How to Become an Insurance Agent in Indore

A POSP (Point of Sales Person) insurance agent is an individual who is authorised to sell simple insurance products to customers. To become a POSP, you need to have the bare minimum qualification for insurance agent. As a POSP, you can work with only one insurance company at a time.

To become an insurance agent in Nagpur, you need to be at least 18 years old, have a minimum 10th-class pass certificate, and clear the insurance agent test. Key responsibilities of a POSP insurance agent include selling general insurance while providing customer support.

Who is eligible to become a POSP? Anyone meeting these criteria can pursue this opportunity to become insurance agent and start a rewarding career in the insurance sector.

An individual insurance agent is an insurance company representative who sells basic and customised plans to customers based on their needs. These professionals are known for their diverse knowledge about a wide range of insurance products and services, showcasing their expertise and versatility in the field.

The purpose of an individual insurance agent is to sell the insurance plans to customers that fit best in their requirements. They generally sell a high sum insured product to the customers.

Similar to POSP insurance agents, individual insurance agents also need to clear an exam and undergo a comprehensive insurance training. This intensive training, followed by the IRDAI exam for insurance agents, ensures that these professionals are well-equipped and licenced to serve their customers.

Individual insurance agents can work with one general insurance company, one standalone health insurance (SAHI) company and one life insurance company simultaneously.

An insurance agent in Indore can enjoy an array of benefits. Some of them are listed below:

Flexible Timings

One of the benefits of becoming an insurance agent in Indore is the flexibility of the schedule. Unlike regular or traditional jobs, individuals do not need to spend 8-9 hours on this job. They can work flexible hours based on their convenience.

Be Your Boss

Another advantage of being an insurance agent in Indore is the freedom to be your own boss. You are not tied to a traditional 9-5 job; instead, you can work on your terms and choose a working style that suits you best. This flexibility can be empowering and liberating.

High Income

Most individuals who choose to become insurance agents as a career choose to earn a high income. Unlike other jobs, which pay a fixed salary, the earning in an insurance agent job is commission-based. The more policies the person sells, the higher his income will be.

Zero Investment

Another benefit of being an insurance agent in Indore is that it requires no financial investment. Almost every job demands some kind of investment, but to become an insurance agent, you only need to dedicate your time and effort.

In order to become a general insurance agent in Indore, applicants need to meet the eligibility criteria listed below:**

General Eligibility Requirements

• Minimum Age: The first requirement applicants need to meet is the age criteria, which is 18 years to become an insurance agent.

• Educational Qualification for Insurance Agent: Another requirement applicants need to fulfil is a minimum educational qualification. Applicants should have a 10th-class passing certificate to become an insurance agent.

• Mandatory Training: Applicants need to complete the mandatory training at an IRDAI-approved institution. The training duration for becoming a POSP insurance agent is 15 hours. And for individual insurance agents, it is 25-hours.

• IRDAI Exam: Another essential requirement is passing the exam for an insurance agent. To become an individual insurance agent, you need to get at least 15% marks to pass the IRDAI exam, however, POSPs have to sit for the online exam conducted by the insurer and there is no such specified limit for the qualifying marks for them.

• Professional Experience: This is not a necessary requirement, but if applicants have any professional experience, it might benefit them in their careers.

Here is the list of documents applicants need to submit to become an insurance agent in Indore:

• Identity proof such as aadhar card, passport, etc

• Address proof such as aadhar card, utility bills, driving licence, etc

• Copy of PAN card

• Coloured photographs

• A cancelled cheque

Applicants need to follow the agent registration process to become insurance agents with TATA AIG. Below are the steps to join as a TATA insurance agent:

• Step 1: Online Registration Process

  Applicants who wish to join the TATA AIG agent program need to visit the TATA AIG agent registration page. They must fill out the agent registration form correctly and then click on the “Proceed” button.

• Step 2: Complete the Training Program

  After completing the agent registration, applicants need to complete the mandatory insurance training program from an IRDAI-approved institution.

  The training program is 15 hours long for POSP agents and 25 hours for individual insurance agents. It teaches applicants about insurance policies, types, processes, regulations and more.

• Step 3: Obtain the Licence

  Once you have completed the insurance training, then you need to take an insurance agent test. After passing the exam, the IRDAI will issue a licence.

• Step 4: Start Selling Insurance Products

  After acquiring an insurance agent licence, you can start selling insurance plans to your customers. Also, it is suggested that applicants work on their sales and communication skills to sell insurance plans more effectively to customers.

Anyone who meets the basic eligibility criteria can become an insurance agent in Indore. The role offers freedom and a potential to earn well. Here are some examples of who can consider becoming an insurance agent:

Homemakers

For full-time housewives and homemakers, being an insurance agent is a suitable career. They can earn money and contribute to their family finances while also giving their family equal time.

Retired and Elderly

In old age, retired and elderly people get bored easily as they do not have much to do. So, to keep themselves occupied, trying to be an insurance agent is a suitable option, as it keeps them busy and also makes them financially independent.

College Students

College students who are pursuing their studies but are also looking for a part-time job to sustain their living can become an insurance agent in Indore. The professional experience will not only give them a chance to network with other people but also boost their confidence.

Financial Advisors

Those who are already employed in the finance field can consider the role of an insurance agent. These professionals already have enough knowledge about the field to sell plans more effectively to customers, and it also helps them diversify their experience.

If you want to become a general insurance agent with TATA AIG, you will enjoy the perks listed below:

• TATA AIG is a household name, so there will be credibility when you sell a TATA AIG insurance plan to customers.

• We understand that upskilling is crucial in the cutthroat market; hence, we offer the TATA AIG academy platform to insurance agents to grow and learn.

• We believe in a long-term association with our insurance agents, so you do not have to worry about being fired from your job.

• We have a reward and recognition program to value the hard work of our insurance agents.

• We also have an incentive program for our insurance agents to motivate them and acknowledge their hard work.

How much an insurance agent in Indore earns depends on their selling skills. Insurance agents' earnings are commission-based, which means the more insurance plans they sell to their customers, the higher their income will be.

There is no fixed salary structure. Hard-working insurance agents can make a high income from this job.

The insurance market is growing at a steady pace. With more people looking to buy insurance plans, the need for insurance agents has become crucial. These licenced professionals help customers choose the best insurance plan. Plus, it also gives them the freedom to work at their convenience.

Due to this flexibility, most people want to be insurance agents full-time. TATA AIG is a reputed insurance provider that invites individuals to be insurance agents with us. We offer a growth-oriented environment to all our insurance agents. Visit our agent registration to become an insurance agent.