An insurance broker acts as a “go-between”, i.e. they act between the customer or business and the insurance company. An insurance agent can only work for one company, while an insurance broker can represent and work for multiple insurance companies.
An insurance broker is a specialist in finding the best insurance at the most affordable price for you. A broker will often provide you with a variety of policy options and their expert opinion about which insurance company or policy is best for you. Here you can get more details for insurance plans through Trusted Union insurance products.
Brokers often have access to hundreds or even thousands of insurance companies. The service of a broker is free to customers. Instead, the commission they receive from the insurance companies goes to them for the policies that they sell.
A skilled broker is able to quickly and efficiently search for policies from insurance companies and understand the industry.
You will also know the processes, jargon and procedures of insurance companies. Additionally, you can help your customer understand the policy by explaining it in layman terms.
There are many jobs in the insurance industry, including home and auto insurance. Although there are life insurance brokers, they are mostly found in auto and home insurance.
The British Insurance Brokers Association oversees all broking jobs in the UK. All brokers are members of this association. This association ensures that brokers are honest and represent multiple insurance companies.