How to become an Insurance Broker?
How to become
an Insurance Broker?
It is evident
that people presume that insurance agents and brokers are similar professions,
but in reality, it is 360 degrees opposite. An insurance broker is a working
professional liable for representing clients and guaranteeing them the
exceptional insurance policy which mandates their urge such as life
insurance policy or best
motorcycle insurance. But insurance agents sell
commodities and services to the clients in exchange for a commission. Besides
this, insurance agents showcase the insurance agencies, and they can finish
insurance sales transactions seamlessly whereas, insurance brokers are unable
to deploy such tasks. Instead, they accumulate data and equip insurance agents
of the firm with the data.
How to become an Insurance Broker
Eligibility Criteria
- Candidate must have a bachelor/masters or any equivalent degree
like being an associate of the insurance institute of India or Insurance
Brokers Association of India.
- After attaining a degree, an aspirant must engage in
reinsurance activity or insurance consultancy for at least seven years
before applying.
- Should have gone through an adequate amount of theoretical and
empirical training from the well-reputed Insurance Regulatory Authority of
India to know the nitty and gritty of the discipline.
- After finishing the training program, one has to crack an
examination organized by the National Insurance Academy.
- Attain expected capital as per the rules and regulations
enforced by the higher authorities. After meeting the criteria, you will
receive a license that will be further valid for three years from the
issued date.
- Filled and signed application form printouts.
- Memorandum offered by the company to exhibit the association.
- Declaration form signed by partners or by at least two
directors.
- Individual shareholders last three years It returns.
- Affidavit and net worth certificates showcasing the resource of
individual shareholders invested funds.
- Article of Association of the firm.
- Demand draft contrary to the licensing charges.
- Auditor certified- verified detailed statements. The document
must consist of, shareholding pattern of the agency, full names of the
shareholders' agencies, totally held shares numbers, folio numbers, and
the exact share certificate numbers.
Comments
Post a Comment