Functions of insurance brokers

Functions of insurance brokers.

• They bring into contact the public seeking insurance cover and insurance companies.
• Are agents of insurance companies.
• Gather information on insurance companies or types of policies that these offer.
• Give expert advice to prospective policyholders.
• Advise on how losses can be avoided.
• Obtain several quotations from different insurance companies.
• Choose the best policy for their clients.
• Obtain the best terms for their clients.
• Assist clients with the completion of proposal forms.
• Effect a policy for a client.
• Charge commission on contracts made.
• Assist clients in claiming compensation.
• Arrange re-insurance for clients.

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