POSP (Point of Sales Person)
A plain-English definition from the DeployIT insurance technology glossary.
In short: An individual authorized to sell pre-underwritten insurance products after 15 hours of training and certification under IRDAI rules. POSPs let intermediaries scale distribution with lower entry barriers than full agents.
Related terms
- Broker (Insurance Broker)
- An IRDAI-licensed intermediary representing the customer, able to place business with any insurer.
- IRDAI
- Insurance Regulatory and Development Authority of India.
See it in practice
See this concept working in software
DeployIT puts quoting, issuance, renewals, claims and commissions on one platform built for Indian insurance distribution.