agent or broker
Post on 14-Feb-2017
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Agent or Broker?
Appointed by insurance company Approved IRDA Anyone who has cleared 12th
standard and has been trained
Who is an agent?
Who is a broker?
Independent professionals Private limited company licensed
by IRDA Has trained individuals Can negotiate with insurers on
products, pricing and claim process
Similarities
Both sell
But…
How Important is it for them to sell insurance?
Insurance
Agents Do not sell insurance as primary
businessThey may be musicians, students, etc.
BrokersBroking is their mainstream jobLivelihood depends on broking
Relation with insurance
Representation…An agent represents insurance company.
While… Broker represents the customer.
The Difference
Summarizing it up…
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