Become a Motor Insurance Agent
Work
in spare time
Earn
side income
FREE
training by Digit
Who is a Motor Insurance Agent?
Interesting facts about Motor Insurance industry in India
Why become a Motor Insurance Agent with Digit?
Learn more about why should you become a motor insurance agent, and why should you choose Digit?
How to become a Motor Insurance Agent?
The easiest way to become a vehicle insurance agent is by completing POSP certification. A POSP (Point of Sales Person) is the name given to an insurance agent who can sell specific insurance products.
To become a POSP, you only need to have the minimum educational qualifications required by the IRDAI and undergo training provided by us. Digit will take care of your training process. Don’t worry!
What are the requirements and qualifications to become a Motor Insurance agent?
If you want to know how to become a car insurance agent, you must be over 18 years of age, should have completed education up to at least Class 10, and have a valid Aadhaar Card and PAN Card.
You will be then be asked to complete compulsory 15-hour training specified by IRDAI. We promise to help you learn everything you need to know!
Who can become a Motor Insurance agent?
The only requirement to become a motor insurance agent is that the candidate must be over 18 years of age and should have completed Class 10.
This means that anybody who has an aptitude for selling insurance policies can become a POSP Agent. This includes college students, stay-at-home spouses, retirees, and businessmen/women.
How to become a Motor Insurance Agent/POSP with Digit?
Step 1
Sign up by filling our POSP form given above, fill all the details & upload required documents.
Step 2
Complete your 15-hour training with us.
Step 3
Complete the prescribed examination.
Step 4
Sign the agreement with us and that’s it! You’ll be a certified POSP.
How much you can earn?
Your income as an insurance agent depends on the number of policies that you sell. The more the number of policies that you sell, the greater your income. A motor insurance agent can sell insurance policies for car, bike and commercial vehicles.
This means that you can sell both comprehensive and standalone policies to the customers, for which the commission structure is given below:
Type of policy & vehicle |
Age of the vehicle |
The maximum rate of commission |
Comprehensive policy - Four wheelers and other types of private or commercial vehicles |
1-3 years old |
15% of the own damage premium |
Comprehensive policy - Two-wheelers |
1-3 years old |
17.5% of the own damage premium |
Comprehensive policy - Four wheelers and other types of private or commercial vehicles |
4 years and above |
15% of own damage premium + 2.5% of third party premium |
Comprehensive policy - Two-wheelers |
4 years and above |
17.5% of own damage premium + 2.5% of third party premium |
Standalone Third-party liability policy - All types of vehicles |
Any age |
2.5% of the premium |