If you view the insurance industry as being composed of wholesalers and retailers, general insurance agents generally are wholesalers. In turn, standard line insurance agents who may work for a general insurance agency and brokers sell these products to their individual clients.

How do I start a general insurance company?

Procedure to Obtain Insurance Company License

1. The certificate of incorporation of the company (Companies Act 2013).
2. Certified copies of the charter documents (Memorandum of Association and Articles of Association).
3. A five-year business plan that has been duly approved by the Board of Directors.

How do I qualify as an insurance agent?

How to become a licensed insurance agent

1. Decide what kind of insurance agent you want to be.
2. Decide which insurance products you will sell.
3. Review your state’s licensing requirements.
4. Take an insurance license exam.
5. Submit your licensing application and background check.

How can I become a general insurance agent?

If you don’t have a PCEIA certificate and would like to know more about how you can obtain it, click here. Step 2: Obtain the Right Forms – You’ll need the “Application for Agency” and “PIAM Application Form for Registration of General Insurance Agent” forms.

How old do you have to be to be an insurance agent?

To be a general insurance agent, you should: 1 Be at least 18 years old; 2 Minimum 3 GCE ‘O’ Level 3 Basic Insurance Concept and Principles (BCP) 4 Certificate of General Insurance (CGI) 5 Personal General Insurance (PGI) 6 Health Insurance (HI)

How to become a general insurance agent ( IrDA )?

Only once the training is completed you will be issued a Training Completion Certificate from that Insurer to sit for the online or offline IRDA exam. Then you need to score 50% to pass the test. Once you pass the test, you will be issued an IRDA License and then you can start sourcing business for the Insurance Company you are registered with.

What do I need to get an insurance license?

You need to complete prelicensing education for your line of authority, which is determined by each state. The number of hours you’ll have to complete and the cost also varies by state. You need to pass the state insurance licensing exam for your line or lines of authority. A prelicensing exam preparation package can help.