How To Become An Insurance Agent In India | RenewBuy

How To Become An Insurance Agent In India

If you are looking for options to earn more money and to meet your expenditures to live a good life, there might be so many thoughts running in your head that what to do or how to make extra money. Even if you are already in job and still want to supplement your income, becoming an insurance agent is one of the best option you can opt for. Let’s have a look on How to become an insurance agent in India and examine the qualifications or training required to become an insurance agent as well. Insurance aggregator like RenewBuy is providing a platform where its POS agents are earning loads of money by issuing policy in few clicks.

How to Become an Insurance Agent

Those who are interested in becoming insurance agents are required to register online via IRDAI (Insurance Regulatory and Development Authority in India) portal. They can also approach an insurance aggregator, RenewBuy for guidance on becoming an insurance agent. For instance, if someone wants to become an insurance agent for RenewBuy, he/she can approach by visiting the application site, enter few details and contact information so that the company can get in touch with them.

With RenewBuy, the whole process of training and licensing can be completed in just 2 days. Registration requires certain forms to be filled and uploaded as well as a payment to be made via demand draft. After registration is completed, the exam date and timing would be intimated to the applicant.

Even IRDI website also offers study materials for agents that help them to understand what exactly is involved in becoming an insurance agent. The study materials are available in various languages such as English, Hindi, Marathi, Guajarati, Tamil, Bengali, Kannada, Malayalam, Telugu and Punjabi. The site also has useful links to corporate agents, the insurance institute of India portal, FAQs and more.

For many people, becoming an insurance agent can be a lucrative and stress-free job. It is possible to decide your own working hours and work from home without being tied to a desk and a 9 to 5 job. Retired people, mothers staying at home and others looking to supplement their income can benefit from knowing how to become an insurance agent with RenewBuy. By becoming an insurance agent with RenewBuy, you will get an option of comparing policies offered by different companies at one platform.

Become Insurance Agent

What does an insurance agent do?

Before we explore further on how to become an insurance agent/POS, it is important to understand exactly what the job of an insurance agent entails. An insurance agent is someone who is associated with an insurance company or with an Insurance Aggregator; who helps to sell insurance products to the customers. An insurance agent helps people to choose and buy the right kind of insurance as per their requirements. An insurance advisor/agent deals in various types of insurance: motor insurance, health insurance, travel insurance, life insurance, general insurance, home insurance etc.

Becoming a POS (Insurance Agent) means selling insurance to individuals as well as to families, probably to the knows personally like friends, family and relatives. Insurance Advisors can also sell products to the companies and businesses who need to buy multiple policies, group policies and so on. An insurance agent with a good networking skills as well as a sound head for sales and business can make a good amount of money while working flexible hours from home. Some agents are paid via commission on sales made (income would depend upon the number and value of policies sold). Agents who are employed by the insurance company are paid as salary plus bonuses at the time of achieving theirs sales targets. Some companies also provide clerical support or other resources to agents.

Who can be an Insurance Agent?

According to IRDAI guidelines, any individual who wants to become an insurance agent must fulfil the below mentioned criteria:

  1. An Insurance Agent/POS should have bachelor’s degree (graduate). However, in some cases, someone who has passed out of school but has significant talent and experience in sales may also be able to become an agent. Hence, being 12th pass is the minimum requirement for becoming an insurance agent.
  2. The documents required include proof of identity, requisite exam certificates, poof of address, PAN card copy, and photos in the prescribed format.
  3. To obtain a license to sell insurance, an individual has to undergo certain amount of training. The number of hours of training required depends upon the type of insurance the individual intends to deal in; for instance the duration of training for life insurance may be different from other types of insurance. The duration of training also differs depending upon whether the individual is seeking renewal of a license or applying for a fresh license. Some companies also offer on job training to their agents.

Benefits of Becoming RenewBuy Point Of Sale (Insurance Advisor)

We all know that the life of an insurance agent was not so easy earlier because he had to put lots of hard work to issue a single insurance policy. He/she had to visit insurance company’s office multiple times, in order to issue one policy. Now, RenewBuy has made POSP’s life so easy with its unique model of issuing policy without wasting their time in visiting insurance company’s offices. Once you become a POSP with RenewBuy, you need not to worry about the useless visits. All you need is a smartphone with an internet connection.

Becoming insurance agent with RenewBuy, your life will become so easy. Below are few benefits of becoming RenewBuy’s Agents:

Easy life

Once you become a POSP with RenewBuy, you will get the best policy as per the customers need in just few clicks, for which you have to do is:

  1. Open RenewBuy app in your smartphone,
  2. Enter customer’s details,
  3. Get quotes from different companies
  4. Choose best option according to the customer’s need
  5. Pay online
  6. Get policy

Multiple opportunities

RenewBuy is associated with so many insurance service providers which gives its POSP an opportunity to work for multiple insurance providers. He/she can also compare a policy offered by different insurance companies and sell according to the needs of the customers.

Extra Income

The easiest way to earn extra money without much efforts is become a PSOP with RenewBuy and you will earn as much as extra money you want to.

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