How to Register for POSP Certification and Training

The Indian insurance sector is expanding rapidly, creating more opportunities for those seeking to embark on careers in finance and insurance services. In this regard, the easiest entry method to this industry is to be a certified Point of Sales Person (POSP). A POSP partner plays a significant role in linking customers to the right insurance coverage and assisting them in making informed financial choices.

However, to become a POSP partner, you need to complete the mandatory 15-hour POSP training and clear the POSP certification exam.  

Keep reading for a detailed guide!

What is POSP Training & Certification?

POSP (Point of Sales Person) Training & Certification is a 15-hour structured training and evaluation programme. In India, the Insurance Regulatory and Development Authority of India (IRDAI) has made it mandatory for aspiring insurance agents to undergo the POSP training and certification programme. 

This helps them develop the necessary knowledge, skills, and ethical standards to operate in the insurance industry. After completing the POSP certification, candidates will:

• Gain basic knowledge about insurance products and services

• Understand customer risk management

• Adhere to regulatory guidelines and compliance requirements

• Interact with customers in an ethical manner

• Offer insurance policies in accordance with customer needs

• Facilitate insurance transactions in a seamless manner

• Gain practical skills in sales communication, customer relationship management, and real-life situations faced by POSP partners

Step-by-Step Registration Process for POSP Certification

POSP partners can easily register online through their preferred insurance company's website. The process is as follows:

Step 1: Fill the Application Form

The candidate needs to visit the company's website and click on the option ‘Become a POSP’. Then they need to fill in the application form with details such as name, contact information, educational qualifications, PAN number, Aadhaar number, and bank details.

Step 2: Document Upload and KYC

Once the application form is submitted, candidates will be asked to upload the necessary documents for verification. After KYC, candidates are allowed to access the training portal or learning platform to begin the mandatory 15 hours of training.

Step 3: Training Initiation

The training is usually conducted online and can be delivered in multiple sessions at the learner’s convenience. This training is offered to help candidates pass the certification exam.

Step 4: Exam and Certification

The candidates will be eligible to take the POSP certification exam after completing the required training programme. Upon successfully clearing the exam, they will receive the POSP identification code along with a POSP certificate and will be registered on the Insurance Information Bureau (IIB) portal. 

Step 5: Contract Signing and Onboarding

Once the certification process has been completed, the candidates will be expected to sign a contract with the insurance firm or intermediary. In the onboarding phase, the newly recruited POSP partner will be informed about the product offerings, sales equipment, client management systems, and commission structure.

Step 6: Begin Selling Policies

Once the onboarding phase is complete, the newly appointed POSP partner can start selling the insurance policies. In the initial phase, the POSP partner generally starts with their family and friends and gradually builds a network through referrals. 

Career Opportunities After POSP Certification

After gaining POSP training and completing the certification, POSP partners can avail themselves of the following career opportunities:

1. POSP Partner for Life Insurance

Help customers understand and buy life insurance plans that provide financial security for families, support long-term goals, and protect their future.

2. General Insurance POSP

Meet customers who require health, motor, property, or travel insurance, and provide them with the best insurance plans tailored to their personal and business needs.

3. Insurance Sales Consultant/Advisor

Utilise your skills to help your customers choose the best insurance portfolio that aligns with their coverage needs.

4. Independent Insurance Professional

Make your own client base and become an independent insurance advisor or consultant. You can also sell multiple insurance products, helping you tap into various markets.  

5. Career Growth within Insurance Companies

Having gained experience, POSP partners may also seek employment in insurance companies within different departments, including agency management, customer relationships, or specialised insurance product distribution.

Conclusion

By gaining POSP training and the required certification, anyone who is above 18 and has completed at least Class 10 can become a POSP partner. It enables professionals to use their networking skills to build a client base and get paid on a commission basis. 

Wondering where to start?

Check out InsuranceDekho and begin your journey as a POSP partner!

 

FAQs about Step-by-step Registration for POSP Certification and Training

1. Is the training mandatory for the POSP partner?

Yes, the 15-hour POSP training is mandatory for aspiring partners. It is a prerequisite by the IRDAI and helps train professionals on insurance products, ethics, regulations, etc. 

2. What are the POSP training hours?

It is mandatory for the POSP partner to undergo at least 15 hours of training as required by the IRDAI and the sponsoring insurer or intermediary.

3. How can I apply for POSP registration online?

In order to apply for the POSP course online, candidates need to visit their preferred insurer’s website, click on “Become a POSP”, fill in the required details, and submit their application. 

4. What documents do you need for POSP registration?

Applicants typically need identity proof (passport, Aadhaar, or PAN), address proof, a minimum Class 10 educational certificate, a passport-size photograph, bank details, and a scanned signature.

5. Is the POSP certificate recognised across the country?

Yes, the POSP certificate is recognised across the country. Hence, partners can serve customers across multiple locations and build their own client base anywhere in the country.

6. Is the POSP training provided in regional languages?

Though the POSP training is mostly in English, there are many platforms where the training is conducted in regional languages as well.

7. Can a salaried person become a POSP partner?

Yes, a salaried person can become a POSP partner if the employment contract does not state that the individual cannot engage in other professional activities.