Money & Banking

Non-life, health insurance: Norms eased for recruiting PoS persons

G Naga Sridhar Hyderabad | Updated on January 15, 2018

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The Insurance Regulatory and Development Authority of India (IRDAI) has eased norms for recruitment of Point-of-Sales (PoS) persons by non-life and health insurers.

With effect from April 1, insurers/ intermediaries will be allowed to appoint PoS persons with the mandatory training and passing of NIELIT examination, which is already being allowed in the case of life insurance.

The insurers, however, should ensure that the applicant for PoS position is not engaged with any other insurer or insurance intermediary by cross-checking with the database of the Insurance Information Bureau.

They should also conduct an in-house training of 15 hours for the candidate which would be followed by an exam.

Successful candidates should be engaged as PoS persons by entering into a written agreement, which would specify the terms and conditions, the circular added.

Published on March 17, 2017

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