Users of insurance should know the different interests of agents and brokers to choose the most convenient in each case.

It is eternal professional discussion that offers more guarantees to users Insurance. Analyze the pros and cons of each of these professionals will select, as appropriate to those most appropriate.

The interests of the insurance agents

An insurance agent, unlike a broker, you must “loyalty” to an insurance company but, with your permission, you can work with other companies, branches with which they work with the parent company.
The insurance agent bound by the “fidelity” to the parent company must cooperate with it in achieving production levels of different classes, maintain a level of reasonable claims and that the level of non-payment of premiums does not exceed certain levels.


Pros and cons of an insurance agent

These circumstances conditions the insurance agent not to admit, according to cases, customers who, by the knowledge that he may have, can provide a lot of claims to the insurance portfolio. His margin of negotiation with the prospect for the premium discount will depend on the margin that will yield the primary insurance company, which will be higher the more important the premiums you work with. Its scope is limited to the classes you work with the insurance company that maintains the agency contract. On a contractual and legal policies formalize insurance agents are owned by the insurance company.

A more personal to the insured

However, precisely for that link with the parent company, will allow you to offer better tracking of claims and a more personalized with the insured. Furthermore, the agency contract binding him to the company will receive specific training in the insurance sectors in which the company works, which, having a deeper understanding of the policies they sell, also provide a more rigorous advice about what does and does not cover every insurance policy. All this leads to the conclusion that, perhaps, be good to go to these professionals for the intermediation of own policies of what might be called domestic, that is, car insurance, home insurance, Retirement insurance, pension plans, Owners and small businesses.

The interests of insurance broker

The insurance broker, unlike an insurance agent, is a freelancer who can work with any insurance company with many insurance companies simultaneously considers most appropriate. You are not required by insurance companies to maintain specific accident while maintaining a low level of claims allowed to negotiate their policy portfolio companies with better economic conditions. Professionally, the most important thing is that policies are formalizing their property while policies are formalized by the agent-owned insurance company, as discussed above.

The pros and cons of insurance brokers

The professional independence of the broker causes each year, the vast majority of brokers negotiate their portfolio of policies with different companies to the highest bidder, selling to companies each year to pay them more commission for them. Insurance companies do not require them to have a minimum level of professional training on the policies they sold.

Runners, as they work the same line of insurance with different insurers, is more difficult for them to have a thorough knowledge of the same with insurance agents related to their respective primary insurance companies. The independent nature of the runners become intermediaries ideals in hiring specialized risks such as insurance, “P & O”, the famous “Hole in One”, fishing boats, insurance, early retirement or to secure nuclear power plants, for example .

What may be secured with an insurance broker and an agent which

In conclusion and according to the characteristics of each of these professionals can be concluded that the hiring of insurance policies for individuals, auto, home, owners, insurance, retirement, pension, accident insurance, etc.. majority is more convenient to go to an insurance agent. This is so because individuals require a more rigorous advice and this advice can offer more guarantees with the insurance agent. Has professional training which gives the insurance company he represents on the insurance policies it sells. For hiring policies that require more specialized knowledge as insurance “P & O,” “Hole in One”, industrial risks, transport insurance under Incoterms, ADR transport, etc. may be more advisable to contact an insurance broker.