In a bid to enhance the knowledge of insurance agents, IRDAI has incorporated various changes in the syllabus of insurance agency examination.
The insurance regulator has included some additional chapters on health insurance which cover topics like health insurance underwriting, claims settlement and products in the syllabus. Passing this examination will make an agent eligible to tie up with two insurance companies each from life and general insurers to sell insurance policies.
Meanwhile, IRDAI has released the course material for standalone health insurance examination or SAHI. The syllabus for SAHI includes topics like introduction to insurance & health insurance, insurance documentation, selling process, customer protection and interests and career prospects in health insurance.
Earlier this month, IRDAI has introduced a separate examination for agents to sell health insurance. The insurance regulator has clarified that the agents will have to pass this exam to sell health insurance policies of standalone health insurers. That means, an agent will now have to pass two examination – insurance agency examination and standalone health insurance examination to tie up with three insurers each from life, non-life and general to sell insurance policies.
Last month, IRDAI ended the licensing system of agents and issued its final guidelines on appointment of insurance agents in which it has allowed insurance companies to directly appoint insurance agents. However, the applicants have to pass the insurance examination to become an insurance agent.