POS Insurance: Products, Benefits and How to Get Started with Quickinsure

The cover may include benefits for accidental death or disability. The exact benefits and exclusions depend on the selected plan.

4. Travel Insurance

Travel insurance can help protect people against certain risks during domestic or international trips.

Depending on the policy, cover may include eligible medical expenses, baggage loss, trip delays and other listed events.

5. Life Insurance

Certain life insurance products may be available through authorised sales channels, subject to the applicable rules and product permissions.

A POSP must only sell products covered by their authorisation. They should explain the policy term, benefits, exclusions and premium payment conditions clearly.

6. Other Permitted Insurance Products

Some platforms may offer additional products, such as cattle insurance or other approved categories. Product availability depends on the insurer and intermediary.

How Does the POS Insurance Model Work?

The POS model connects customers, authorised sales persons and insurance companies through a structured process.

Here is how it generally works:

1. A person registers with an eligible insurer or insurance intermediary.
2. The applicant submits the required documents.
3. The applicant completes the prescribed training.
4. The applicant passes the required assessment.
5. The agreement and authorisation process is completed.
6. The POSP receives the required identification or certification.
7. The POSP can start selling permitted insurance products.

The POSP uses the insurer's or intermediary's platform to check products, share quotes and help customers complete applications.

The insurer issues the policy and handles claims under its policy terms. A POSP or intermediary may provide customer support, but they do not replace the insurer's claim decision.

Who Can Become a POSP Insurance Agent?

The eligibility rules depend on the applicable POSP category and onboarding organisation.

For the POSP programme listed by Quickinsure, applicants must meet these conditions:

• Be at least 18 years old
• Have passed Class 10
• Hold a valid Aadhaar card
• Have a valid PAN card
• Provide bank account details
• Complete the required training
• Pass the online assessment

Applicants should check the latest eligibility and association rules before applying.

Benefits of the POS Insurance Model

The POS model can offer benefits to both customers and people who want to sell insurance.

Simple Purchase Process

Customers can receive product information, compare available quotes and complete eligible purchases through a digital platform.