MANAGEMENT

Detailed explanation-1: -An insurance broker is an intermediary who acts on behalf of a client and negotiates with multiple insurers to find an effective plan that meets the client’s needs.

Detailed explanation-2: -What is an insurance broker? An insurance broker is a regulated financial adviser who specialises in general insurance. They are experts who will help you decide what type of insurance and level of cover you need and recommend a suitable policy at a price you can afford.

Detailed explanation-3: -Advocating on your behalf to resolve claims and coverage conflicts. Assistance in obtaining settlements from insurers for losses that penetrate excess insurance layers. Liaising with insurance companies, claims and risk data information systems. Risk control and claims advocacy services, as requested.

Detailed explanation-4: -Although agents are trained and licensed as per the rules stipulated by the regulator IRDAI and can only represent one insurer from a sector. This means an agent can sell products of one life insurer or one general insurer and one health insurance company.

Detailed explanation-5: -An insurance broker acts as an intermediary between you and an insurer. Armed with both your background and their insurance know-how, they can find a policy that best suits your needs for a reasonable price. While brokers can save you time and money, you may have to pay a broker fee for their services.