The Insurance Regulatory and Development Authority of India (IRDAI), which regularly monitors all insurance-related activities, strictly regulates the insurance industry in India. IRDAI launched the Point of Sales Person (POSP) project to broaden the appeal of insurance in India. To put it another way, an IRDAI accreditation enables a POSP insurance agent to sell insurance or Become a POSP Advisor.

Since there aren’t enough people with the necessary training to work as insurance agents or distributors, the penetration of insurance in India has historically been low. Even when it comes to the sale of relatively simple products like motor insurance, travel insurance, health and general insurance services, the insurance sector expects professionalism. Only registered and trained distributors can offer policies from particular insurance companies for more complex insurance products like Unit Link Insurance Plans. In order to provide insurance coverage to a larger population throughout India, the business has to hire more highly qualified insurance agents who can provide prompt and individualized customer service.

When it comes to this, the initiative to become a POSP insurance agent is crucial. The purpose of the new entry category that IRDAI has created is to speed up the process of quickly incorporating multiple insurance brokers and distributors. Compared to general agents, brokers, and corporate agents, these people have fewer strict eligibility standards. The purpose of empowering POSP insurance agents is to give them the ability to offer fundamental insurance products, especially those that require minimal documentation, explanation, or complexity.

How to become an insurance online POSP agent

Account Creation

To become a POSP advisor, you must complete this first. Visit any insurance website, click the “Become a POSP” button, provide the requested information, and create an account by entering a username and password.

KYC Document Verification

Aadhaar and PAN card copies should be uploaded as part of your KYC documentation. The insurance provider or broker will check the required documentation.

Training

A minimum of 15 hours of training is required for anyone seeking to become a POSP advisor. To begin with, you must register with an insurance provider, corporate insurance partners, or brokers. Once you become a POSP insurance agent, you are only allowed to market the goods of the insurance provider you have chosen. Only the insurance firm you hired will also give you the training and certification. Choosing the business prudently is therefore advised.

Certification Test

As we previously stated, your recruiting insurance business provides you with the certification; as a result, they also take the certification test. Prior to taking the test, you must successfully finish the training. Furthermore, online testing options are available for this exam.

All Things Considered!

In India, there is an opportunity to help make insurance more widely available by working as a point-of-sale agent. This project enables individuals to engage in insurance sales with the help of the Insurance Regulatory and Development Authority of India. Despite the fact that the procedure entails account formation, KYC document verification, training, and a certification test, it eventually gives people the ability to offer fundamental insurance products. Furthermore, in India, there is a gap in insurance coverage, and this initiative intends to fill that gap while also giving more people access to necessary coverage.

In today’s complex and unpredictable world, securing one’s financial future has become more prominent than ever before, and insurance stands out as the most effective way to mitigate financial risks. While there can be several ways to purchase insurance, individuals might have difficulty choosing a policy that caters to their requirements. This is where seeking the help of a nearby insurance advisor from a reputed broker such as Policy Ensure can aid them in choosing the right insurance. However, a person might have a prominent question: How do I find an insurance advisor near me?     

When we fall sick, we consult specialist doctor. When legal matter comes we look forward to hire a specialist advocate. Similarly Insurance is a complex matter which the advisors understand better than any individual buyer. The insurance companies do not offer any discount on premium in case advisor is not there. Hence it is always better to have a nearby insurance advisor.

Policy Ensure, a pioneer in insurance brokerage services, has a wide reach in Tier 2 and Tier 3 cities, making insurance accessible to everyone. Several insurance advisors or point-of-sale persons (PoSPs) who are experts in the industry can aid a person in providing guidance, policy recommendations, claim assistance, and tailored coverage.

Multiple Insurance Companies have different products, having complex insurance jargons which is complex for any individual. It has find prints which the insurer never explains but when a claim takes place, it is denied showing one of the fine prints. Here advisors understand and ensure that broadest coverage with minimum exclusions are provided. At the same time, claim process turnaround times reduce due to involvement of an advisor due to volume being generated by the advisors. 

An expert’s guidance

Insurance policies can be complex, and the industry jargon can be overwhelming for people. The local insurance advisors are well versed in the nitty-gritty of insurance and can help an individual understand terms, conditions, and exclusions in simple language. They can help people navigate through the complexities so that they get clarity about the types of insurance or health and general insurance services provided by brokers.

Policy recommendations

A lot of times, people might not know what policies will cater to their needs. Here, the insurance advisors can assess an individual’s requirements and recommend policies that align with their goals and budget. In addition, they also compare multiple coverage options, policies, and premiums to ensure a person makes informed decisions. Here, Policy Ensure makes sure that people get these local advisors at their doorsteps, so that every query is addressed and confusion is resolved.

Claims assistance 

In a situation where a person requires a claim, an insurance advisor can guide them through the process while ensuring the policyholder understands every step that has been taken. They can further act as an advocate, liaising with the company on the individual’s behalf and helping them to gain the compensation they are entitled to.

Tailored coverage 

Insurance does not necessarily follow a one-size-fits-all approach, and an advisor can help a person customise their coverage according to their needs. The PoSP can comprehend an individual’s unique needs and devise a coverage plan that is specifically tailored. This ensures one does not overinsure or underinsure and has the right amount of coverage for an unexpected situation. Moreover, as insurance advisers have a wide range of insurance types, one can choose the cost-effective option that can meet one’s needs.

All things considered

Insurance is an essential component of planning finances and managing risks during an unfortunate event. However, you might feel overwhelmed while choosing the right policy for your needs. This is where Policy Ensure’s PoSP can aid you with an expert’s advice, policy recommendations, claim assistance, and tailored coverage.

If you are still bothered by the question of where I can find a nearby insurance advisor, then you can rely on the wide network of Policy Ensure’s PoSPs, who are continuously striving to provide the best insurance brokerage services to people who are living in remote areas. Having an insurance advisor by one’s side can be a piece of mind, as they are ensuring that everyone is accessible to health and general insurance services provided by brokers.

For an individual, purchasing a home is one of the most vital investments. While buying a good house is important, maintaining and safeguarding it from unexpected events such as calamities or burglaries is equally critical. This is where a home insurance policy has a vital role to play. However, there can be several factors that could impact the home insurance policy cost. Therefore, before considering insurance brokerage services, it is crucial to understand the dynamics that could affect your premium. Here are five factors that are the most important:

The location of your home

The location of your home is the most critical factor in determining the cost of your home insurance policy. For instance, if you live in a high-risk area, your policy premium is likely to be high. These areas usually have a high chance of burglary or theft, making them a high-crime-rate region. On the other hand, if you are in a gated society where security measures are stringent, then the premium of your policy will be relatively low.

The characteristics of the construction

The features of the construction of your home also play a vital role in affecting your insurance premium. These characteristics include the age of the building, additional structures such as swimming pools, clubhouses, etc., and the value of these structures. The older houses have a high risk of damage and, therefore, a higher home insurance policy cost. The premiums for newly constructed houses are comparatively lower.

Weather conditions in the city

The weather conditions in your city or town are an external factor that impacts the premium on your home insurance. If you are residing in an area that is prone to natural calamities, there is a possibility that an event may damage the foundation of your home. Therefore, for people living in areas that witness regular earthquakes, floods, cyclones, and more, the cost of their insurance policy is high.

The type of insurance policy

This is the most important factor that determines the cost of your home insurance policy. Insurance is complex, and you might be paying a higher premium if you do not have the ideal policy at your disposal. This is a critical differentiator, as the insurance premiums of two similar properties can have different premiums. Therefore, it is critical to have the helping hand of the best home insurance policy advisor, who can help you choose the right policy for your house, saving you a substantial amount of money.

Safeguard your home with Policy Ensure

Choosing the best home insurance for your house can be a daunting task. This is where Policy Ensure can extend a helping hand. Being a pioneer in insurance brokerage services, Policy Ensure provides you with a myriad of options to choose from. Furthermore, to simplify your search, you also have a provision to consult the best home insurance policy advisor, who is a point of sale person (PoSP). They can guide you through the whole process of choosing and then purchasing the ideal policy for your needs.

The wide network reach ensures that the PoSPs reach your doorstep and explain all the above-mentioned factors that could impact home insurance policy costs. As a result, you safeguard your house in case of any unexpected events while saving a huge amount on the premium. A house is a dream for many people; therefore, protect it with home insurance today.

Living in a fast-paced world has become increasingly stressful, which is impacting the health of many people, especially in India. According to a large-scale survey by Statista, almost 61% of Indian women and 47% of Indian men were unhealthy based on their diet and lifestyle choices. Therefore, having the best health insurance premiums plan has become crucial in a bid to manage the rising healthcare costs.

Today, there are several insurance plans available for you and your family. However, the policies may differ on several aspects, such as premiums, benefits, coverage, and more. It can be a possibility that you might be paying a higher premium if you do not have the right knowledge and information. In this piece, we will discuss how you can save money on premiums and get the best affordable health insurance.

Start early

One can get several benefits from purchasing health insurance at an early age, as the premium for health insurance increases with age. In other words, the rate of the health insurance premium is directly proportional to the age of the policyholder. This is due to the fact that people are more susceptible to diseases as they age. Therefore, the premiums will cost less at your young age owing to the lower risk to the insurance companies.

Buy insurance for the entire family.

Another way to save money for an individual is to purchase a health insurance policy for family instead of buying individual plans for each member. A family health insurance plan provides coverage on a floated-sum insured basis. The benefit of this floater plan is that all the family members share its benefits, and you only need to pay a single premium amount. Thus, it leads to huge cost savings on premiums.

Go for long-term tenure.

The long-term tenure of a health insurance policy can help you save on premiums. Typically, plans that come with a tenure of two or three years are less expensive than one-year plans. Therefore, you get the best affordable health insurance with a long-term policy discount, which also saves the hassle of renewing the policy every year.

Choose the coverage wisely

In order to save on the premium you are going to pay, you must choose the coverage with the utmost care. However, the terminology of insurance can be overwhelming for some people, and choosing the best health insurance plan can become difficult. This is where consulting a licenced insurance broker, such as Policy Ensure, can be the best option. Their insurance advisors or point-of-sale people (PoSP) can comprehend your needs and help you choose the coverage by suggesting the most affordable health insurance for you.

Lead a healthy life with Policy Ensure

Having health insurance has become crucial in today’s time and age, whether you are purchasing one for yourself or a health insurance policy for family. However, in a bid to save money on health insurance premiums, one must purchase a policy at a young age, buy a floater plan for the family, consider a long-term tenure plan, and choose the coverage wisely.

For some people, purchasing the best health insurance plan can be daunting, but fortunately, licenced brokers such as Policy Ensure are here to help. You can reach out to a PoSP, who will understand your requirements and then suggest the best insurance policy that is affordable for you. This is how a broker can help you future-proof your health in a hassle-free and convenient manner.