The primary function of an insurance broker is to provide you with the most accurate information, but naturally, there are many other various responsibilities they may undertake. These duties and responsibilities can be outlined as follows:
- The broker acts as a representative of the insured, assuming the role of insurance advisor.
- Broking professionals establish relationships between buyers and sellers, calculate risk ratios, and work to organize the most suitable policy for you.
- They can work with all insurance companies but operate independently.
- They keep you informed and updated according to market conditions.
- They adhere to client confidentiality and remain impartial when issues arise, focusing on resolving them.
- Insurance brokers are knowledgeable about the financial structures, technical capabilities, and reinsurance infrastructure of insurance companies. Thus, they can offer you robust alternatives when selecting an insurance company.
- They represent the client, not the insurance companies.
- Insurance brokers may collaborate with all insurance companies as needed.
