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PoSP Download app |
Agent |
| Training |
15 hours
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25 hours
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| Examination |
Conducted by the insurer
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Conducted by IRDAI
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| What can they sell? |
A POSP can sell simple, transparent insurance plans which provide complete protection and tax benefits. They sell products that are pre-underwritten and specifically approved by IRDAI for solicitation through POSP. These products are pretty basic, so they come with clear and straight fixed benefits and do not need elaborate explanations for the customer. A PoSP cannot sell complicated or high-risk products.
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An agent can sell all approved products whether pre-underwritten or tailor-made for their customers. They can help their prospects customise policies to meet their exact needs, and advice clients on policy matters. They can sell complicated as well as high-risk products.
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| What type of customer base
do they target? |
A PoSP primarily caters to the customers looking for simple and basic insurance policies. For e.g., car insurance/two-wheeler insurance policies, comprehensive health policies, etc.
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An agent caters to all customers whether looking for simple or complex and customised insurance solutions - for e.g. marine insurance.
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| Which type of products can
they sell? |
A PoSP can sell policies like motor, health, personal accident etc., which are mainly pre-underwritten products. Based on the information provided by the prospect, the insurance policy is automatically generated by the system.
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An agent can sell motor, health, travel, personal accident etc. as well as customised products like fire, marine and similar business insurance products. They can also sell high sum insured options in the pre-underwritten products.
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| What is the validity of the
certification? |
The certification is valid for 3 years.
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The certification is valid until the individual
surrenders the agency.
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