How to Become Insurance Agent in Nagpur

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 also sells insurance policies. However, the difference lies in the types of policies that he sells. An individual insurance agent is licenced and qualified by the IRDAI to sell customised and complex insurance policies to customers according to their requirements.

An individual insurance agent holds the certification to sell high-risk policies such as marine insurance, personal accident insurance, etc. Individual insurance agents can work with one general insurance company, one standalone health insurance (SAHI) company, and one life insurance company simultaneously. These agents can tailor plans to offer flexible, client-centric solutions.

If you are planning to become an insurance agent, you must know that TATA AIG insurance agents have a lot of benefits. You can enjoy the following benefits by becoming a TATA AIG insurance agent in Nagpur.

• Flexible Work Hours: As a general insurance agent in Nagpur, you can set your own schedule. It allows you to have a work-life balance that suits your needs.

• Work from Anywhere: The ability to sell insurance online means you can operate from home or any location. You do not need to operate from a physical office.

• Low Entry Barriers: Becoming an insurance agent is easy for many individuals, as it requires minimal educational requirements and no initial investment needed.

• Diverse Product Range: You can sell various insurance products, such as TATA AIG health insurance or motor insurance, and cater to a wide customer base.

• Attractive Earnings Potential: Your income is commission-based. It allows you to earn more by selling more policies, as there is no upper limit on earnings.

• Professional Development: Training and support from insurance companies will help you become an insurance agent in Nagpur and enhance your skills and knowledge in the insurance sector.

• Customer Impact: You play an important role in helping clients secure their financial future through insurance products and make a positive difference in their lives.

Who is eligible to be an insurance agent? To become an insurance agent in Nagpur, candidates must meet specific eligibility criteria established by the Insurance Regulatory and Development Authority of India (IRDAI).

• Age Requirement: Applicants must be at least 18 years old; however, there is no upper age limit to become a POSP (Point of Sales Person) or individual agent.

• Educational Qualification: A minimum of 10th grade qualification (Secondary School, Matriculation) is required.

• Indian Resident: Candidates must be residents of India.

• Documentation: Candidates must have the necessary documents, such as an Aadhaar Card and PAN Card, along with a bank account in the applicant's name.

• Training and IRDIA Exam: To become a POSP, applicants must complete a 15-hour training conducted by the insurer. And to become an individual agent, you need to complete a 25-hour training before you can sit for the IRDAI exam for insurance agents.

• Insurance Agent Licence: Passing the exams for insurance agents is mandatory to obtain the licence. 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.

Fulfilling these criteria helps candidates obtain the TATA AIG insurance agent licence and sell various insurance products. It ensures that agents are well-equipped to provide quality service and knowledgeable advice to clients in the insurance sector.

To become an insurance agent in Nagpur, candidates must provide specific documents as part of the registration process. Here is what you will need:

• Aadhaar Card: Aadhaar Card acts as an identity and residential proof.

• PAN Card: A PAN card is required for tax identification and financial transactions.

• Educational Certificates: Educational certificates are proof of educational qualification of completing matriculation or its equivalent.

• Bank Account Details: A bank account in the applicant's name is necessary for commission payments.

• Passport-Size Photographs: Recent passport size photographs.

• Proof of Training Completion: Documentation of training completion to confirm that the candidate has completed the mandatory training hours at an accredited institution.

After submitting these documents, candidates must pass the IRDAI exam for insurance agents to obtain their insurance agent licence. This certification validates their knowledge and skills in the insurance domain.

To become an insurance agent in Nagpur with TATA AIG, follow these steps:

Check Eligibility

Ensure you meet the basic requirements. You must be at least 18 years old and have completed your 10th-class education.

Register Online

Visit the TATA AIG agent registration page. Fill out the required details, such as your name, contact information, line of business, PIN code, location, etc. and click on ‘Proceed.’ TATA AIG representatives will contact you and guide you through the process of becoming a TATA AIG insurance agent.

Complete Mandatory Training

After registration, you will need to undergo a training programme approved by the Insurance Regulatory and Development Authority of India (IRDAI). If you wish to become a POSP you must undergo 15-hours of mandatory training, consisting of 5 modules.

However, if you aspire to become an individual insurance agent you must train for 25-hours as mandated by the IRDAI. Only then, you are eligible to appear for the exam.

Pass the IRDAI Exam for Insurance Agent

Following your training, you must pass the insurer’s or the IRDAI exam for insurance agents. These exams assess your understanding of insurance regulations and products.

Obtain Your Insurance Agent License

Once you pass the exam, apply for your insurance agent licence through TATA AIG. This licence is necessary to legally sell insurance products.

Start Selling TATA AIG Insurance Policies

With your licence in hand, you can begin offering TATA AIG's range of insurance products to clients. You can also leverage the company’s support and resources to successfully become an insurance agent with TATA AIG in Nagpur.

• Individuals Aged 18 and Above: Any Indian citizen over 18 years old with a passion for sales can qualify for this role.

• Minimum Educational Qualification: Candidates must have completed at least the 10th standard to be eligible.

• Aspiring Entrepreneurs: Ideal for individuals who want to work independently and earn a flexible income.

• Students: College students seeking part-time income without disrupting their studies.

• Retirees: Individuals looking for a flexible way to earn after retirement.

• Homemakers: Those wanting to work from home with adjustable hours.

• Sales Enthusiasts: Individuals with strong communication skills and a passion for helping others can become an insurance agent in Nagpur.

• Professionals from Various Backgrounds: Salespeople, business owners or even students can become insurance agents.

• Technology-Savvy Individuals: Since most processes are digital, basic tech skills will help candidates understand and manage online sales processes effectively.

Becoming an insurance agent in Nagpur with TATA AIG offers numerous advantages. Here are the top reasons why you must consider becoming an insurance agent with TATA AIG:

• High Earning Potential: This is a commission-based role, and your income can significantly increase with the number of policies you sell.

• Flexible Work Environment: You can work independently, set your own hours and work from anywhere. This work is ideal for those balancing other commitments.

• Training and Support: You may use the TATA AIG eAcademy platform to learn and grow in your career.

• Reputable Brand: Joining TATA AIG means associating with a trusted name in the insurance industry. It will enhance your credibility with clients.

• Career Growth Opportunities: The role as an insurance agent with TATA AIG allows for personal and professional development

If you are wondering about - what is the commission of insurance agents, you must know that they vary. An insurance agent in Nagpur gets a commission based on the number of sales they make. Here is a breakdown of the type of commission they can earn.

• Commission-Based Earnings: Insurance agents earn primarily through commissions, which vary based on the type and volume of policies sold.

• Renewal Commissions: Agents also earn on policy renewals, which provides a steady income stream.

• Incentives and Bonuses: Many insurance companies offer performance-based bonuses and incentives for agents who exceed sales targets.

• Flexible Income Potential: Earnings largely depend on the agent's sales efforts and commitment. It offers flexible income potential and growth opportunities.

By becoming an insurance agent with TATA AIG, you can build a rewarding career while contributing positively to your community.

Pursuing a career as a POSP or individual insurance agent in Nagpur with TATA AIG presents a golden opportunity for individuals from diverse backgrounds seeking flexible work arrangements and substantial earning potential.

By fulfilling the necessary criteria, obtaining your insurance agent licence, and leveraging TATA AIG's extensive support, you can establish a fulfilling career in the insurance industry.

Start your journey today with agent registration. Help secure the financial futures of many while achieving your own professional goals.