Who is a General Insurance Agent?
An insurance agent is someone that works with an insurance company to sell specific insurance products.
If you’re wondering how to become an insurance agent from home, or how to be a POSP or General Insurance Agent, you will help customers choose the right policy as per their personal requirements.
With Digit, you can sell Health Insurance, Motor (Car, Bike, Commercial Vehicles) Insurance, SFSP Insurance and International Travel Insurance.
What is General Insurance?
A General Insurance includes all non-life insurance policies such as car insurance, bike insurance, travel insurance, SFSP insurance, and health insurance among others.
These general insurance policies help people to protect themselves from losses in case of an unfortunate incident.
For example, a car insurance could protect someone from losses and damages caused to their car during an accident whilst a SFSP insurance would cover for damages in case of a burglary or natural calamity.
Given the rise in urban India’s standard of living, and laws like the Motor Vehicles Act, an increasing number of Indians are choosing to get themselves and what they own, insured.
*Disclaimer - There is no specific category for Agents. If you register for becoming a general Insurance agent, you can sell all general insurance products.
Interesting facts about General Insurance industry in India
The Indian general insurance industry grew by 14.5% last year alone. (1)
The total premiums underwritten by India’s non-life insurers stood at INR 1.59 trillion in 2019. (2)
The general insurance market in India is expected to cross $40 USD billion by 2020. (3)
Why become a General Insurance Agent with Digit?
Learn more about why should you become an insurance agent, and why should you choose Digit?
As our POSP partner, you will work directly with us. No other middlemen involved. Digit is the fastest growing insurance company India today. We are currently the youngest company to be awarded Asia's General Insurance Company of the Year 2019.
We offer a wide range of insurance policies covering a variety of assets. For example, we cover health, motor (car, two-wheeler, commercial vehicles), travel, home, and many others.
We believe in making insurance simpler, which is why all our documents are so simple that even 15-year olds can understand them.
With technology as our main pillar, we offer you a dedicated support team, and an advanced web & mobile app that allows you to sell 24x7!
All our processes are online, with absolutely no paperwork involved. It’s a win-win situation; it works well for you and your time, and customers prefer it too!
No long procedures or tedious paperwork. We issue insurance policies instantaneously online, without any inconvenience.
Don’t worry, we have your back! All our commissions are settled quickly. Your account will be credited with your commission every 15 days of policy issuance.
How to become an Insurance Agent online?
The easiest way to become an insurance agent is by completing your 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 an insurance agent?
Here is what you need to become an insurance agent online:
- You must be over 18 years of age,
- You should have completed education up to at least Class 10,
- You need to 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 an insurance agent?
The only requirement for becoming an 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 an Insurance Agent 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.
Why should I become a General Insurance Agent?
One of the primary advantages of being a POSP is the freedom to work as per your convenience. You can now be your own boss!
You can decide whether you’d like to work fulltime or part-time and craft your own working hours accordingly.
At Digit Insurance, we primarily sell insurance policies online. This means, you as a POSP can work from home and use our online processes to sell and issue policies.
To certify as a POSP, one of the main criteria's is to complete the 15-hours compulsory training offered by the IRDAI; which isn’t much to be honest! All it is going to take you is 15 hours of investment to get on board!
Your earnings don’t rely on number of hours worked but on the number of policies you issue. To have a better understanding of the same.
Apart from having a smartphone, a good internet connection, and the required 15-hours training, there’s nothing else you need to become a POSP. So, there’s almost no monetary investment required from your end, whilst the earning potential is high!
Frequently asked questions
What are the requirements to become an insurance agent (POSP) with Digit?
The documents that you will need to submit at the time of registration include Class 10 or above pass certificate, a copy of your PAN card, Aadhaar Card (front and back), a cancelled cheque (with your name on it) and a photograph.
Do the PAN Card holder and Bank Account holder have to be the same?
Yes, all commissions paid are subject to TDS. TDS is credited to the Income Tax authorities on the basis of your PAN Card.
When I can start selling insurance?
As soon as you have registered with us, you may begin your training for the POSP exam. On giving and passing the exam, you will receive an eCertificate.
You are then ready to start selling insurance as a POSP agent.
Is it compulsory to undergo any training to become certified as a POS person?
Yes, you will have to complete the training to become a POSP. It will include topics ranging from basics of insurance, policy types, process for issuance and claims, rules and regulations etc.
What support services will I get if I partner with Digit Insurance?
All Digit’s partners are assigned a relationship manager who will provide guidance and answer any questions that agents might have on the policies sold over the Digit platform.
Agents can also contact the customer support team by emailing us at partner@godigit.com for any assistance.
How can I keep enhancing my knowledge after completing the POSP certification?
We have another extensive training program conducted for our POSPs after certification. They help in enhancing your insurance knowledge and improving your sales and servicing skills. These training programs and events will cover the following:
- Advanced insurance knowledge to handle complicated cases
- Keep abreast with the latest insurance products and how to pitch them
- Fun and interesting ways to learn various selling techniques which help in increasing your sales volumes