Download - Agent or broker
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![Page 1: Agent or broker](https://reader038.vdocuments.site/reader038/viewer/2022100504/58a226131a28ab527c8b4815/html5/thumbnails/1.jpg)
Agent or Broker?
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Appointed by insurance company Approved IRDA Anyone who has cleared 12th
standard and has been trained
Who is an agent?
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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
![Page 4: Agent or broker](https://reader038.vdocuments.site/reader038/viewer/2022100504/58a226131a28ab527c8b4815/html5/thumbnails/4.jpg)
Similarities
Both sell
But…
How Important is it for them to sell insurance?
Insurance
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Agents Do not sell insurance as primary
businessThey may be musicians, students, etc.
BrokersBroking is their mainstream jobLivelihood depends on broking
Relation with insurance
![Page 6: Agent or broker](https://reader038.vdocuments.site/reader038/viewer/2022100504/58a226131a28ab527c8b4815/html5/thumbnails/6.jpg)
Representation…An agent represents insurance company.
While… Broker represents the customer.
The Difference
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Summarizing it up…
![Page 8: Agent or broker](https://reader038.vdocuments.site/reader038/viewer/2022100504/58a226131a28ab527c8b4815/html5/thumbnails/8.jpg)