Guidelines for Accreditation of Agents’ Training Institutions

(for the consumption of applicants)

As per Section 42 of the Insurance Act, 1938, one of the conditions for issuing of license to an Agent is practical training for a period not exceeding 12 months. However, the Authority has made Agents’ Regulations and defined ‘approved institution’ and also prescribed the qualification required for a candidate to become an Insurance Agent.

At present, any candidate desirous to become an Insurance Agent shall be required to have, from an approved institution, a practical training of minimum of 100 hours for the first time and 25 hours before renewal of license.

1. The Authority has constituted some Committees. Each committee has officers of the Authority, who will be authorized to inspect the training institutions.

2. The Committee shall inform the applicant (desirous of being called an ‘approved institution’) before visiting the place of institution to inspect the requirements etc., and those which are mentioned in the application submitted to the Authority. As such the applicants are requested to cooperate with the officers of the Authority when they make such visits for this purpose.

3. The Committee (officers) also may make surprise visits afterwards to inspect the quality of practical training that is being imparted to the trainees.

4. After inspection of the applicant, the Committee shall report to the Authority for the purpose of an approval to the training institution so that such institution can be called an approved institution in terms of the Agents Regulations, 2000.

5. The Authority shall grant an approval on the basis of the report given by the Committee and as such the decision will be communicated to the applicant accordingly.

6. An approved institution shall use the syllabus recommended by the Authority for the purpose of imparting training to the trainees. The institution may also use the test books/ material prepared by Insurance Institute of India in this regard.

7. It is also clarified that the training may be imparted in Hindi, English, or regional language prevalent in the State in which the institution is located.

8. Each approved institution shall be required to furnish certain information to the Authority in the prescribed format, which shall be made available to the approved institution, from time to time.