Sell insurance as a POSP with an IRDAI-licensed broker
A Point of Sales Person is appointed by a licensed insurer or intermediary and can sell the insurance products the IRDAI allows a POSP to sell. Apply, complete the prescribed training, pass the prescribed examination, and we appoint you. You work your own hours, and our team handles the back office and claims behind you.
What a POSP is
POSP stands for Point of Sales Person. It is a category the IRDAI created so that an individual can be appointed by a licensed insurer or intermediary — an insurance broker, for instance — and sell insurance without holding a licence of their own.
A POSP is appointed by, and works under, the licensed entity that appoints them. That entity stays responsible for the business the POSP brings in. Appointing you as our POSP means your sales are placed through Novacred Insurance Broking Private Limited, under our IRDAI broker licence.
A POSP cannot sell every insurance product. The IRDAI specifies which products may be sold at a point of sale — broadly the simpler, standardised retail products — and a POSP is limited to those ([POSP PRODUCTS]). More complex products have to be handled by our licensed staff, and we route them there.
Before you can be appointed, the IRDAI requires you to complete the prescribed training and pass the prescribed examination. We arrange both.
The four steps
Apply, train, sit the examination, get appointed. The training and the examination are IRDAI requirements, not ours.
Apply
Fill in the form on this page. Our POSP team calls you back, checks that you meet the IRDAI eligibility rules and tells you which documents to keep ready: PAN, Aadhaar, your education certificate, a bank proof and a photograph.
Training
You complete the training the IRDAI prescribes for a POSP, covering the products you will be allowed to sell and how they must be sold. We provide the material and a trainer you can ask questions of. It runs for [TRAINING HOURS], [TRAINING MODE].
Examination
You then sit the prescribed examination. You have to pass it before you can be appointed; that is a regulatory requirement, not our rule. The format is [EXAM FORMAT] and any fee payable is [EXAM FEE]. If you do not pass the first time, we will tell you when you can sit it again.
Appointment
Once you have passed and your documents check out, we issue your appointment letter and your POSP code and give you a login. Start to finish this usually takes [ONBOARDING TIME].
Who can apply
The IRDAI sets the eligibility rules; we check them with you before anything else.
- You meet the minimum age the IRDAI POSP guidelines require ([MIN AGE])
- You meet the minimum education the guidelines require ([MIN EDUCATION])
- You have a PAN and an Aadhaar, and they match your name
- You have a bank account in your own name for commission payouts
- You have a smartphone or a computer, and a working internet connection for the training and the examination
- You are not already appointed as a POSP by another insurer or intermediary for the same category of business
If you are not sure whether you qualify, apply anyway and ask us on the call. It costs you nothing to find out.
What we provide
Training and examination support
The prescribed training material, a trainer to ask, and help with scheduling and sitting the examination.
A broker behind you, not one insurer
You place business through our IRDAI broker licence, so you can offer your customer plans from a range of insurer partners rather than one company's range.
A POSP login
Quotes, proposals, your policy list and your commission statements in one place, so you always know where a case stands.
Back office and underwriting help
Someone to call when a proposal is stuck, a document is queried or a quote needs to be reworked.
Claims support for your customers
Our claims team handles the intimation and the follow-up, so a claim does not become your problem to solve alone. It is the part that keeps customers coming back.
Marketing material you can use
Approved brochures and social posts, so what you send out says what it is allowed to say.
How you are paid
You are paid commission on the policies you sell, at [COMMISSION]. The rate depends on the product, the insurer and the premium, and it is subject to the limits the IRDAI sets. Your appointment letter states what applies to you.
We do not offer a salary, a fixed monthly payment, a joining bonus or any guaranteed amount, and nothing on this page should be read as one.
We make no claim or promise about how much you can earn as a POSP. Your earnings depend entirely on what you sell, and it is possible to earn nothing. Anyone who quotes you a guaranteed income, a monthly target payout or an "earn up to" figure for a POSP role is not describing this one.
Apply to become a POSP
Our POSP team calls you back to check your eligibility and take you through the training and the examination. Applying costs you nothing and commits you to nothing.
POSP questions
What is a POSP in insurance?
A POSP, or Point of Sales Person, is an individual appointed by an IRDAI-licensed insurer or intermediary who can solicit and sell the specified insurance products the IRDAI permits to be sold at a point of sale. The POSP works under the licensed entity that appoints them, and that entity remains responsible for the business.
Do I need my own licence?
No. A POSP is not separately licensed. You are appointed by a licensed insurer or intermediary — in this case an IRDAI-licensed broker — and you sell under that licence once you have completed the prescribed training and passed the prescribed examination.
Is there really an examination?
Yes, and it is not optional. The IRDAI requires every POSP to complete the prescribed training and pass the prescribed examination before being appointed. We arrange both and support you through them, but we cannot appoint anyone who has not passed.
How long does the training take and what does it cost?
The training runs for [TRAINING HOURS], [TRAINING MODE], and the examination format is [EXAM FORMAT] with a fee of [EXAM FEE]. Our POSP team confirms the current figures when they call you.
How much can I earn as a POSP?
We do not put a figure on it and you should be sceptical of anyone who does. You are paid commission on what you sell, at [COMMISSION], within the limits the IRDAI sets. There is no salary, no guaranteed amount and no minimum: it is entirely possible to earn nothing.
Can I do this alongside my job?
Many POSPs do, because you choose your own hours. Check your employment contract first, since some employers restrict outside work.
Which products can a POSP sell?
Only the products the IRDAI specifies may be sold at a point of sale ([POSP PRODUCTS]) — broadly the simpler, standardised retail products. Anything outside that has to be handled by our licensed staff, and we route those cases to them.
Can I be a POSP for more than one company?
No. You may not hold a POSP appointment with more than one insurer or intermediary for the same category of business. If you are already appointed somewhere, tell us when we call and we will explain what your options are.
What documents do I need?
Your PAN, your Aadhaar, proof of the education the guidelines require, a bank proof for commission payouts and a recent photograph. We tell you exactly what is needed before you send anything.
What happens after I apply?
Our POSP team calls you back, checks your eligibility and explains the training and examination. Nothing is committed until you have passed and we have issued your appointment letter.