Starting a career requires careful consideration, especially with the current industry dynamics. The insurance sector is one such lucrative choice offering 360 opportunities for various skillsets. It involves roles like data scientists, underwriters, claims adjusters, and more.
The insurance industry features a major employment chunk for freshers and experienced individuals, with the expansive industry and continuously upcoming technologies. In addition, the insurance sector is among the stable and oldest industries dating back to 4000 BCE.
Reasons why people choose insurance as a career opportunity over other options?
Along with various career choices, insurance is a top career choice among individuals for the following reasons:
- Versatile career options: Insurance offers different career paths depending on one’s skillset. As the sector is classified into three sectors namely health, life, and auto insurance, every sector features different roles. One can select from roles like actuary, claim examiner, claim adjuster, investigator, sales agent, and underwriter.
- Challenging work: Although insurance policies are often looked at as a boring aspect working in insurance is totally the opposite. New technologies also find applications in the insurance sector, and there is no set day on the job. Every day offers new challenges.
- Constant learning: Those who like to stay on trend can opt for an insurance job as it is a constant learning source. The insurance dynamics change as per changing industry trends and it spreads across various domains. Hence, a person needs to learn new things to stay on top. Insurance agents need to be aware of the legal and taxation rules along with other essential information.
- Flexible work schedule: Certain roles in the insurance sector do not require a person to be constantly present at their desk 24 x7. Those individuals who love being on their feet can select positions requiring fieldwork, ultimately offering a better work-life balance.
- 360 industry presence: Global economies are dependent on insurance as their safety net. Insurance spreads across sectors, like construction, IT, healthcare, e-commerce, retail, aviation, transport, travel, electrical, etc.
Who are insurance advisors, and why do they play a major part in insurance?
As the insurance sector offers lucrative career options for those interested in the financial and investment sector, an insurance advisor is a famous role preferred by many individuals. An insurance advisor is known to provide suggestions and guidance to clients regarding a range of policies. They are the spokesperson for insurance companies and customers. These individuals are responsible for selling insurance products to clients and receive compensation from the insurance company as a commission.
What is the role of an insurance advisor?
Insurance advisors generate business for insurance companies and also support clients to get the best of their insurance policy. Hence, an insurance agent’s role is classified into two prominent categories:
- Working for the company
An insurance agent or advisor works for a particular company and sells its products to a customer. They perform the following roles for a company as follows:
- Generate business
- Retain existing policies
- Promote insurance brand or company
- Working for the customers
Insurance policies are long-term commitments ensuring overall family well-being. Insurance agents need to be trustworthy and diligent in their work, ensuring clients benefit the most from their advice and expertise.
Considering these aspects, an insurance agent performs the following roles toward their customers:
- Identifies customer goals
- Analyzes the financial goals of the customers
- Provides different claim options
- Ensures insurance continuity
- Supports clients with claim settlements
Along with suggesting policies as per client requirements and finding custom options, these representatives also resolve customer queries. They also educate customers about the nooks and corners of each policy. By consulting an insurance provider one can get a fair idea about taxes, current liabilities, and future investments through policies.
Hence, the insurance sector offers interesting career opportunities for professionals wanting to kickstart their career, for instance, an insurance advisor. For those looking to become an insurance advisor companies like Renewbuy provides lucrative opportunities for freshers and experienced professionals.
How to become a RenewBuy POSP advisor?
An insurance agent can sell insurance products from a particular company, however, a point of salesperson (POSP) can sell different products from various insurance companies ranging from life insurance to car insurance. Multiple individuals look for alternate income options. Becoming a RenewBuy POSP advisor can be beneficial as one can take it up as a part-time job.
Steps to becoming a RenewBuy POSP advisor
Step 1 Register with the RenewBuy Partner Program: An individual simply needs to visit the RenewBuy website and their ‘Become an advisor page.’ One has to enter their full name, email-id, mobile number, and Pincode.
Step 2 Upload essential documents: Once registered, a user has to upload necessary documents like a 10th passing certificate, Aadhar or PAN card, photograph, canceled cheques or bank details, and other essentials.
Step 3 Attend training: Once a user completes the registration and verification, they have to attend the online training offered by RenewBuy. The training duration involves 15 hours similar to other insurance companies.
The training program consists of five modules, each module requires an individual to invest almost 3 hours. An individual cannot move to the next module until they complete the first module. The syllabus for POSP training cover basic to advanced information related to insurance.
Step 4 Attempt the exam: Once an individual completes all five modules, they can appear for the POSP test. An individual can also refer study materials and reappear for the exam if they fail on the first attempt. RenewBuy allows an individual to reappear for an exam without paying any additional fees or training costs.
After passing the POSP exam, an individual is set to start selling different insurance products directly to customers.
Reason to choose RenewBuy over other insurance companies
RenewBuy is a leading insurance product platform featuring versatile insurance policies, right from health insurance, car insurance, motor insurance, and Mediclaim policies. Along with their extensive range of products from leading businesses, RenewBuy offers complete freedom to its POSP agents or insurance broker to earn as much as they require. Once a POSP agent understands customer requirements, they can guide them in purchasing their preferred product.
Advantages of becoming a RenewBuy POSP insurance agent
Given the product versatility and easy registration, the insurance policy platform offers the following benefits:
- Zero hassle and 360 online procedures: After becoming a POSP insurance agent with RenewBuy, an individual can sell all the products offered by the company on their online platform. These involve a car, two-wheeler, health, life & travel insurance policies, all sold through online channels.
- Versatile options: RenewBuy partners with a plethora of insurance providers, offering POSP agents opportunities to work for multiple insurance providers.
- The company features more than 20 insurance companies with different products like motor insurance, life insurance, health insurance, and travel insurance.
- Additional income: RenewBuy offers an easy way to generate additional income. An individual can do all this without affecting their regular job.
- Zero Investment: The company ensures their POSP agents do not have to invest any amount to begin working with RenewBuy. An agent simply needs a smartphone with reliable internet connectivity. The entire process takes place online, hence, one does not have to invest any additional bucks.
Other advantages:
- Zero investment business opportunity
- Free POSP certification under IRDAI guidelines
- Monthly attractive payouts
- Digital passbook options to track your business
- Dedicated relationship manager support
In addition, a person does not have to worry about extensive degree courses or training.
Eligibility process to become a POSP advisor
RenewBuy features a zero-hassle process to become a POSP advisor. The minimum educational qualification criteria to become a RenewBuy POSP advisor is a 10th pass. With such minimal qualifications, any individual can opt for a career as an insurance advisor.
Final thoughts
With such lucrative offerings and extensive options, RenewBuy is a top choice among individuals to kickstart their career in the insurance sector. The extensive opportunities available in the insurance sector can help individuals launch successful careers while helping people. Becoming a POSP agent with RenewBuy allows individuals to work from the comfort of their homes, all while ensuring a steady flow of income. With just 15 hours of training, an individual can become a POSP agent and begin selling policies and generating additional income.
In addition, these insurance brokers can also obtain extensive knowledge about different insurance products across multiple sectors. Minimal qualification requirements, zero investment, online process, and monthly payouts are why RenewBuy has become a top choice among individuals when selecting the right company to become a POSP agent.