Point of Sale Person (PoSP)
Insurance Sector is governed and regulated by its registration authority, Insurance Regulatory and Development Authority of India, or IRDAI. All the activities related to Insurance are supervised closely. The PoS (Point of Sales) initiative was introduced by IRDAI, to increase insurance penetration in India. In other words, a PoS agent can sell insurance after receiving a Certificate by IRDAI.
PoS persons can be engaged directly by insurance companies or by other intermediaries such as corporate agents and insurance brokers.
Hence, if you want to get certified as a PoS agent, you need to get yourself registered with an insurance company or broker. Take the requisite training, study, and pass the IRDAI test with a certain minimum percentage.
So if you are looking to earn an extra income or make a career in the insurance industry, you can become a PoS Insurance Agents.
If you feel you can convince people and make them aware of the importance of insurance. And finally, close the deal. Then you are the one. You may be a Student, a Housewife, a Working Professional, a Retired Person, or even a Businessman, you can be anyone!
The following are the minimum requirements to become a PoS Insurance Person:
- Resident of India
- Minimum age 18-years
- Passed Secondary school, Matriculation, or any other equivalent
- PAN Card
- Aadhar Card
- Bank account
Training: A person applying for a PoS License needs to undergo a minimum of 15-hours training. PoSPs are employed by Insurers, corporate houses& Brokers. PoS persons can promote the products of the recruited insurer only.
Therefore, the training, as well as the certification is provided by the recruiting Insurer.
Certification Test: As stated above, the Certification is provided by the employer. So, the test is also taken by them. This test can also be taken online.