In 2015, the IRDAI (Insurance Regulatory Development Authority of India) developed a new form of license for insurance advisors called a PoSP (Point of Sale Person). Insurance advisors work for a single firm and can only offer products from that company in a particular category, such as life or non-life insurance.
Customers nowadays, however, have higher expectations: they want to know all of their alternatives and seek guidance from advisors on how to select the finest product. You can do this with a PoSP (Point of Sale Person) license or certification. As a PoSP, you’ll be able to sell products a variety of general insurance products. As a result, a PoSP license encompasses a broader scope than a standard insurance advisor license. Therefore most individuals now take insurance advisor career as a PoSP.