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Insurance brokers

An insurance broker is an independent insurance agent who works with many insurance companies to find the very best available policies for his or her clients.

Insurance brokers can be best described as a kind of super-independent agent. In most countries, the insurance broker must be licensed, after having passed an insurance exam. Brokers are required to have a broker’s license which typically means the broker will have more education or experience than an agent.
An insurance broker may specialize in one specific type of insurance or deal in many different types, including health, life, auto, home, and other specialized varieties of insurance, including policies for pets. Those that choose to deal in insurance of an investment nature require special training and must also obtain special licenses from the Securities and Exchange Commission or other associations that deal with investments.
Brokers also have a higher duty, in most states, to their clients. Brokers have the duty to analyze a business and secure correct and adequate coverage for the business. This is a higher duty than the pure administrative duty of the agent.

◆ Risk Management.  Analyze clients’ risks profile and identify their insurance needs. Propose a risk management solution that takes care of clients’ need and concern.
◆ Insurance Consultancy.  Review and tailor make insurance policy coverage for clients to cope with the ever-changing business environment.
◆ Insurance Placement.  Secure the most comprehensive insurance coverage from reputable insurance carriers, that are economically viable to clients, both economically and on coverage afforded.
◆ Claim Services.  Assist clients in negotiating prompt claim settlement that is satisfactory to all concerned parties. Helps clients give notice of claim to insurers and meets with clients and insurers to negotiate with third-parties to ensure the provision of timely and high quality insurance claims processing services to clients.
◆ Daily Service.  Provides continuous service and answers to clients’ questions; Manage daily insurance issues and offer policy advice; Negotiate changes to policy terms as required; Issue an insurance manual and; Assist clients to establish a process for handling insurance issues.

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