Insurance agent: who is it?

Insurance agents are natural or legal persons who represent the insurer and act on his behalf. That is, they are entitled to sell the company's policies to potential customers.
The agent conducts its activities with concern for the interests of the insurer. Its purpose is to attract clients for the insurance company.
An insurance agent can cooperate with several companies and work with several types of insurance at once. Such a specialist is called a multi-mandate.

What does an insurance agent do?
1. Looking for clients;
2. Advise potential clients on insurance conditions and insurer's tariffs;
3. Prepares insurance documents for the client;
4. Makes payments for the insurance product.

Insurance broker: who is it?

Insurance brokers, unlike agents, operate on the other side - they serve the interests of consumers of insurance services. A professional broker not only fulfills the client's instructions, but also defends his interests and achieves optimal conditions and benefits for his employer.

What does an insurance broker do?
1. Advises the client and helps to fill out the documents correctly;
2. Warns about risks and explains all the details;
3. Assesses risks;
4. Collects documents and transfers to the insured and the insurer;
5. Collects insurance premiums to pass on to the insurance company.

In addition, a broker can combine part of the duties of an emergency commissioner and a surveyor (when settling losses).

Subscribe to the Kafil Sug`urta Telegram channel and don't miss out on new knowledge and opportunities!