NSEIT & Insurance Institute of India, launch unique initiative ‘Test in the Box’
The model for Pre-Recruitment Evaluation to conduct Exams for prospective insurance agents– Anytime , Anywhere Initiative to strengthen the Agency Force to 10% of the population
New Delhi, June 26 , 2018 – Insurance Institute of India (III), an insurance education society of professionals and NSEIT, a subsidiary of NSE have jointly launched “Test in the box”, (TBX), a first-ever model for pre-recruitment examination for prospective insurance agents, including those in the remote locations across the country.
The model allows conducting exams Anytime, Anywhere across India. The exam would be conducted, on behalf of Insurance Regulatory and Development Authority of India (IRDAI).
SEIT, in an effort to help expand reach, has introduced path breaking solution where NSEIT staff will carry Tablets pre-loaded with secure OS connected over WIFI router. Using this mobile setup, online Insurance exam can be conducted anytime, anywhere in a secure environment.
Dr. N Muralidaran, NSEIT MD & CEO, said, “The TBX, tab based exam solution is a path-breaking initiative in reaching out to semi-urban and rural areas PAN India. He also mentioned that the TBX based solution can help the Government and Institutions to conduct Mass Recruitments in secure, and user friendly way without Infrastructure bottlenecks..
Mr Nilesh Sathe, Member (Life), IRDAI said, “This new innovative method will motivate unemployed youth to opt for becoming an Insurance Agent. We should have 200 centres across the country in the next one year. This examination module would facilitate the strength of the Agency Force to much-required 10% of the population.”
To further expand the reach, there has been a growing need to penetrate in tier III, semi urban and rural areas, Mr Sathe said, adding: ‘’The interior rural locations have constraints of inadequate IT infrastructure, thereby posing challenge,’’ Mr Sathe said.
Mr P Venugopal, Secretary General of Insurance Institute of India (III), the Agents Test examining body, Said “We have been working closely with Insurance Companies to facilitate training and Test content for Insurance Agents as mandated by IRDAI.”
NSEIT Ltd. is conducting online examinations for over a decade for Insurance Agents, Stock Brokers, Government Organizations, Banks, PSUs, Professional Institution, Universities, Corporates, IT companies, etc. NSEIT has setup its own exam centers in 229 locations across the country. These centers have been already offering services of online exams in Tier I and Tier II cities across the country.
There is growing demand to further expand and cover 500+ districts across country. To address this need, NSEIT with its deep understanding of online exam process and after discussions with the IRDAI and Insurance Institute of India has developed a solution for conducting exams called Test In The Box (TBX) even in remote locations.
In India, purchasing of insurance policies is dominated by the personalized selling. Hence, it is required (for insurance agents) to be able to understand the complexity and assess the requirement of the customer. There is the growing demand for professional insurance agents who require to tap talent from the tier II and district level. However, in tier 2 cities poor internet connectivity and IT infrastructure is a deterrent. Major challenge is to reach out to maximum districts across India which also includes the rural places.