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Become Insurance PoS agent through SIBPL: Scope, Eligibility and Benefits

The sector of insurance in India is in control of its registration authority, the Insurance Regulatory and Development Authority of India (IRDA). Hence, this institution closely supervises all the activities which are related to insurance. To escalate insurance rift in India, the PoS (Point of Sales) initiative was set in motion by this superlative authority. In simpler words, a PoS insurance agent can sell insurance in the wake of receiving a Certification by IRDA.

The perforation of insurance in India has always been on the low side due to the scarcity of professionally trained people who can act as insurance agents or distributors. Professionalism is the demand of insurance industry ethics even for the selling of simple products such as motor insurance or travel insurance. Furthermore, for complex insurance products such as Unit Link Insurance Plans, only a registered and trained distributor can sell policies from a particular insurance provider company. Therefore, to reach out to a vast number of people across all the corners of India, the insurance industry today needs more and the best insurance agents who are technically trained to deliver quick and optimized customer satisfaction according to individualized requirements.

This is where the PoS insurance agents’ initiative comes into the picture. To facilitate a quick accommodation of a large number of insurance agents and distributors, IRDA has allowed this new type of entry.

These individuals are allowed to have lower qualification criteria (as compared to other insurance distributors such as general agents, brokers, and corporate agents) which can be coped up by continuous training. This is the paramount intention why IRDA has empowered these PoS Insurance Agents to part-exchange only basic products. Specifically, these agents can only sell products which do not require a lot of documentation, explanation and complexities

What is an insurance PoS agent?

Insurance PoS (Point of Sale) agent is a tag name that is given to those insurance agents who are certified and can sell specific and limited insurance solutions. These PoS insurance brokers can be straightforwardly employed and trained by insurance providers (or by other negotiators such as corporate insurance broker companies and individuals).

On that account, if anyone wants to become a certified PoS agent then he/she has to first get them registered with an insurance firm or an individual broker. After registering yourself, you also need to take the necessary training, study and pass the certification test of IRDA with a minimum of percentage.

Today, everybody wants to earn extra money by a supplementary financial channel. Therefore, people who would like to generate extra money and wish to make a career in the field of insurance can be in communication with us anytime. We are Square Insurance Brokers Private Limited (SIBPL). Numerous experts of the insurance industry whose evaluations are appreciated, affirm that we are one of the dominating insurance providers in our country, and our work culture and ethics are one-and-only

Eligibility Criteria and how to become an insurance PoS agent?

Any person, if he/she feels that he possesses convincing powers and can make people aware of the essentiality of insurance then he/she is the right person to become a PoS insurance agent. You can be anyone, a student or a housewife, a businessman or a working professional, or even a retired person; you just need to learn the basics of insurance and need to learn how to close a deal.

Some individuals have already achieved success in their careers by selecting this high return option. These people are small business owners who meet with their customers regularly; some people run their individual insurance business; others are retired bankers, financial advisors, and distributors of Mutual Funds. These people have converted themselves to the top-notch general insurance brokers in India.

Eligibility:

According to IRDA, there are some minimum requirements that one has to fulfill if he wishes to become a PoS insurance agent. These are:-

  • Person should be a resident of India
  • Person should be of 18 years or more
  • Minimum educational qualification is 10th (Secondary school, Matriculation or any other equivalent degree)
  • Person has to produce original Aadhar Card and PAN Card
  • A Bank Account with the applicants name is also mandatory.

Procedure:

Training: A person who wishes to obtain the license of a PoS agent needs to undergo a minimum of 15 hours of training. First, you have to register yourself with an insurance company, corporate insurance partners, or brokers. After becoming a PoS agent, you can promote the products of your recruited insurance company only. The training and certification are also provided to you by your recruited insurance company only. So, it is advisable to choose the company wisely.

Certification Test: As we told you before that the certification is provided to you by your recruiting insurance company, therefore, the certification test is also taken by them. You have to complete the training first, and then need to clear the test. This test can also be taken via online channels. SIBPL is one of the best insurance companies in India.

Which benefits you can grab by becoming a PoS insurance agent?:

You work as per your need and convenience by becoming your own boss. Nobody pressurizes you for the results and targets.

According to IRDA, a PoS agent can sell a wide range of insurance plans such as pure term plans and Non-linked Non-participating Endowment plans. Furthermore, you can also sell travel, motor, and personal accidental policies as well as general insurance plans that need a minimum of underwriting.

This is not a fixed timing job. You have the leverage and flexibility to decide your working hours whether you wish to do the job part-time or full-time. You don’t need to invest money: This is a zero money investment business. You can start your successful profession without investing any money and can grab high and additional monetary returns.

the insurance plans are generally simple and easy to understand and explain. The benefits from these plans and investments can be straightforwardly calculated and stated beforehand. Furthermore, these benefits are pre-defined, non-fluctuating, and fixed; therefore, this increases the percentage of closing and decreases the risk of handlings

you do not need to hire a place to establish an office for the dealings. You can do the workings from your home only. You can contact the clients by phone and can also encourage them to use the online channel to purchase policies.

training gets over in 2 to 3 days. You can complete it and become a certified PoS agent within a week or less.

There is no fixed remuneration. Your income will depend on the number of policies you issue and the deals you close. So, the scope of earning money is infinite, there is no maximum limit. In this way, this is a limitless way to earn as much as you can.

Why you should become a PoS agent with Square Insurance, one of the top insurance broking companies in India?

we are the paramount insurance brokers firm of India. The list of insurance sector awards with which we are bestowed is endless. Anyone can get a hint of our prestigious company and company culture from this website. Without any doubt, Square insurance is the best PoS insurance company and manufactures the best insurance PoS in India.

We have developed our structure of workings in a way that we ensure the minimum of paperwork and hustle-free process of documentation. 24*7 trained customer care department: cent percent customer satisfaction ratio and timely reminders of premiums from our side prove that we have mountain-top customer-care representatives.

on-time claim settlements and reimbursements is our principles and ethics.

Our employees are highly qualified and carry years of working experience in the sector of insurance. Furthermore, our training and development team trains you for all the unfavorable circumstances and provides timely updates so that you face a minimum of problems and enjoy a supportive environment during client meetings. In this way, we produce the best insurance brokers in India.

Square insurance is a resemblance and embodiment of perfection. Anyone working with us gets leverage to be a part of our goodwill.

Frequently Asked Questions (FAQ’s) about PoS agents

A PoS agent should keep in mind to address the needs of the first-time customers of the insurance industry who look for basic insurance policies.

A PoS agent can sell Motor Insurance Policy; Travel Insurance Policy; Personal Accident Policy; Non-Participating Endowment Plans as well as all the products approved by IRDA.

No, today we are living in a highly developed technological world. You can use all the IT tools to close a deal such as cell phones, the internet, zoom meetings, and online registration channels.

Android applications also help in the same.

The best thing about this job is it has no minimum or maximum borderline. The amount you can earn totally depends on the effort and time you put in. You can grab unlimited monetary

benefits and can make your future bright if you work with dedication and professionalism. In this way, you can enhance your abilities to become one of the best PoS brokers in India.

You need to submit a copy of your Aadhar card, a copy of your PAN card, a copy of the 10th certificate, a canceled cheque, and a photograph.

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