What is an insurance mediator?
An insurance mediator is someone who advises the client on the types of insurance and coverage that are best for them based on their personal situation and, to do so, analyzes the risks to which they may be exposed. Also, it analyzes and points out the type of insurance that each client needs to guarantee the correct coverage of their insured goods, or of their person.
Characteristics of an insurance broker
For example, the agent type mediator is an expert who works for one or more insurance companies. In turn, these can be:
- Bancassurance operators: They are experts who carry out insurance activities through the distribution networks of credit institutions.
- Brokers: They are experts who offer professional and independent advice without having links with insurance entities.
Additional information about the insurance broker
It is important to take into account that there are, in turn, differences between what is mediator, agent and insurance broker, let’s expose each of its points:
Within the mediator modality, there are two types of positions depending on their relationship with the insurance companies: the agent and the insurance broker. If you are an agent you will not be able to perform broker functions and vice versa.
For this reason, it is important that people take into account this type of detail to seek the correct advice.