Do you want to become an agent of Oriental Insurance? Ever since the formation of the Insurance Regulatory and Development
Authority (IRDA) and the opening of the insurance sector there has been
a tremendous growth in the market for both life insurance and non-life
insurance. New norms have been introduced for licensing of agents and
rates of commission have also increased exponentially. There is a lot of earning potential in this field and if you
don’t mind a little hard work, Oriental welcomes you to join its family.
Requirements as per IRDA for licensing of Insurance Agents are briefly:- 1. Qualifications: ---The applicant should possess the minimum
qualification of a pass in 12th Standard or equivalent examination conducted
by any recognised Board/Institution, where the applicant resides in
a place with a population of five thousand or more as per the last census,
and a pass in 10th Standard or equivalent examination from a recognised
Board/ Institution if the applicant resides in any other place. 2. Practical
Training .
--- (1) The
applicant will have to complete 100 hours training in general insurance
from an approved institution. This will be 150 hours for agents seeking
a licence for both life and general insurance. The requirement
for training is 50 hours in case the applicant possesses any of the
following qualifications: Associate/Fellow of the Insurance Institute of
India, Mumbai; Associate/Fellow of the Institute of Chartered
Accountants of India, New Delhi; Associate/Fellow of the Institute of Costs and
Works Accountants of India, Calcutta; Associate/Fellow of the Institute of Company
Secretaries of India, New Delhi; Associate/Fellow of the Actuarial Society of
India, Mumbai; Master of Business Administration of any Institution
/ University recognised by any State Government or the Central Government;
or Professional qualification in marketing from
any Institution / University recognised by any State Government or the
Central Government-- For such agents
seeking life and general insurance (composite) licence the training
period will be 70 hours. 3. Examination :
After completion of practical training the applicant has to pass a prerecruitment examination which is conducted by the Insurance
Institute of India, Mumbai. (Full details available on the IRDA website ‘www.irdaindia.org’ ) If you meet the minimum qualifications please visit the office
of our company nearest to you (Divisional Office/Branch Office/Regional
Office). The addresses of our offices are available on this website. Please approach the Officer In-charge and give him an application
on plain paper. After a preliminary scrutiny and brief interaction with
you the concerned officer would proceed with your application based
on your suitability. Training would be arranged by the office at a nominal
charge. The fees for the licence is fixed by IRDA (currently Rs.250/-). |