Become ISP & POSP

UNIQUE OPPORTUNITY

 

TO JOIN FAMILY OF CERTIFIED ISP / POSP’S

Now, you too can earn from home, even during lockdown, by simply signing up and registering as an authorised Point of Sale Person (POSP ) or Insurance Selling Person of PolicyTrip.com. All you need is a smart phone, internet connection, learning aptitude, ability to sell and hard work.

Let’s Get Started

Key Highlights

Single and Fully Digital Transaction Platform for Insurance Products Viz. Motor Insurance (Car/2w), Health Insurance (Individual, Family) & Life Insurance
Paperless System with End to End Digital Execution. No branch visits
Get Training and Certification as per IRDAI norms
Choice of Insurance Companies
Instant Policy Delivery
Transparent Remuneration Structure basis Successful Solicitation
For support Email : [email protected]

    ALL YOU NEED TO KNOW ABOUT BECOMING A POSP (POINT OF SALE PERSON) & ISP


    What is PoSP or ISP ?

    As per the insurance regulator of India, IRDAI, a POSP is a certified insurance individual who can solicit insurance business for authorised POSP products as an extension of the Insurance broker or Insurer’s.

    Unlike regular insurance agent, a POSP can sell insurance products from multiple companies, without any restrictions and across approved insurance categories too, like term life plans, motor insurance, health insurance plans and more.

     

    Guidelines to Enrolment for POSP Defined by IRDAI

    • Authority has issued amendments to the Point of Salesperson (POS) guidelines on 16.03.2017, wherein an insurer or insurance intermediary proposing to engage the POS person shall ensure that the applicant is not engaged as POS with any other insurer or insurance intermediary by cross checking with the database housed in IIB. (Circular Ref. No: IRDA/ Int/ POS/ GDL/ PSP/ 084/ 04/ 2017 )
    • In that context all insurers and insurance intermediaries are hereby advised to upload the existing database of their POS in the portal, start using the functionalities of the POS portal and upload the details of new POS enrolled by them as stipulated in the guidelines from 15thof April, 2017. (Circular Ref. No: IRDA/ Int/ POS/ GDL/ PSP/ 084/ 04/ 2017 )
    • Note : To check Duplication and adhere the Guidelines defined by IRDAI. PolicyTrip.com will regularly monitor the data of POSP / ISP and validate the same from IIB database. If any duplicate POSP / ISP “ACTIVE” data found in IIB database, his or her POSP / ISP code will be liable for termination from PolicyTrip.com If NOC will not shared with us from other Insurer’s or insurance intermediary and would also be report to IRDA or IIB.  

    Limit of Sum Insured for general insurance including health insurance marketed by POS ( IRDAI/ Int/CIR/PSP/160/09/18)

     

    1. Reference is invited to IRDA Circular No. IRDA/ Int/ GSL/ ORD/ 183/ 10/ 2015 dt. 26.10.2015 which stipulated simple over the counter products with a limit on the maximum sum insured to be marketed by POS. The products allowed included motor comprehensive, stand-alone motor third party, home insurance, travel insurance, personal accident insurance, etc.
    2. Subsequently the list was expanded to include health insurance products, Government Schemes, Agricultural Pump set, Livestock, etc.
    3. As is well known the maximum limit of the sum insured on the POS product category is communicated to the insurers by the Authority at the time of taking on record the POS product.
    4. As a result, the policyholders and other stakeholders may not be aware of the limits of sum insured for such POS products of general insurance.
    5. In order to bring transparency, the Authority reiterates the following limits of maximum sum insured under various POS products in the general insurance category:

    S.No.

    Product category

    Maximum Limit of Sum Insured for a general insurance product marketed by POS

    1

    Motor Package (2-wheeler, private car and commercial vehicles)

    Rs 50 lakhs per risk

    2

    Motor Third Party (2-wheeler, private car and commercial vehicles)

    No limit

    3

    Personal Accident

    Rs 50 lakhs per life

    4

    Travel

    Rs 3 crores per life/ risk or equivalent currency in foreign exchange

    5

    Home

    Rs 50 lakhs per risk

    6

    Fire & Allied Peril (Dwelling)

    Rs 50 lakhs per risk

    7

    Hospital Cash

    Rs 1 lakh per individual

    8

    Critical Illness

    Rs 3 lakh per individual

    9

    Health Indemnity

    Rs 5 lakh per individual

    10

    Cattle/ Livestock

    Rs 1.5 lakhs per risk

    11

    Agricultural Pump-set

    Rs 1.5 lakhs per risk

    12

    PMFBY/ WBCIS/ CPIS/ PMSBY/ Govt Schemes

    No limit

    13

    Crop Insurance other than Govt Schemes

    Rs 1 lakh per acre