In India, the insurance sector continues to grow, presenting ample opportunities for individuals seeking a dynamic profession. If you’re considering becoming an insurance agent in India in 2024, you’re stepping into a world where your efforts can make a tangible difference in people’s lives. 

But where do you begin, and what steps are essential to reaching your goal successfully?

Keep reading this article and learn all you need to know about becoming an insurance agent in India.

Who Are Insurance Agents and What Do They Do?

Insurance agents play a key role in the industry by acting as intermediaries between insurance companies and customers. Their primary responsibility is to help individuals and businesses understand their insurance needs and recommend suitable products based on their assessment. 

Here’s what insurance agents generally do:

Assessing Needs

Insurance agents evaluate their clients’ financial situations, risk profiles, and requirements. Based on this study, they recommend appropriate coverage solutions to their clients.

Educating Clients

They educate their clients on various products and explain about the features, benefits, and insurance terms so that the client can make a knowledgeable choice. 

Selling Policies

By guiding customers with application completion, outlining prices and coverage specifics, and ensuring all required documentation is in order, they help customers obtain insurance products.

Providing Support

Even after policies are sold, insurance agents continue to provide ongoing support to clients. They help them with policy renewals, claim processing, and addressing any concerns or queries that arise.

Benefits of Becoming an Insurance Agent in India

Becoming an insurance agent in India offers numerous professional and personal benefits. Here are some reasons why you should consider this career path:

Flexibility

When you become an insurance agent online, you get the flexibility to set your schedule and work independently. This will allow you to balance your work with personal commitments.

Income Potential

You will have the opportunity to earn a competitive income through commissions and bonuses based on the policies you sell. With dedication and hard work, your earning potential can be virtually limitless.

Career Growth

The insurance industry offers plenty of opportunities for people seeking career advancement and growth. If you advance successfully, you can progress to managerial roles or specialise in niche areas of insurance.

Helping Others

By helping clients protect their assets, health, and financial well-being, you make a positive impact on people’s lives. You feel a sense of fulfilment knowing that you’re helping individuals and families secure their futures.

Training and Support

Insurance companies provide comprehensive training and ongoing support to their agents. You can get a chance to gain the knowledge, skills, and resources needed to succeed in the industry.

Can You Become an Insurance Agent in India?

Yes, you can become an agent in India, but there are certain eligibility requirements you must meet to qualify for this role. Here’s what you need to know:

Age and Educational Qualifications

To become an insurance agent online, you must be at least 18 years old and have completed secondary education (10th standard) from a recognised board.

Training

You are required to undergo pre-licensing training from the Insurance Regulatory and Development Authority of India (IRDAI). This training will cover various aspects of insurance products, regulations, and sales techniques.

Examination

After completing the training, you need to pass the IRDAI licensing examination to get your insurance agent license. The exam will assess your knowledge of insurance concepts and regulations.

Character Requirements

You must have good character and reputation, with no criminal record or history of financial irregularities, as it will reflect badly on your profile.

How to Apply and Become an Agent with Niva Bupa?

If you’re keen on joining the insurance industry as an agent, Niva Bupa is a great opportunity to kickstart your career. Here’s how you can apply and become an agent with Niva Bupa:

Meet the Eligibility Requirements

Check if you meet the basic eligibility requirements of the brand to become an agent with them. For this, you must be 18 years of age or older, qualified 10th standard, and hold valid documentation.

Complete Pre-Licensing Training

You may need to enrol in a pre-licensing training programme, POSP (Point of Sale Person), approved by IRDAI. Niva Bupa will offer training resources or recommend reputed training institutions to help you prepare for the licensing exam.

Pass the IRDAI Licensing Examination

Study diligently and pass the IRDAI licensing examination to obtain your insurance agent license. This license will authorise you to sell Niva Bupa’s insurance products to clients.

Apply to Become an Agent

Once you’ve received your license, submit an application to Niva Bupa expressing your interest in becoming an agent. Highlight your qualifications, skills, and passion for the insurance industry.

Training and Onboarding

If your application is successful, Niva Bupa will provide you with complete training and support to kickstart your career as an insurance agent. You’ll receive guidance on sales techniques, product knowledge, and customer service best practices.

Way Forward

Becoming an insurance agent in India offers numerous personal and professional growth opportunities. It is imperative that you start your journey with a reputable partner like Niva Bupa. This leading insurance company is committed to empowering its agents and serving customers with excellence. Niva Bupa offers comprehensive training, competitive compensation, and a wide range of insurance products, including corporate health insurance and family health plans. They provide aspiring agents with the tools and support they need to thrive in the industry.