Many times when we do not have an insurance policy very clear what the role of mediator in a policy. The purpose of this post is to clarify the differences between agents and brokers, as well as what their pros and contras.En are the insurance sector have traditionally been two sales channels. On the one hand direct sale through insurance or through their own insurance agents, and other independent mediators.
What is a Broker?
An insurance broker is a professional mediator and independent insurance from any insurer , acting on its own account and is subject to a specific administrative control and a specific training requirements.
Brokers are subject to strict regulations and financial requirements of professionalism , which are mandatory to access and develop their business.
According to the Directorate General of Insurance , independent insurance intermediaries are "free links mediators regarding condition involving insurers. The law confers the mission to offer policyholders a professional, specialized and impartial advice, based on its independence. Therefore customers should advise the insurance coverage and the entities that best fit, in their professional judgment, to the needs of the consumer. "
What is an Insurance Agent?
Insurance agents are mediators linked to the insurer through a contractual relationship and a dependency relationship . The entity responsible for the actions of the agent and the agent acting on behalf of the insurance company.
Your link can be exclusive or not. Exclusive agents may not be connected simultaneously contract with more than one insurer, unless it expressly authorizes another entity to operate in insurance contracts not practice herself. Agents working with several insurers are called tied agents.
There is an official record of Insurance Agents , where you can see information about them.
Why work with an insurance broker?
To answer this question we will mention some of the most important advantages:
- Independence : do not maintain links with insurance companies.
- Ample supply : provides the customer with any entity.
- Advice and service without cost : the advice is free, a broker is required to provide his client full information and motivated about the various insurance options selected according to their discretion.
- Security : the activity of all insurance brokers is constantly monitored and controlled by the Department of Insurance (DGSFP).
- After sales : one of the main functions of the insurance broker is continuous and ongoing customer support during your life insurance, especially in case of disaster.
In short, an insurance broker is concerned about meeting the needs of the customer, concerning safety and look for the best deal from insurance companies to cover those needs. Instead, agents are "tied" to the insurance deals they work.
