Topic: What is Insurance Broking?

What does an Insurance Broker do? Is it any different than an Insurance Agent?

Guys iam new here, please tell me what does an insurance broker do

Insurance broking or brokers have specialized knowledge in finance and act as intermediaries between clients and insurance companies. Insurance brokers can offer considerable advantages over going direct. Insurance brokers provide services beyond insurance sales, such as assisting with employee enrollment and helping to resolve benefits issues.

In today’s scenario premium has become the sole criteria for most of the companies without realizing the value of risk covers and the policy wordings. Our constant endeavour is to educate our clients and get him the best suitable product for its own industry. With our help, several corporates have been able to reduce their premium outgo and are also getting the best of our services and the risk covers. Insurance industry in India is undergoing radical transformation of de-tariffing and the challenges arising from the same are huge. We have evolved to be a professional player to help the corporate select the risk covers and the insurer and facilitate the claims process.
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The Insurance Broker became a regulated term under the Insurance Brokers (Registration) Act 1977 which was designed to thwart the bogus practices of firms holding themselves as brokers but in fact acting as representative of one or more favoured insurance companies.

It is an organization to provide you with a broad variety of insurance services.EIBSL provides vital services to corporate private business houses,Government,Normally any insurance agent who deals with mediclaim policy can get this information.Insurance brokerage in the United States is also a regulated industry, with almost all states individually issuing brokerage licenses. Application Development services in Coimbatore

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