What is PoS and PoSP?

The insurance regulatory and development authority of India, better known as IRDAI, which is responsible for all insurance-related activity in the country, has recently devised a unique way to ensure every citizen of india has the opportunity to be under the insurance umbrella through The Posp Program. Posp stands for Point of sales person.

A Posp is an insurance agent who has the authority to work at the grassroots level and offer their customers a multitude of options like never before. While normal insurance agents can only sell insurance policies of their own companies, a Posp can sell insurance products across companies and across insurance categories too, like term plans, life plans, health plans, and so on. Here are some other advantages:

  • A Posp has the authority to issue insurance policies on the spot (no underwriting necessary)
  • Posp agents sell simple, transparent insurance plans that provide complete protection and tax benefits
  • Many more options for customers to choose from; one Posp can provide The variety of several normal insurance agents
  • Posp agents have been equipped with digital technology, which makes their lives form-free and therefore their customers' insurance experience richer

Through Posp agents, the insurance industry is bringing all the benefits it can provide Right to the doorstep of the common indian.

Tab 2

2 burgers per month

burger₹ 700
Your yearly cost on fast food = roughly ₹ 8,400
Cost of Health Insurance for whole family with ₹ 5 lakhs cover!

Tab 3

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