IRDAI closely regulates the insurance sector, and the Point of Sale initiative was undertaken to attain better penetration for insurance schemes.
By opting to become a health insurance agent, you can ensure that you provide insurance coverage to the locales. By becoming a POS agent, you make a significant contribution to the cause of social growth and development.
You can ensure that your selected audience gains easy access to critical insurance tools like India's health or home insurance policies.
How can you make a difference as an insurance agent?
Unfortunately, India has a decentralized approach to healthcare and insurance schemes. It makes it the discretion of individuals to determine their choice of the insurance policy.
The centralized healthcare mechanism in the nation is underfunded and understaffed. Thus, these organizations grapple against frequent shortages, making it crucial to have the best life insurance policy.
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In India, 64 percent of the total expenses on healthcare arise from out of the pocket of the customers.
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The insurance penetration in the nation is a mere 3.7%, which is extremely dismal
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Similarly, the life insurance penetration is 2.82% which makes it a necessity for you to become a health insurance agent and make a difference
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Post covid, the customers have become more aware of spending on a quality healthcare policy. It has boosted the opportunities for young people to seek a lucrative career in the sector.
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The private insurance companies' market share has already increased to 48.03% in the past fiscal year.
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Since the penetration of home insurance policies in India is also low, you can help your customers understand the importance of making the right decision regarding the safety of their precious investment.
Becoming an insurance agent is a lucrative career choice. As youth become aware of their long-term needs and expectations, it is easy to push suitable insurance coverage. You become the brand ambassadors for the customers, which boosts your social standing and respect in society.
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