IRDAI has allowed Super Finserv to appoint the Point of Sale Person (POSP) to solicit and market largely pre-underwritten insurance policies like Life, Motor, Health, Travel, and Personal accident of insurance companies, within guidelines provided by IRDAI for recruiting Point of Sale persons. Such appointed POSP can do business for multiple insurance companies in tie-ups with Super Finserv.
1. What is POSP?
2. What are the benefits of enrolling as a POSP with Super Finserv?
- You get many insurance companies under one umbrella.
- You get Instant Quotations from many insurance companies & can compare them in real-time.
- You get technological support which increases your strength in the market.
- You get dedicated relationship manager apart form 9 AM to 9 PM service support.
- You get all your renewal reminders in advance.
3. What is the criterion for becoming a Business partner?
You should have cleared the 10th examination and should have PAN and AADHAR card. Additionally, you should not be an agent with any Insurance Company in India. You need to undergo 15 hours (Life & General each Separately) ofonline training and pass an exam conducted online by Super Finserv.
4. Can a Partner be associated as a POS person with another company or intermediary and Super Finserv at the same time?
No. As per IRDA guidelines, a person can only be a POS person for one company or intermediary.
5.Is it mandatory to undergo any training to become certified as a POS person?
Yes. It is mandatory to undergo mandatory 15 hours of online training to be eligible to become a POS certified agent as per the IRDAI guidelines.
6. What is the duration of the exam?
45 minutes
7. Is there any limit on the number of maximum attempts?
No, there is no limit on the number of attempts for the POSP exam.
8. What are the passing marks in the online examination?
You need to score 50% marks for passing the exam.
9. What is the structure of the Training Module?
The Training Content consists of 5 Modules. There is no upper limit on the time to be spent on each module. However, all 5 Modules have to be completed in 15 hours. Upon completion of all the modules, you will become eligible for taking the Test.
10. Will the business partner be provided a certificate stating their association with Super Finserv?
Yes, upon successful completion of the training and clearing the test, Super Finserv and the POSP will sign an agreement, and post this agreement the partner will be given the certificate of association as a POSP with Super Finserv. Super Finserv will also notify the Insurance Regulatory and Development Authority of India (IRDAI) and Insurance Information Bureau (IIB) about your association with Super Finserv.
11. Do the PAN Cardholder and Bank Account holder have to be the same?
Yes. All commissions paid are subject to TDS and TDS is credited to the Income Tax authorities based on your PAN Card.