ICM Insurance Brokers Private Limited ("ICM") has been serving the insurance industry since 2008. We also own and operate this e-commerce portal, www.easyinsuranceindia.com, through which customers can purchase insurance online.
Over the years, we have learned that less than 5% of the people who need insurance use online to purchase policies. Rest of the 95% of the people look for someone they know to purchase policies from. Understanding this, IRDAI has authorized us to work with individuals such as you who can sell the policies to your friends and family through us and still earn high commissions. These agents are called POS (point of sale) persons.
By registering in this page, you are authorizing our representative to call you and help you to become a POS of this firm. You will be requested to furnish few details about yourself and required to undergo training and take a simple test. We will assist you through the process.
Once you become our POS, we will empower you and help you to become a success quickly. A person who becomes a qualified POS is called a POSP.
The following document explains the privileges of being a POSP of ICM and also explains the terms and conditions that you need to be aware as you become a POS of our company:
* You will be designated as a Point of Sales Person of ICM.
* You are entitled to sell various products of the company as approved by IRDA for POSP which ICM will help you clarify.
* If an insurance company, for any reason, refuses to issue policy to your client, then you shall not be receiving any remuneration for that policy.
* In consideration of you having been empanelled with ICM, you agree never to accept any premium amount (1) in cash, and/or (2) be sent to your bank account, (3) or cheque to your name.
* It is a felony if a POSP misappropriates (or failure to remit) any funds or property due to ICM or the insurer.
* Being a POSP with ICM, you agree to abide all applicable laws of IRDAI.
* You shall not guarantee any returns to your investors nor make any representation or advertise, in any manner and/or of any nature to investors without the specific authorization of ICM.
* You shall only use advertising/promotional material authorized/permitted by ICM.
* ICM reserves the right to terminate this arrangement at any time immediately in the event of breach of any of the terms and conditions or any applicable law including those prescribed by any other legal authorities. In fact, ICM need not prove that you had violated any of terms and conditions or any law. Just having such perception is good enough to sever the relationship.
* The appointment made hereunder does not in any manner create or seem to create any employer-employee or master-servant or agent-principal relationship between ICM and yourself. You shall have no right to bind ICM in any manner whatsoever.
* As POSP, you must not furnish wrong information, must not conceal relevant information and must disclose the material facts of the policy holder to ICM.
* As POSP, you must help resolve complaints, unless the circumstances are beyond his control, emanating from the business procured by him and persons he deals with
* As POSP, you must not indulge in inducement in cash or kind with client or any other insurance intermediary/agent/insurer.
* You will be dismissed immediately if found guilty of fraud or charged or convicted in any criminal act.
* Any dispute arising out of the interpretation or construction of the appointment made hereunder shall first sought to be settled amicably, through discussion, deliberation, failing then the courts at Chennai shall have exclusive jurisdiction to try the matter.