In 2015, the IRDAI (Insurance Regulatory Development Authority of India) developed a new form of license for insurance consultants called a PoSP (Point of Sale Person). Insurance consultants 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 consultants on how to select the finest product. You can do this with a PoSP (Point of Sale Person) license or certification. As a PoSP (Point of Sale Person), you’ll be able to sell products from a variety of insurance carriers, including term life, ULIPs, endowment life, auto, health, personal accident, home, and travel. As a result, a PoSP (Point of Sale Person) license encompasses a broader scope than a standard insurance advisor license. Therefore most individuals now take the PoSP (Point of Sale Person) option for advisor career.