An insurance broker is also know as insurance agent. The role of insurance broker is to sells, solicits, or negotiates insurance for compensation. The three largest insurance brokers in the world, by revenue, are Aon, Marsh & McLennan, and Willis Group Holdings. Brokers and agents are the retail side of insurance.
Insurance agents can be either:
- Captive � A captive agent is an agent who works for only one company and is a �captive� of that company. A captive agent will sell policies only for that insurer.
- Independent � An independent agent is one who works as an agent for a variety of different insurers. An independent can produce policies from several insurers and offer some comparisons of different insurance policies.
In many states, both the agent and the insurance broker must be licensed, after having passed an insurance exam. While it is not necessarily to have formal schooling or degrees to become an agent or an insurance broker.
No comments:
Post a Comment