How to Become Insurance Agent in Chennai

POSP, also known as point of sales person, is a name given to insurance agents who work for insurance providers. The POSP insurance agent sells the insurance company's pre-written insurance product to customers.

These are specialised individuals who have passed the online exam for insurance agents conducted by the insurance company. They are authorised to sell a variety of insurance products, such as health insurance, car insurance, bike insurance and more.

However, to become a POSP insurance agent in Chennai, individuals need to meet the eligibility criteria set by the Insurance Regulatory and Development Authority of India. Moreover, POSPs can work for a single insurer at a time.

An individual insurance agent is a specialised insurance agent who can sell pre-written insurance, which are standard plans offered by the insurance provider, and tailored insurance plans, which are customised to meet the specific needs of the customer.

These specialised professionals play a crucial role in the insurance industry, as they can sell customers customised insurance plans based on their needs. However, after completing training, applicants need to pass the examination conducted by the IRDAI to become individual insurance agents.

These professionals can work with one life insurance company, one general insurance company, and one standalone health insurance (SAHI) at a time.

An individual insurance agent can offer a diverse range of plans to customers, catering to various needs. These include motor insurance, health insurance, marine insurance, fire insurance, and more, providing a comprehensive array of options.

Aspiring insurance agents in Chennai who choose to work with TATA AIG can enjoy a host of benefits that make this career path even more appealing.

-Flexible Timings

One of the key benefits of becoming an insurance agent in Chennai is the flexibility it offers. Unlike a traditional job, you are not bound by a strict schedule. You can work according to your availability and preferences, giving you more control over your work-life balance.

-High Income

Becoming an insurance agent is a great way to boost your earnings. With the potential to earn a stable secondary income, you can significantly increase your financial resources.

The more insurance you sell, the more you can earn, making it an exciting opportunity for financial growth.

-Zero Investment

To become an insurance agent, you do not have to make any financial investment. You can become an insurance agent as long as you are 10th pass and 18 years old. Individuals only need to invest their time and effort to become successful agents.

Before embarking on the journey to become a POSP and individual insurance agent in Chennai, it is important to understand the eligibility criteria that need to be met.

-General Eligibility Requirements

-Minimum Age: The minimum age to become a POSP and individual insurance agent in Chennai is 18 years of age.

-Educational Qualification for Insurance Agent: To become a POSP and individual insurance agent in Chennai, the applicant's minimum qualification is 10th grade.

-Compulsory Training: Another requirement applicants need to complete to become a POSP agent in Chennai is to complete certification of the training course which is generally of 15 hours. However, an individual insurance agent needs to complete the mandatory training of 25 hours.

-IRDA Exam for Insurance Agent: Applicants also need to qualify the insurance agent test approved by the IRDAI for becoming an individual insurance agent. However, for a POSP agent you need to complete the online assessment organised by the insurance company.

To become an individual insurance agent, you need to get at least 15% in the exam. However, POSPs do not have any set limit.

-Professional Experience: It is preferable to have professional experience in the finance industry; however, this is not mandatory.

To become an insurance agent in Chennai, applicants need to submit the following documents:

• Recent coloured photographs

• Copy of PAN card

• Address proof such as Aadhar card, utility bill, passport, etc

• 10th class mark sheet

• A cancelled cheque

To become an insurance agent in Chennai with TATA AIG, you need to follow the below-mentioned steps:

-Step 1: Online Registration Process

The first step to becoming a general insurance agent in Chennai with TATA AIG is to visit the official website and click on the agent registration page.

Fill out the necessary details accurately, such as name, email address, etc. and click on the “Proceed” button.

-Step 2: Complete the Training Program

After completing the registration process, undergo the mandatory training program. The compulsory training module helps applicants understand insurance concepts such as the type of policies, the IRDAI regulations to follow, the insurance process and more.

This 15-hour training program can be completed online for POSP agents. However, individual agent applicants need to finish the 25-hour training. After completing the training, applicants must take the insurance agent test.

-Step 3: Obtain the Insurance Agent Licence

Once you have qualified the IRDAI exam for individual insurance agents, you will get the licence from IRDAI. Furthermore, for a POSP agent, you need to pass the TATA AIG online assessment.

-Step 4: Start Selling Insurance Products

After obtaining an insurance agent licence, you are authorised to sell various insurance products from TATA AIG to customers.

Along with the licence, you can focus on acquiring various other skills, such as better communication skills, people skills, etc, to become a successful insurance agent in the market.

Anybody who is above 18 years of age and has passed the 10th class examination can become an insurance agent in Chennai. It is a great way to earn money. Some of the individuals that can become an insurance agent in Chennai are:

-Homemakers

Being a homemaker is already a full-time job, but a lot of times, women want to explore work opportunities along with taking care of their families.

For such women who have some spare time on their hands and want to be financially independent, they can definitely try becoming an insurance agent.

This will help them contribute to family finances and also not affect their family responsibilities and duties.

-College Students

College students can also become insurance agents in Chennai. Students usually wish to earn money to manage finances and start being independent while also not affecting their studies.

Being an insurance agent is a good option for them, as they can earn money while also focusing on their college life.

-Retired and Elderly

Elderly or retired individuals generally look for ways to keep themselves occupied fruitfully in their golden years. Being an insurance agent will give their lives a purpose and keep them occupied.

They do not have to invest many hours like they do in a regular job. Plus, it also helps them earn money and not be financially dependent on anyone.

-Business Person

Sales people, business people and self-employed individuals who have full-time jobs but are looking for a way to maximise their income can also try to become insurance agents in Chennai.

Being an insurance agent is a good way to earn a second income in addition to your regular income. It also helps you build connections that may help you in your future endeavours.

Becoming a POSP and individual insurance agent in Chennai with TATA AIG will have the following benefits:

• TATA AIG is a reputed insurance provider with over 20 years of experience in the field, so you will be securing your customers with the most trusted insurance provider.

• We at TATA AIG offer learning opportunities to all our insurance agents so they can grow and enhance their skills. We have a TATA AIG Academy from where insurance agents can upskill themselves.

• Further, at TATA AIG, the insurance agent’s hard work does not go in vain. We value your efforts, and that is why we offer a great earning opportunity with recognition for all the hard work.

• We have an in-house claim management team that will assist with claim servicing so that your customer does not have to suffer in case of any query or doubt regarding the claim process.

• We offer a culture of long-term association, so you do not have to worry about your association with us.

• We also offer bonus or incentive programs to encourage our insurance agents to work even harder.

The income of an insurance agent may vary depending on their work and selling skills. The insurance company generally has a commission-based system for its insurance products.

The agent will earn the commission when they successfully onboard the customers. This means that when they sell insurance policies to the customers, they are eligible to earn the decided commission. The more insurance policies the agent sells, the more commission they will earn.

Becoming an insurance agent in Chennai is a great way to earn money. With the rising demand for insurance policies, people are looking for insurance agents who can help them buy better insurance policies.

Anyone can become a general insurance agent in Chennai as long as they are 18 years old and have passed the 10th class. However, to be a successful insurance agent, you need to pass the IRDAI exam and acquire a licence. Further, you also need to upgrade your skills from time to time.

TATA AIG is a renowned insurance provider that allows you to become an insurance agent and offer opportunities to make a difference in people’s lives. To become an insurance agent, carry out the registration process now.