Become A PoSP
Insurance Brokers

To increase insurance penetration in the country, the industry needs more distributors to travel the last mile. To achieve that goal, what's needed is a simple certification process for these distributors. So, to get such distributors on board quickly, the Insurance Regulatory and Development Authority of India (IRDAI) allowed for a new type of distributor, called the point of sale (POS) person. Given that these individuals have a lower qualification and training threshold, compared to other insurance distributors such as agents, brokers and corporate agents, IRDAI has allowed these individuals to sell only basic insurance products, which don't require a lot of underwriting.
As per the regulator, products such as motor insurance, travel insurance and personal accident insurance require very little underwriting as they are based on information provided by the prospect. Also, such insurance policies are automatically generated by the system.
Therefore, the intervention required for such products is minimal and the training and exams for such persons could be of a lesser degree than those for a full-fledged distributor. Infact, IRDAI had allowed the life insurance industry to use point of sale persons to sell life insurance products. For this, it identified products that are simple to understand, and in which the benefits are stated upfront and they are fixed and predefined.