An Insurance agent, often called an insurance broker, is a representative of an insurance company. An agent generally works for a single insurance company but sometimes an independent agent may represent several different companies depending on their area of expertise.
A local insurance agent is authorized to offer all coverage options available from a larger insurance company. Part of the agent’s salary is based on the commission he gets from selling the insurance, he will often offer to fulfill all of the customer’s insurance needs. An insurance agent may sell policies for home, life, car, or medical insurance or may combine them to offer a package plan that includes a combination of these policies.
The Job of an Insurance Agent
Customers are required to pay regular premiums to the insurance company and so part of an agents job is to make sure the customer is in compliance. An agent may send out a reminder of an upcoming payment, or notify the customer that a rate change is pending. An agent also will often keep track of changes in a client’s life, such as a child becoming a teen driver or a new home. When clients need to change their coverage, the agent will negotiate with the parent company for the new terms.
An insurance agent will often be the informal arbitrator between the parent company and the client. He will likely know how to present the claim in the best way in order to get the most favorable settlement.