What does an Insurance Broker do?

30 April 2021
by Lovey Dhesi

Agent vs Broker

To understand what an insurance broker does we need to know the difference between an insurance agent and an insurance broker.

Put simply, insurance agents represent the insurance company (insurance seller), whereas insurance brokers represent you (insurance purchaser). Insurance agents have a product that they then have to match a buyer to based on predefined characteristics. Insurance brokers do the opposite. They match a person to a product based on criteria identified through understanding the buyers needs. In summary, the insurance broker works on your behalf as an intermediary to find the best coverage unique to your needs. Your needs are at the center of the insurance brokers interests.

 

What does a Broker do ?

 

 

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