INSURANCE BASIC

Attributes
- The agency agent should ensure that depending on the nature of the entity,
Affiliate Certificate, Association Agreement or any other document
considering the constitution of the instrument it will have one of its main objects
apply for or obtain an insurance business as a Trade Agent.

- The executive insurance officer will have a minimum qualification of
pass the 12th Dosage or similar Examination made by any recognized person
Board / Institution, in which the applicant resides in the same place as the population
five thousand or more as a final census, and pass to the level of 10 or
a similar inquiry from the Board / Institution identified if the applicant resides
anywhere else.

- It would have completed from an approved institution, at least, fifty hours' of action
training that can be distributed over one to two weeks, live or in general
insurance business, as usual.

- Or he will graduate from an approved institution, at least, seventy-five
practical training for life and general insurance business, where
the applicant is seeking a license for the first time to work as a combined company
agent.

Applicant seeking a Corporate Organization from any authority or company
the applicant's insurance executive should be professional as outlined below:
(a) Partner / Assistant of the Insurance Institute of India, Mumbai;
(b) Associate / Assistant of the Chartered Accountants Institute of India, New
Delhi;
(c) Partner / Assistant of the Institute of Expenses and Accountants of India,
Calcutta;
(d) Partner / Assistant of the Institute of Secretariat of the Company of India, New
Delhi;
(e) Partner / Citizen of the Law Society of India, Mumbai;
(f) Master of Business Administration of any Institution / University recognized by
Any State Government or Central Government; or
(g) have an Indian Banking Certification Collaboration (CAIIB); or
(h) have a professional reputation in marketing from any Institute /
University recognized by any State Government or Central Government;
(i) (from 1.4.2009, it is mandatory that the Broker must have a designated Person
and AIII / FIII characteristics).

Introduction to General Insurance
Despite individuals, some companies use banks, to build
Communities and others as agents to add new business numbers. Plus, he's trapped
The agency has also become a popular means of distribution where in agents are detained
are representatives of the company drawing commissions as payment.

Banks, under the "bancasurrance" agreement which is a strategic medium agreement
an insurance company and a bank, where in the bank they spend their resources with the client
the basis of the sale of insurance policies. This arrangement offers mutual benefits
for the bank and the insurance company and most importantly add
customer, who can get insurance services also from their bank.

Independent Investors (Brokerages)
Brokerage has also become a very popular distribution channel for the life of the Sales and
General insurance business. Also known as Independent Financial Advisors (IFAs),
These consultants have been a prominent source of business purchases in the
high quality marketing. Brokers can trade and keep the same as insurance
either at normal rates or discussed.

 They are also authorized to negotiate with policy insurance designed to take care of the client's specific needs. Stock broker they usually do business with more than one company and in payment is given a commission. However, it does not provide payment from the customer. He is bound by the IRDA Principles for providing the best advice to its client and acting on behalf of the client.
In principle, the Broker is a representative of the insurance buyer.

A broker is through a professional who is licensed to provide his or her professional
customer advice. IRDA has determined the Brokerage registration guidelines under
INSURance RESEARCH SUMMARY (INSURance)
COUNCILS) LOCATION, 2002. Insurance agent is a person / company
Company / Co-op.

A community that advises lawyers on insurance issues and locations
business and insurance. A high level of professional competence and conduct is expected
of the broker. In addition, if he fails to maintain the required standard he may be liable
in damages to his superior.
Although brokers are agents of the issuer, they are usually paid by the insurer
who they trade.
In India, there are many licensed traders who specialize in earning business
domestic markets and also in exchange for international reinsurance business.
Besides, these agents also provide risk management consulting services.
Proxy and brokerage systems are common and contribute to a large portion of
insurance business in developing and developed countries.