What is motor insurance? : A motor insurance agent is someone who sells a particular type of motor insurance product. insurance company works with. If you want to become a good and successful motor insurance agent or POSP, you have to help your customers choose the right motor insurance policy from all the insurance plans available as per their motor vehicle related needs.
Who is a motor insurance agent?
you from digit car, Bike (2-Wheeler) And commercial vehicle Can buy the policy.
What is motor insurance?
One motor insurance policy It can be used to cover a commercial vehicle like car, two-wheeler, auto or truck and is mandatory for all vehicles in India. It is very important for people to have this, so that they can be covered against loss and damage in case of accidents and natural calamities (floods, earthquakes, etc.).
There are broadly three types of motor insurance plans:
- Third-party motor insurance policy,
- Own Damage (OD) Motor Insurance Policy and
- Comprehensive (or standard) motor insurance policy.
- Motor Vehicle Act in India By It is mandatory to have third-party motor insurance, Failure to do so will make people liable for heavy fines. It protects the vehicle owner from any expenses incurred due to his car causing damage to any third-party vehicle, person or property.
- Own Damage (OD) Insurance Policy, Which is a customized motor insurance policy in which the vehicle owner protects himself and his vehicle from any kind of damage and loss.
- co-comprehensive motor insurance, Provides complete protection from both third-party damage and loss and own loss. It also includes protection against unexpected losses like accident, natural disaster, fire or theft.
Disclaimer – There is no special category for agents. If you register to become a general insurance agent, you can sell all types of general insurance products.
Some interesting facts about motor insurance industry in India:
Motor insurance in India accounts for 39.4% of the non-life insurance market.
The Indian car insurance sector is worth approximately ₹70,000 crore.
The car insurance industry has registered a growth of 11.3% since 2012.
Why become a motor insurance agent with Digit?
Find out more about why you should become a motor insurance agent and why you should choose Digit?
Work directly with Digit
As our POSP partner, you will work directly with us. There is no other middleman involved in this. Digit is one of the fastest growing insurance companies in India today. Digit is currently the youngest company to be awarded Asia’s “General Insurance Company of the Year 2019”.
It makes insurance easy
We believe in making insurance simple and that is why all our documents are so simple that even a 15 year old child can easily understand them.
Strong backend support
With technology as our core pillar, we provide you with a dedicated support team and an advanced web and mobile app that allows you to sell policies 24×7!
Its rating on Facebook is 4.8
We believe in keeping our customers satisfied and our Facebook rating is 4.8/5, the highest for any insurance company.
Super-fast growth
In such a short period of time, our market share has already reached more than 2% in the motor insurance sector (in the last quarter).
High Claim Settlement
Of all the claims that have come to us for private cars, we have settled up to 96% of the claims for all those private cars.
paperless process
From policy issuance to claim making, our entire process is completely online. You don’t have to do any paperwork. All you need is a smartphone/computer and an internet connection. So, now you can work from home or anywhere else.
Quick Commission Settlement
Don’t worry, we are with you. All our commissions are settled instantly. Your commission will be credited to your account every 15 days from the date of policy issuance.
How to become a motor insurance agent?
The easiest way to become a motor insurance agent is to complete the POSP certification. POSP is the name given to an insurance agent who can sell a particular type of insurance product.
To become a POSP, you only need to have the minimum education qualification (10th pass) prescribed by IRDAI and also undergo training (15 hours) provided by the insurance company. But there is nothing to worry about, Digit will take complete care of your training process.
What are the requirements and qualifications to become a motor insurance agent?
To become a motor insurance agent, you must be above 18 years of age, have at least 10th class pass and have a valid Aadhar card and PAN card.
After this, you are also required to complete 15 hours of training prescribed by IRDAI. We promise to help you learn everything you need to know to become a good and successful agent.
Who can become a motor insurance agent?
To become a motor insurance agent, the only requirement is that you are above 18 years of age and have passed 10th class.
This means that anyone with the qualifications to sell insurance policies can become a POSP agent. Such as: college students, stay-at-home spouses, retired people and businessmen/businesswomen, etc.