BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -An insurance broker is an intermediary who sells, solicits, or negotiates insurance on behalf of a client for compensation.

Detailed explanation-2: -An insurance company license gives a person the authority to seek and sell insurance in India. The IRDAI is responsible to issue the insurance company license for the purpose of seeking and selling the insurance.

Detailed explanation-3: -An insurance broker should accept an insured’s premium payment where it is in the insured’s best interests to do so. An insurance agent is the representative of the insurer and must, therefore, accept premium payment from an insured.

Detailed explanation-4: -An insurance agent works for an insurance company, while an insurance broker works for a client. Both agents and brokers can help with multiple types of insurance, including auto insurance, health insurance and more. Choosing between an agent and a broker will depend on your individual needs.