How to Become a Vehicle Insurance Agent in India?

The demand for vehicle insurance agents is rising day by day since more people have been purchasing vehicles in the country. Anybody who owns a vehicle realizes the importance of insurance coverage. For those who are passionate about sales and customer service, becoming a vehicle insurance agent is a good idea.

In this article, we will explain how to become a vehicle insurance agent.

Understanding Vehicle Insurance Agent’s Role

Before learning about the process of becoming a vehicle insurance agent, it is essential to know the role of such an agent. A vehicle insurance agent serves as an intermediary between the insurance company and the customer. 

The primary responsibilities of a vehicle insurance agent are as follows:

• Selling insurance policies
• Providing details about various insurance products
• Providing assistance to customers for processing claims
• Offering personalized advice on options for coverage

Eligibility Criteria

For every profession, there is a certain criteria that a candidate must fulfill so they are eligible to practice it. For becoming a vehicle insurance agent, the candidate must meet the eligibility criteria set by IRDA. It includes some basic requirements which are mentioned below:

• Minimum age of the candidate should be 18
• Educational qualification should be 10+2 or equivalent from a recognized board
• The candidate should possess good communication skills
• The candidate should have a clean background and be free from criminal records
• Pre-licensing training of 15 hours by an IRDA-approved institution should be completed
• The candidate must have a valid Aadhar card and PAN card

Pre-licensing Training

The eligibility criteria has all the basic requirements which you must already possess except pre-licensing training. This is a compulsory training programme which covers various aspects of insurance such as the following:

• Insurance principles, need, purpose, etc
• Types of insurance policies (including vehicle insurance policies)
• Regulatory guidelines and compliance requirements as stated by IRDA
• Techniques for sales and marketing 
• Customer skill services

Acquiring Insurance Agent License

Once the pre-licensing training is finished, the candidate must apply for the examination conducted by IRDA for this license. The examination tests the candidates knowledge when it comes to insurance principles, regulations and ethical practices.

To apply for the examination, the candidates need to submit the following documents to IRDA:

• Completed application form
• Birth Certificate/Passport/Aadhar Card as Proof of Age
• Certificates proving Educational Qualifications
• Character Certificate from a gazetted officer
• Passport-size photographs
• Proof of completion of pre-licensing training

Once the application is submitted, applicants will receive an admit card for the examination. The exam is conducted by the National Institute of Electronics and Information Technology (NIELIT) on behalf of IRDA.

Selecting an Insurance Company

After clearing the exam, the vehicle insurance agent license will be issued to you. Once the license is obtained, the next step involves joining an insurance company as a vehicle insurance agent. In order to help the licensees, insurance companies provide training to them regarding the company’s products and processes.

Before selecting the insurance company licensees are interested in working for, they should consider the factors mentioned below:

• Reputation and credibility of the company
• Insurance Products Range
• Structure of commission and incentives offered
• Training and development opportunities
• Support and resources provided for the agents

Joining an insurance firm which has good ratings and feedback will be beneficial for the candidate. If the firm has a good reputation, it’ll definitely look good on the vehicle insurance agent’s CV.

Building Client Base

Once a vehicle insurance agent has joined an insurance company, their focus should be on building a strong client base. To make this happen, they should consider doing the following things:

• Networking: Vehicle insurance agents can benefit largely by attending insurance industry events, seminars, workshops, etc. to connect with potential clients and other professionals belonging to the same industry.
• Referrals: Vehicle insurance agents can encourage the clients who are satisfied to refer their friends and family members so they can also avail your services.
• Online Presence: It is important to establish a professional presence online through social media platforms such as LinkedIn, Instagram, Twitter, etc, or websites and blogs so that you can showcase your expertise which’ll help the vehicle insurance agents to attract potential clients.
• Cold calling: Vehicle insurance agents can reach out to potential clients by cold calling or door-to-door visits in order to introduce themselves and offer their services. 

Building a rapport with the clients is not an easy process, it takes a lot of time and effort but it is crucial if the vehicle insurance agents want long term success in the insurance industry.

Providing Exceptional Customer Service

The insurance market is competitive but if the vehicle insurance agents provide remarkable customer care services, they can retain clients and get referrals. In order to achieve this, they should:

• Listen to the requirements and issues of the clients and provide them personalized solutions.
• Be responsible and attentive, and available to answer questions put forward by customers. 
• Assist customers so that they can get claims on time.
• Stay updated on any changes in the IRDA’s rules and regulations so that accurate information can be provided to the customers.
• Keep in touch with the clients on a regular basis to ensure that they are satisfied with the services availed by them and if they have any issues, the vehicle insurance agents must make sure to address them properly.

Continuing Education and Professional Development

The insurance industry keeps evolving. New products, guidelines and technologies keep getting introduced in this industry. To stay competitive and offer the best services possible to the customers, a vehicle insurance agent must invest in continuing education as well as focusing on personal development.

This includes:

• Participating in advanced training programs and workshops which are offered by insurance companies.
• Pursuing professional certificates can also be very beneficial.
• Keeping track of new trends and developments in the industry by attending seminars, conferences and industry publications.

Vehicle insurance agents should continuously work on improving their skills and knowledge so that they can do well in their profession.

Conclusion

Acquiring the license of a vehicle insurance agent is not an easy task. Even after the license is acquired, the insurance agent has to work hard on improving his skills and stay dedicated to provide the best services possible to the customers through hard work. The agents must be aware of the new trends in the insurance industry and take up certificate courses which can help to make their career rise. If you want to acquire a vehicle insurance agent’s license and need any help, our team at Registrationwala would love to assist you!

Author: Dushyant Sharma

Hey there, I'm Dushyant Sharma. With the extensive knowledge I've gained in past 8 years, I have been creating content on various subjects such as banking, insurance, telecom, and all the important registration and licensing processes for various companies. I'm here to help everyone with my expertise in these areas through my articles.