What differences are there between an insurance broker and an insurance agent? What type of policies does each offer? Do they have the same skills?
The first thing to keep in mind is that both brokers and agents are insurance mediators. In other words, they are professionals who connect clients with insurance companies and, on their behalf, formalize insurance contracts.
However, insurance mediators can be agents or brokers. The main difference between a broker and an insurance agent refers to the companies with which they work.
- Insurance agents represent the same company ; that is, they only work with the company they represent. Therefore, the agents are contractually linked to the insurer they represent and maintain a dependency relationship with it, so they act on behalf of the company they represent, in such a way that the company is responsible for the mediator actions.
- Insurance brokers are independent mediators, and may carry the representation of various insurers. Since they are not linked to any insurance company, the brokers act on their own account. However, they are subject to a regime of administrative control and very strict regulations regarding professionalism and financial requirements. In addition, they are required to have a specific degree.
Purchasing insurance with a broker offers many advantages, as the broker acts as an independent adviser. As he knows the characteristics of each product, the insurance broker can advise each client individually. In addition, in the event of a claim, the broker can help in the processing and in obtaining greater benefits for the insured, since he knows the process and, not being linked to the company, acts in defense of the client.
At PuntoSeguro we are insurance brokers and we offer a personalized treatment to all our clients. Being a brokerage, we offer different types of insurance from a wide variety of insurance companies to offer the most suitable product for the needs of each client. In addition, we offer free advice so that our clients can find insurance with the necessary coverage to really cover their needs. If you need more information to take out insurance or need any additional clarification, do not hesitate to contact us.
