The Insurance Institute of India (III) and NSEIT have jointly launched Test in the Box (TBX), "a first-ever, pre-recruitment examination model for prospective insurance agents, including those based in remote locations across the country".
III is an insurance education society for professionals while NSEIT is a global technology firm and a subsidiary of the National Stock Exchange of India.
The distribution of insurance products in India is dominated by the agency channel and there is a growing demand for professional insurance agents from tier II cities and the district level, where poor internet connectivity and IT infrastructure is a deterrent.
To plug this growing demand and for companies to expand their coverage further to over 500 districts across the country, TBX was launched to allow for examinations to be conducted anytime, anywhere across India.
The exams will be conducted on behalf of the Insurance Regulatory and Development Authority of India (IRDAI). These exams will be conducted online in a secure environment by NSEIT staff who will carry tablets pre-loaded with a secure OS and connected over a Wi-Fi router.
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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.”
NSEIT MD and CEO Dr N Muralidaran said, “The TBX, tab-based exam solution is a path-breaking initiative in reaching out to semi-urban and rural areas India.” He also highlighted that the TBX-based solution can help the government and institutions to conduct mass recruitments in a secure, and user-friendly way without infrastructure bottlenecks.
Agents test examining body, III, secretary general P Venugopal said “We have been working closely with insurance companies to facilitate training and test content for insurance agents as mandated by IRDAI.”
NSEIT has been conducting online examinations for over a decade for Insurance Agents, Stock Brokers, Government Organizations, Banks, PSUs, Professional Institution, Universities, Corporates, and IT companies. NSEIT has its own exam centres across the country and have been offering services of online exams in Tier I and Tier II cities.
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