Insurance agents/ Brokers Eligibility Jobs
Basically Insurance Agents are the Insurance Industry workers who have the flexibility to work in terms of place and time, and are not bound by company regulations with respect to the same. The revenue model for Insurance Brokers is Commission-based. Insurance Companies use the channel of insurance agents effectively to capitalize their turnover and expand business across the country. On the other hand, it helps the Agents to build their secondary source of income with flexibility in work. This method of distribution has proved a success for both the company and independent agents who can earn unlimited using their networking skills and relationship strategy.
Insurance Brokers, unlike insurance agents, are the professionals that represent the client’s side. They have been introduced by IRDA to consider the interests of Insurance Buyers. If Agents capitalize the sales for Insurance Companies, Brokers are meant to capitalize the Return from Insurance by suggesting the best policy available for client’s business/ organizational needs. The cost of Insurance Brokers is borne by the Insurance Companies. Insurance Broking Agencies need to be certified by IRDA to operate in the industry. Brokers are highly regulated. Apart from a minimum paid-up capital of Rs 50 Lacs – Rs 250 Lacs (based on the type of License), Brokers need to have fully trained staff and proper infrastructure.
Job Eligibility for insurance agents
1. Age- The candidate must be 18 years old and above.
2. Qualification- Degree in Higher Secondary Examination (12th Standard) must be produced
3. Process- Contact your nearest concerned Insurance Company branch stating your interest to be an agent. The interviewer will assess your request and advice to the training department for further process.
4. Training- Once the department forwards your application to Training Section, you will be trained for the minimum of 100 hours, and the time frame may differ according to your interest in composite General and Life Insurance products. The training program is spread over sessions to ensure that you get the required understanding of products and features.
5. Recruitment Examination- Once the training process is over, you are supposed to appear in IRDA conducted examination requiring you to pass with 50% marks and you will become a qualified Insurance Agent.
Job Eligibility for Insurance Broking Jobs
1. Educational Qualification- Most of the Insurance Broking Profiles needs Graduate/ Post Graduate, especially in the fields of Insurance/ Marketing/ Finance are eligible. However actual eligibility depends upon the specific skills related to the profile applied. For accounts related profiles, qualified Chartered Accountants are required.
2. Important Skills- Exceptional Market knowledge, Networking and socializing skills, Negotiation Skills, Expertise in Insurance Products, Analytical Skills, and Interpersonal Communication Skills are some of the commonly identified personal skills that qualify for Broking Jobs Eligibility.
3. Experience- 3-5 Years of experience in the field Corporate Insurance and Risk management is considered one of the strongest eligibilities to hire candidates for Brokers Jobs. The candidates are continuously trained (in the house or outsourced training) to increase their value to the employer. Companies employing fresh recruits offer on-job training programs and the candidates are attached to work under experienced senior employees till they are ready to take independent charge.
How to find insurance Agents/ brokers in local Area?
the simple way to get local insurance Agents just search on google, insurance agents in some area. like lic agents in Hyderabad. you may find through google places or local classifieds sites like OLX and QUIKR.