Become a Motor Insurance Agent

Become an insurance agent with Digit

By submitting your contact number and email ID, you authorize Go Digit General Insurance (Digit Insurance) to call, send SMS, messages over internet-based messaging application like WhatsApp and email and offer you information and services for the product(s) you have opted for as well as other products/services offered by Digit Insurance. Please note that such authorization will be over and above any registration of the contact number on TRAI’s NDNC registry.

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How to Become a Motor/Car Insurance Agent in India in 2024?

Becoming a motor insurance agent is a rewarding career path that involves several important steps. It includes a high school diploma or equivalent, completing the required pre-licensing courses and passing your state’s licensing exams. You can easily become a motor insurance agent with Digit, who offers robust support and tools to ensure your success. Keep reading to discover more about this career and how Digit can help you achieve your goals.

Table of Contents

What is Motor Insurance?

A motor insurance policy can be used to cover a car, a two-wheeler, or a commercial vehicle like an auto or a truck and is compulsory for all vehicles in India. It is also important for people to have it so that they are covered for losses and damages such as in the case of accidents and natural calamities.

There are primarily three types of motor insurance plans – Third Party Motor Insurance Policy, Own Damage Motor Insurance Policy and Comprehensive (or Standard) Motor Insurance Policy.

Finally, Comprehensive Motor Insurance offers complete protection against both third-party damages and losses, and own damages. This includes protection from unforeseen losses such as accidents, natural calamity, fire or theft.

Who is a Motor Insurance Agent?

A motor insurance agent is someone who works with an insurance company to sell specific motor insurance products. If you were to be a Motor Agent or POSP, you would help customers choose the right motor insurance policy as per their requirements from all motor vehicle-related insurance plans.

With Digit, you can sell Car, Bike (or 2-Wheeler) and Commercial Vehicle policies.

*Disclaimer - There is no specific category for Agents. If you register for becoming a general Insurance agent, you can sell all general insurance products.

Interesting Facts about Motor Insurance Industry in India

The motor insurance market in India is expected to reach INR US$11.15bn by 2024. The Indian car insurance sector is predicted to grow at a CAGR of 2.15% from 2024 to 2028.

The average spending per capita on the Motor Vehicle Insurance market is estimated to be INR US$7.74 in 2024.

Why Become a Motor Insurance Agent with Digit?

Learn more about why should you become a motor insurance agent, and why should you choose Digit?

Work Directly with Digit

As our POSP partner, you will work directly with us. No other middlemen involved. Digit is the fastest growing insurance company India today. We are currently the youngest company to be awarded Asia's General Insurance Company of the Year 2019.

Insurance Made Simple

We believe in making insurance simpler, which is why all our documents are so simple that even 15-year olds can understand them.

Strong Backend Support

With technology as our main pillar, we offer you a dedicated support team, and an advanced web & mobile app that allows you to sell 24x7!

Rated 4.8 on Facebook

We believe in keeping our customers satisfied and have a Facebook rating of 4.8/5, highest for any insurance company.

Super-Fast Growth

In this short time, we have already reached more than 2% of the market share (in the previous quarter) in the motor insurance category.

High Claim Settlement Ratio

We have a high claims settlement ratio for private cars and have settled 96% of all claims we have received for private cars.

Paperless Processes

Our processes are completely online, from issuing a policy to registering a claim. You don’t have to fill any paperwork. All you need is a smartphone/computer and an internet connection. So, you can now work from home or even anywhere else!

Quick Commission Settlement

Don’t worry, we have your back! All our commissions are settled quickly. Your account will be credited with your commission every 15 days of policy issuance.

How to Become a Motor Insurance Agent?

The easiest way to become a vehicle insurance agent is by completing POSP certification. A POSP (Point of Sales Person) is the name given to an insurance agent who can sell specific insurance products. To become a POSP, you only need to have the minimum educational qualifications required by the IRDAI and undergo training provided by us. Digit will take care of your training process. Don’t worry!

Requirements and Qualifications to Become a Motor Insurance Agent in India

If you want to know how to become a car insurance agent, you must be over 18 years of age, should have completed education up to at least Class 10, and have a valid Aadhaar Card and PAN Card. You will be then be asked to complete compulsory 15-hour training specified by IRDAI. We promise to help you learn everything you need to know!

Who Can Become a Motor Insurance Agent?

The only requirement to become a motor insurance agent is that the candidate must be over 18 years of age and should have completed Class 10. This means that anybody who has an aptitude for selling insurance policies can become a POSP Agent. This includes college students, stay-at-home spouses, retirees, and businessmen/women.