What is a Broker?
An insurance broker is an individual who works as an intermediary between an insurance company and a consumer. An insurance broker helps the consumer find their ideal insurance policy that will best cover their needs.
Purchasing insurance can be a complicated process, often involving extensive research. An insurance broker will do this research on behalf of their client.
Insurance brokers are typically paid by commissions and fees they earn on the insurance policies they sell.
How Brokers Work
Insurance brokers are used by consumers looking to purchase insurance. The broker helps their client identify what they are looking for in an insurance policy, then completes research to narrow down their best insurance options - much like Pawlicy Advisor does for pet parents interested in pet insurance. Brokers work as an intermediary between the insurance company and their client.
Key Takeaways
- An insurance broker’s number one priority is finding the best insurance policy that suits their client’s needs.
- Insurance brokers work directly for the consumer.
- Insurance brokers make finding great insurance easier by completing research on many insurance policies for the client.
