To increase insurance penetration in the country, the industry needs more distributors to travel the last mile. To achieve that goal, what’s needed is a simple certification process for these distributors. So, to get such distributors on board quickly, the Insurance Regulatory and Development Authority of India (Irdai), in 2015, allowed for a new type of distributor, called the point of sale (PoS) person. Given that these individuals have a lower qualification and training threshold, compared to other insurance distributors such as agents, brokers and corporate agents, Irdai has allowed these individuals to sell only basic insurance products, which don’t require a lot of underwriting.
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