What is a POSP ?

In 2015, the Insurance Regulatory and Development Authority of India (IRDAI) allowed a new type of insurance intermediary called the “Point Of Sale Person (POSP)”.

It refers to an individual who possesses the required qualifications, has undergone training, passed the examination as specified in IRDAI POSP Guidelines and solicits and markets products as specified by the Authority (IRDAI).

Can sell over the counter simple plain vanilla type of products which are easy to understand and serviced.

“The benefits of such products are“

Simple to understand
Stated upfront clearly
Fixed pre-defined

IRDAI has allowed

Point of sales person can sell and service various categories of insurance products.

“Point of sales person“


What you get

Online Quote

All Kinds of Insurance Policies

Policy Issuance

Paper-free policy issuance.

Manage renewals

Manage via app.

Product solicited and marketed by
“Point of sales person”

Life insurance

The “point of sales person” can sell life insurance products filed with and approved by the authority, which may be

  • Pure term insurance product with or without return of premium
  • Non-linked (Non-Participating) endowment product
  • Immediate annuity product
  • Any other product / product category, if permitted by the authority.

Detailed guidelines with regard to point of sale – life insurance products are issued separately.

Non - life insurance

The “point of sales person-non life” can sell only the following pre-underwritten products

  • Motor Comprehensive Insurance Package Policy for Two-wheeler, Private Car and Commercial Vehicles.
  • Third party liability (Act only) policy for two-wheeler, private car and commercial vehicles.
  • Indemnity health insurance (Sum Insured upto Rs 5 lacs)
  • Personal accident policy
  • Travel insurance policy
  • Home insurance policy
  • Any other policy specifically approved by the authority

Detailed guidelines with regard to point of sale – non life insurance products have been issued separately.

Who can become a POSP?

Minimum 18 Years Of Age (major)

Cleared 10th Standard

15 Hours Of Training Folloewd By Examination

No Agency With Any Insurer / Intermediary