How to Become Bike Insurance Agent

If you are looking to build a successful career, you can join TATA AIG’s network of 1,00,000+ insurance agents in the country. It is an opportunity for people from all walks of life to earn a high income without leaving their jobs or professions.

You can join us as a two-wheeler insurance agent and earn while guiding people to choose the right insurance product. The entire process is simple and involves only a few steps, after which you can start your journey as an insurance agent.

All you have to do is register yourself on the portal and attend the training program. Thereafter, appear for the exam, and you will be good to go!

Having an extra income supports individuals to fight the increasing inflation in the country. TATA AIG provides an opportunity for individuals from all backgrounds to become two-wheeler insurance agents. Apart from earning an extra income, one can enjoy the following benefits:

No Investment Needed- To become an insurance agent with TATA AIG is free of cost and does not require you to invest any money. It is a free opportunity to start your side income while helping people buy bike insurance.

Flexible Work- Choosing to become an insurance agent means choosing flexibility. At TATA AIG, you can enjoy flexible work hours and work as per your preferred hours, you can work at your own pace and from your preferred environment.

Earn a High Income- Bike insurance is in high demand in India, which means you can leverage this opportunity to earn a high income. The income potential is high, so the more you sell, the more you earn.

Excellent Support- TATA AIG provides extensive support to insurance agents, ensuring they receive the desired assistance. Whether it is insurance training or agent support, we offer all the materials and tools to make you a successful agent. You can also receive training and guidance from industry expert insurance agents to enhance and polish your professional capabilities.

All-Round Training- Those aspiring to become bike insurance agents get comprehensive training from expert, experienced and successful insurance agents. It allows potential candidates to develop their skills and enhance their knowledge of the product and industry.

No Hierarchy- Being an insurance agent allows you to work independently without any hierarchy involved. You are your own boss and can work in your preferred manner, time, place and pace without reporting to anybody.

Competitive Advantage- TATA AIG is among the most reliable insurance companies in India. It has a positive brand image and strong presence, which puts the insurance agents in an advantageous position. Since you collaborate with a well-known and trusted company, you can leverage the benefits and build a strong and wide customer base.

Trustworthy Brand- TATA AIG insurance products are trusted by millions of citizens in the country. Whether it is assets or property, TATA AIG has built a positive reputation among the masses through its insurance products.

When it comes to bike insurance products, TATA AIG offers various options to suit people's requirements. As an insurance agent, you must know about their products as it will help you educate potential clients about them.

Stand-Alone/Own Damage Bike Insurance Plan

TATA AIG offers a stand-alone bike insurance plan which protects the insured two-wheeler against numerous incidents. A stand-alone or own damage plan offers financial assistance in case of accident, theft, fire, explosion, natural and man-made calamities, etc.

Features:

• Affordable premium

• Coverage for own vehicle only

• Best for new bikes

• Recommended for young drivers

• Protects against multiple events and calamities

Comprehensive Bike Insurance Plan

Those looking for broader coverage must opt for the TATA AIG comprehensive bike insurance plan. It offers own damage cover as well as third-party liability cover. Thus, you can receive compensation if the insured vehicle is damaged due to an accident, theft, natural calamities, riots, etc. Moreover, you will also receive coverage if a third-party life, asset, or property is damaged due to your vehicle.

Features:

• Higher premium

• Extensive coverage

• Recommended for new bike owners

• Comes with add-on options

• Consist of compulsory personal accident cover.

Third-Party Bike Insurance Plan

A third-party bike insurance plan is mandatory as per the Motor Vehicles Act. TATA AIG offers this insurance plan, safeguarding you against third-party liabilities. The rate for third-party bike insurance plans varies according to the cubic capacity of the bike and is fixed by the IRDAI.

Features:

• Limited coverage

• Low premium

• Ideal for old vehicles

• Does not provide own damage cover

• Mandatory insurance

Other Insurance Products

TATA AIG provides diverse insurance products catering to the requirements of different sectors. Apart from bike insurance, you can purchase the following categories of insurance products.

Business Insurance: Marine cargo, fire and burglary, workmen insurance, group health insurance, and marine open insurance.

Travel Insurance: Domestic insurance, international insurance and student travel insurance.

Motor Insurance: Car insurance, commercial vehicle insurance, Auto Rickshaw insurance.

Health Insurance: TATA AIG Eldercare, Medicare Plus Super Top Up.

While the process to become a bike insurance agent is simple, there are some basic eligibility criteria that a candidate must meet. If you meet the basic eligibility criteria, you are eligible to become an agent. Moreover, if you possess the preferred qualities, it will allow you to build a successful insurance career.

Basic Eligibility Requirements

The IRDAI requires every aspiring individual to meet the following basic eligibility criteria to qualify as a two-wheeler insurance agent.

Minimum Age: An individual who wants to become an insurance agent must be at least 18 years old. There is no upper limit on the age criteria, which means that any individual above 18 years is eligible to become an insurance agent.

Academic Qualification: On the academic front, one must have completed their 10th-grade qualification. However, any higher qualification, such as 12th -grade or degree, is an added advantage.

Preferred Eligibility Criteria

Good Learner: Being a good learner lays the foundation for a successful insurance career. Since insurance products contain critical features, terms, and policies, they help an individual grasp the essential information and pass it on to the clients.

Skillful Communicator: An individual who is a good communicator is able to connect with potential clients skillfully. He is in a better position to explain the insurance products positively and guide the customers in choosing the right insurance plan.

Listening Ability: To sell an insurance product, an agent must be able to listen to the customer, understand the requirements, and make suggestions accordingly. If you are a good listener, the customer will feel free to convey their needs and the kind of policy they are looking for.

Customer-Centric: Having a customer-centric approach is one of the finest qualities of an insurance agent. A successful insurance agent puts customer satisfaction and benefit before his own, which leads him to the path of success.

Comparison Basis	Individual Agents	POSP
Customer Base	They deal with customers who want customised insurance products for specific requirements.	A POSP caters to customers who want a basic and pre-written insurance product
Types of Products	Individual agents sell products such as marine insurance, personal accident policies, health insurance, etc.	A POSP sells simple products, such as motor insurance, personal insurance, travel insurance, etc.
Training Duration	An individual must undergo extensive training for 25 hours.	A POSP requires 15 hours of training to become an agent.
Licence Validity	Their licence is valid till they surrender it.	Their licence is valid for a period of three years
Mode of Examination	Individuals must appear for the examination at an authorised exam centre to become insurance agents.	To become a POSP one must appear for an online examination.

Becoming a TATA AIG insurance agent requires you to follow a simple procedure involving only 4 steps. By completing these steps, you can open the path towards a rewarding career.

Step-by-Step Guide to Becoming an Agent

Two Wheeler Insurance Agent Registration: The first step to becoming an insurance agent is to register yourself with TATA AIG using the agent registration form. Make sure to provide all the personal information correctly and fill out all the required fields.

After you have done the bike insurance agent apply online, our sales team will approach and guide you for generating the application and to upload the necessary documents, such as an Aadhar card, PAN card, academic certificates, and so on.

Complete the Training: All aspiring insurance agent candidates must compulsorily undergo training with the insurance company as per the IRDAI regulations. TATA AIG offers extensive training, equipping you with all the knowledge and skills required in the insurance landscape.

Examination: The next step is the insurance examination, which aims to test your insurance knowledge. It is necessary for the candidates to pass the examination by scoring the minimum marks as required by the IRDAI.

Sell Bike Insurance: Once you have completed the steps mentioned above, you are eligible to work with TATA AIG as a two-wheeler insurance agent and sell policies.

Registration Process: This is the most important and basic step in the insurance agent process. You must fill out the form and complete the registration process, which can be completed in 10-20 minutes. Once you have registered, our local sales team will take you through the application generation and other processes.

Training Program: The training program for a bike insurance agent is a mandatory requirement that all aspiring agents must complete. It may be completed over a few days, as specified by the IRDAI. An approximate time period to complete the training may be between one to two weeks.

Examination: The insurance agent examination is conducted periodically throughout the year.

Obtaining the Licence: After clearing the exam, one must apply for an agent licence. Once you apply for the licence, it can take one to two weeks to get it.

About TATA AIG

TATA AIG, a joint venture between TATA Group and American International Group (AIG), is among the top insurance companies in India, offering a diverse range of risk solutions to customers. We have achieved a high claim settlement ratio, which leads millions of customers throughout India to choose us for all their insurance needs.

Our operations in India began in 2001 with a vision to achieve leadership in the insurance industry through customer care and efficient risk solutions. We have completed a journey of 24 years working towards a mission of delivering unique risk solutions to customers for their peace of mind.

We are driven by core values, which include people, empathy, passion, integrity, performance and customer first. We abide by these values at all times, ensuring customer satisfaction. Over the years, we have broadened the product horizon to include health insurance, motor insurance, travel insurance, home insurance and more.

Awards and Recognitions

Our commitment to deliver the best risk solution is evident from the awards and recognitions. Some of them are:

• DivHersity Awards 2024 for top 3 companies by Industry Banking/Financial Services/Insurance

• Institute of Directors’s (IODs) Golden Peacock National Award for CSR, 2023

• Best AI technology Implementation of the year

• Best Innovation in User Experience Award

• Best use of AI-General Insurance at BFSILeadership 2024 by Krypton Group

• Banking Frontiers InsureNext Awards 2024 for Best Customer Experience Initiative

Benefits for Experienced Agents

- Quick Onboarding: A major benefit for experienced insurance agents joining TATA AIG is that they can get a quick onboarding as they have completed the initial formalities in the past and are aware of the insurance landscape. Thus, they do not require any training and can start selling the products immediately.

- High-Income Potential: Experienced insurance agents have the required product knowledge and experience. It allows them to earn a high commission as they are capable of selling the products efficiently.

Opportunities for Fresher Agents

- Professional Training: First-time insurance agents collaborating with TATA AIG have the opportunity to receive professional training from experienced and successful insurance agents from the industry. It allows them to enhance their skills and product knowledge, preparing them to sell products to the customer.

- Opportunity to Learn: TATA AIG offers an excellent learning experience to agents who have just stepped into the insurance industry. Our training programs are carefully curated to include all the essential aspects of insurance, which enables the agents to equip themselves with the best knowledge.