How to Become an Insurance PoSP in India: Complete Guide

Introduction

Are you looking to become an insurance PoSP and start a rewarding career in the insurance industry?

Point of Salesperson (PoSP) is one of the fastest-growing opportunities in India’s insurance sector, offering flexibility, good earning potential, and minimal investment. Whether you’re a student, working professional, or homemaker, becoming a POSP allows you to sell insurance policies and earn attractive commissions.

This guide walks you through the complete process, from eligibility criteria to clearing the PoSP insurance advisor exam, helping you kickstart your insurance career with confidence through Probus Insurance Broker.

Key Takeaways

✓ PoSP certification allows you to sell insurance products and earn commissions with minimal investment and flexible working hours.

✓ The PoSP insurance advisor exam requires 15 hours of training and clearing a simple online test with basic insurance knowledge.

✓ You can earn attractive commissions on policies sold, with opportunities for passive income through renewals.

What is a PoSP in Insurance?

Point of Salesperson (PoSP) is an entry-level insurance distribution channel authorized by the Insurance Regulatory and Development Authority of India (IRDAI).

A PoSP acts as an intermediary between insurance brokers and customers, helping individuals find suitable insurance policies. Unlike traditional insurance distribution channels that require extensive training and higher qualifications, PoSPs need only basic educational qualifications and shorter training periods.

This makes it an accessible career option for people from diverse backgrounds. PoSPs can sell various insurance products including:

• Health Insurance
• Life Insurance 
• Motor Insurance
• Marine Insurance
• Travel Insurance
• Group Insurance
• Engineering Insurance
• Specialised Products (Surety Bonds, Trade Credit, etc)
• Rural Insurance (Crop and Cattle)
• And many more …

Through digital platforms and physical interactions, PoSPs connect customers with the right insurance solutions while earning commissions on every policy sold.

Eligibility Criteria to Become an Insurance PoSP

Educational Qualifications

To become an insurance PoSP, you need to have passed at least Class 10th from a recognized board.

This minimal educational requirement makes it accessible to a wide range of candidates across India. There are no complex degree requirements or specialized qualifications needed to start your PoSP journey.

Age Requirements

Candidates must be at least 18 years old to apply for PoSP certification.

There is no upper age limit, making it an ideal opportunity for:

• Young professionals starting their careers
• Retirees seeking flexible income options
• Homemakers looking for work-from-home opportunities
• Career changers exploring new paths

Additional Requirements

You should have the following documents ready:

Basic skills required:

• Good communication abilities
• Knowledge of local languages
• Customer-friendly approach
• Basic digital literacy

These skills help in explaining insurance products to potential customers effectively and building long-term relationships.

Step-by-Step Process to Become an Insurance PoSP

Step 1: Choose an Insurance Broker

Start by selecting a reputable insurance broker like Probus Insurance Broker that offers PoSP partnerships.

Research different brokers and compare:

• Commission structures
• Product portfolios
• Training support systems
• Digital platform quality
• Ongoing assistance programs

Probus Insurance Broker provides comprehensive support throughout your PoSP journey, from training to certification and beyond.

Step 2: Complete PoSP Training

Once you partner with Probus Insurance Broker, you must undergo 15 hours of mandatory training.

This training covers:

• ✓ Insurance basics and fundamentals
• ✓ Product knowledge across categories
• ✓ Regulatory guidelines and compliance
• ✓ Sales techniques and customer engagement
• ✓ Digital tools and platforms

Probus Insurance Broker offers convenient online training modules through their training repository, making it easy to complete from the comfort of your home. The flexible training schedule allows you to learn at your own pace.

Step 3: Clear the PoSP Insurance Advisor Exam

After completing training, you need to pass the PoSP insurance advisor exam.

Exam Format:

• 50 multiple-choice questions
• 60 minutes duration
• 50% passing score (25 correct answers)
• Online examination

The exam covers:

• Insurance fundamentals
• Regulatory guidelines
• Product knowledge across categories
• Customer service principles
• Ethical selling practices

Probus Insurance Broker manages the entire examination process, ensuring you have all the resources and support needed to succeed. Results are typically available within a few days of completing the exam.

Step 4: Get Your PoSP Certificate

Upon passing the exam, Probus Insurance Broker facilitates your PoSP certification.

This certificate is valid for three years and must be renewed by completing refresher training and passing the renewal exam. Throughout this process, Probus Insurance Broker handles all administrative requirements and certification procedures on your behalf.

Step 5: Start Selling Insurance Policies

Once certified, you can begin selling insurance policies immediately.

Probus Insurance Broker provides:

• Digital platforms for seamless operations
• Marketing materials to attract customers
• CRM tools to manage leads efficiently
• Product catalogues across multiple categories
• Ongoing support for queries and assistance

You’ll earn commissions on every policy sold through Probus Insurance Broker’s platform, along with renewal commissions that create passive income streams.

Benefits of Becoming an Insurance PoSP

Flexible Working Hours

As a PoSP, you enjoy complete flexibility in choosing when and where to work.

Whether you want to work full-time or part-time alongside your existing job, you can manage your schedule according to your convenience. This flexibility allows you to:

• Balance personal commitments
• Work from home or anywhere
• Set your own targets and goals
• Take breaks when needed

The work-from-home model means you can serve customers across India without geographical limitations.

Low Investment and Quick Start

Unlike starting a traditional business, becoming a PoSP requires minimal investment.

Investment breakdown:

You can start earning within a few weeks of completing your certification without worrying about infrastructure or inventory costs. Probus Insurance Broker handles the administrative overhead, allowing you to focus on sales.

Attractive Commission Structure

PoSPs earn competitive commissions that vary depending on the insurance product type.

Commission structure:

• Life Insurance: Higher commission rates
• Health Insurance: Regular renewal income
• Motor Insurance: Consistent earning opportunities
• Travel Insurance: Quick turnaround commissions

For example, selling a health insurance policy or term insurance plan through Probus Insurance Broker earns you attractive first-year commissions.

You also earn renewal commissions, creating a passive income stream that grows as your customer portfolio expands.

Career Growth Opportunities

Starting as a PoSP opens doors to advanced insurance careers.

Career progression timeline:

Year 1-2: PoSP → Build customer base, gain experience

Year 2-3: Senior PoSP → Mentor new PoSPs, expand portfolio  

Year 3+: Leadership roles → Team management, business development

With experience through Probus Insurance Broker, you can:

• Advance to senior PoSP positions
• Move into team leadership roles
• Explore business development opportunities
• Build expertise in specialized insurance segments

Many successful insurance professionals started their journey as PoSPs with Probus Insurance Broker.

PoSP Insurance Advisor Exam: What You Need to Know

Exam Format and Structure

The PoSP insurance advisor exam is an online test consisting of 50 objective-type questions.

Exam specifications:

The questions are divided into sections covering:

• Life insurance fundamentals
• General insurance concepts
• Health insurance basics
• Regulatory compliance aspects
• Customer service principles

Syllabus and Preparation Tips

The exam syllabus includes fundamental concepts that Probus Insurance Broker covers comprehensively in their training program.

Key topics covered:

✓ Insurance Fundamentals

• Risk management principles
• Premium calculation basics
• Policy terms and conditions
• Claim procedures

✓ Product Knowledge

• Life insurance products
• Health insurance plans
• Motor insurance policies
• Travel and specialty insurance

✓ Regulatory Guidelines

• IRDAI regulations
• Ethical selling practices
• Customer protection norms
• Compliance requirements

Preparation strategy:

1. Complete all training modules thoroughly
2. Practice with sample papers provided by Probus Insurance Broker
3. Review previous year questions
4. Focus on understanding concepts, not memorization
5. Take mock tests to assess readiness

Probus Insurance Broker provides comprehensive study materials and practice resources to ensure your success.

Passing Criteria and Results

To clear the exam, you need to score at least 50% marks (25 out of 50 questions correct).

Results are usually declared within 7-10 days of the exam. If you don’t pass on your first attempt, Probus Insurance Broker provides additional support and guidance to help you succeed in subsequent attempts after a waiting period of 15 days.

The certification process through Probus Insurance Broker ensures you’re well-prepared and confident before appearing for the examination.

Common Challenges and How to Overcome Them

Building Initial Trust

New PoSPs often face challenges in gaining customer trust during their early days.

Strategies to build credibility:

→ Start with your immediate circle – family, friends, and colleagues who already trust you

→ Focus on understanding customer needs rather than pushing products aggressively

→ Provide genuine advice based on their requirements and budget

→ Build your reputation through honest service and timely follow-ups

→ Leverage the credibility of Probus Insurance Broker in customer conversations

As you build a portfolio of satisfied customers, referrals will naturally increase, making it easier to acquire new business.

Product Knowledge Gaps

While training covers basics, real-world scenarios often require deeper product understanding.

Continuous learning approach:

• Attend regular training sessions offered by Probus Insurance Broker
• Participate in webinars and product update sessions
• Read policy documents thoroughly for better clarity
• Stay updated on new product launches through the Probus platform
• Connect with experienced POSPs for insights and tips

Probus Insurance Broker provides ongoing training resources and support to help you stay current with industry developments and product innovations.

Managing Rejections

Sales involve rejections, which can be discouraging initially for new PoSPs.

Handling rejection effectively:

✓ Remember that every “no” brings you closer to a “yes”

✓ Maintain a positive attitude and don’t take rejections personally

✓ Learn from unsuccessful pitches and improve your approach

✓ Focus on helping customers rather than just selling

✓ Track your conversion ratios and identify improvement areas

The support system at Probus Insurance Broker includes mentorship and guidance to help you navigate challenges and improve your success rate over time.

Conclusion

Becoming an insurance PoSP offers an excellent opportunity to start a flexible, rewarding career with minimal investment and attractive earning potential.

With just Class 10th education, 15 hours of training, and clearing the POSP insurance advisor exam, you can become an insurance PoSP and begin your journey in India’s growing insurance sector through Probus Insurance Broker.

Whether you’re seeking a full-time career or a side income, PoSP certification provides the credentials and support to succeed. The comprehensive training, digital tools, and ongoing assistance from Probus Insurance Broker ensure you have everything needed to thrive in this dynamic field.

Take the first step today by partnering with Probus Insurance Broker and exploring this promising career path!

Ready to start your insurance career? Explore PoSP opportunities and begin earning with flexible working hours and attractive commissions through Probus Insurance Broker’s trusted platform.