If you are looking for a stable career with unmatched flexibility and no income limit, then it’s wise to become a Chola MS general insurance agent. Chola MS offers a wide range of insurance products for both individuals and businesses. These include Motor Insurance, Health Insurance, Property Insurance, Accident Insurance, Engineering Insurance, Liability Insurance, Marine Insurance, Travel Insurance, and Crop Insurance. In the financial year 2022-23, Chola MS achieved a Gross Written Premium (GWP) of INR 61,560 million. The company operates through 195 branches and has a network of over 30,000 intermediaries nationwide.
When you become a Chola MS General Insurance Agent, your primary goal is to assist customers in selecting insurance policies that meet their specific needs. From selling insurance policies to claim support, you will perform a wide range of activities that ultimately benefit both customers and the company.
Read on to learn more about the eligibility criteria, benefits, and steps to become a Chola MS general insurance agent.
Eligibility Criteria to Become a Chola MS General Insurance Agent
Here is a list of the criteria you must follow to become a certified general insurance agent with Chola MS.
- Age Requirement
An individual must be 18 years old to qualify for the position.
- Education Qualification
An individual should have cleared at least Class 10.
- ID Proofs
An individual should be a citizen of India and must possess a valid Aadhaar Card and PAN Card.
- Mandatory Training
After meeting the above requirements, you will need to complete a compulsory 15-hour training course specified by the Insurance Regulatory and Development Authority of India (IRDAI).
Why Become a General Insurance Agent With Chola MS General Insurance?
Listed below are the reasons to become a Chola MS General Insurance agent.
- No Middlemen Involved
One of the key reasons to become a certified insurance agent is that you will have the opportunity to work directly with the company. There are no middlemen involved, which means you can establish a direct connection with Chola MS. It’s worth noting that Chola MS is currently the fastest-growing insurance company in India, with a strong workforce of over 52,408 employees and 1,309 branches across the country. Working with Chola MS can provide a significant boost to your career in the long run. The company’s extensive market presence and large customer base can also help you earn a good income.
- Zero Investment
Another major benefit of becoming a Chola MS General Insurance Agent is that there is no financial investment required. You don’t need to spend any money upfront. Instead, you only need to invest your valuable time and effort into expanding your network. Contrary to popular belief, you don’t need to set up an office or hire staff to become a successful insurance agent. The agency business primarily relies on direct sales, and all you need is a smartphone or a laptop to log cases online.
- Flexible Timings & Stable Income
One of the main reasons many people choose to become insurance agents, whether for car insurance or health insurance, is the flexibility it offers. You don’t have to work fixed 9-to-5 hours. Even a couple of 15-minute meetings with clients that result in conversions can make your day productive. Additionally, you can pursue this career alongside your current job or business. Another advantage is the stability of income. You earn a commission when a customer buys a policy from you and renews it through your services.
- Learn from Industry Experts
One of the major reasons to become a Chola MS general insurance agent is that you open yourself up to continuous professional and personal growth. Chola MS conducts regular training sessions led by industry professionals. These sessions can be held in-house or in the field. They also organize workshops and seminars to help you network with key figures in the industry. If you face challenges in converting leads or need assistance in helping your clients understand the products, Chola MS executives are always there to support you.
- Awards & Recognition
Last but not least, becoming a Chola MS general insurance agent means your performance is regularly reviewed to ensure you receive the recognition you deserve. Chola MS holds frequent contests where you have the chance to win trips to domestic and international destinations. The awards and recognition you receive for your performance enhance your reputation in the general insurance industry. You can leverage this recognition to boost your sales and improve your conversion rate with clients.
Steps to Become a Chola MS General Insurance Agent
If you want to become a Chola MS general insurance then the following are the tips you will need to follow.
- In the first step, you will need to go to the official website of the Chola MS. Once you’re on their website, find the contact information such as their toll-free number or email address.
- You can visit their “Contact Us” page and get the details to contact them using the provided information to express your interest in becoming a general insurance agent. Alternatively, you can also visit the nearest Chola MS branch in person.
- After that, during your conversation with Chola MS, they will provide you with all the necessary details and information about the process of becoming an agent.
- In the next step, Chola MS will require you to undergo a 15-hour training program. To maximize your learning, make sure you attend all the training sessions and actively participate.
- After completing the training, you will need to take and pass an examination administered by the Insurance Regulatory and Development Authority of India (IRDAI).
- Once you have successfully passed the examination, Chola MS will offer you an agreement to become a certified general insurance agent.
Frequently Asked Questions
Listed below are the frequently asked questions related to becoming a certified Chola MS general insurance agent.
Yes, it is necessary for the PAN Card holder and Bank Account holder to be the same. The commissions you earn as an insurance agent are subject to TDS (Tax Deducted at Source), and the TDS is credited to the Income Tax authorities based on your PAN Card details.
Yes, completing the training is mandatory to become a certified Chola MS General Insurance Agent. The training covers various topics such as insurance basics, types of policies, issuance and claims processes, rules, and regulations, among others.
When you partner with Chola MS, you will be assigned a relationship manager who will guide you and address any questions you may have regarding the policies sold through the Chola MS platform. Additionally, you can contact the customer support team by emailing them at customercare@cholams.murugappa.com for any assistance you may require.
Once you have registered with Chola MS, you can begin your training for the insurance exam. After successfully passing the exam, you will receive an eCertificate, and then you are ready to start selling insurance as an agent for Chola MS.
The certificate granted by the Insurance Regulatory and Development Authority of India (IRDAI) is valid for a duration of three years from the date of issue. After three years, you may need to renew your license to continue working as an insurance agent.
