complete a basic 15-15 hour POSP training for Life and General Insurnace both as mandated by IRDAI. Post training, you need take the examination to certify as a POSP.
Can pursue sourcing business even when having a job
No need of a office space
Can work at your own pace
Has unlimited learning potential
If you want to become an insurance agent, you must be over 18 years of age should have completed education up to at least Class 10th, and have a valid Aadhaar Card and PAN Card.
As soon as you have registered with us, you may begin your training for the POSP exam. On giving and passing the exam, you will receive an eCertificate. You are then ready to start selling insurance as a POSP agent.
Yes, you will have to complete the training to become a POSP. It will include topics ranging from basics of insurance, policy types, process for issuance and claims, rules and regulations etc.
Yes, You can sell General,Health and Life Insurance after Become POSP with ICICI Direct.
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