Three distinct paths exist for insurance distribution in India: individual agent, POSP, and broker. Each has different licensing and earning potential.

Individual Agent

An individual agent is licensed by one insurer. IC-38 + IRDSmart exam required. Best for agents starting out. Earnings: Rs.4-50 lakhs/year typical.

POSP (Point of Sale Person)

Lighter license - IC-38 not required. POSPs work under brokers or web aggregators. Earnings: Rs.2-15 lakhs/year.

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Insurance Broker

Broker licenses are corporate with Rs.75 lakh capital requirement. Brokers represent the customer. Earnings: Rs.50 lakhs+ to Rs.10 crores+.

Which One to Choose

Start as an agent if you want simplicity. Become a POSP if you only want to sell motor/health digitally. Move to broker once you cross Rs.5 cr annual premium.

FAQ

POSP - no IC-38 exam required.

Limited - POSPs primarily sell pre-approved products.

Rs.75 lakh paid-up capital plus deposit.

A broker scales much higher with multi-insurer flexibility.

Yes - Agenex supports all three workflows.