Insurance industry – Brokers/Intermediaries

Brokers act as intermediaries between an insurer/underwriter and their ultimate customers.  For the most part, brokers represent the end customer and liaise with a variety of insurers/underwriters to ensure the customer's insurance needs are properly met with the most competitive pricing available.

In this short animated clip from NIBATV, NIBA helps answer the question Why use an insurance broker?:

Bigger brokers (AON, Marsh, Jardine Lloyd Thompson, Arthur J Gallagher and Willis) are large multi-national companies which 'sell' insurance at the highest levels.  Forget about the stereotype of door-to-door sales people or cold calls from call centres trying to sell insurance to mums and dads - these brokers are professional, multinational organizations, with employees the thousands and revenues in the hundreds of millions, if not billions.

Many of the larger brokers include their own claims departments and other divisions which may appear to be similar to insurers themselves.

There are also many smaller "suburban" brokers, who service the needs of many small to medium-sized businesses and domestic clients. Whilst not being as big as the international brokers, these companies still provide professional services to their client and act on their behalf to tailor insurance solutions to meet their needs.

Click on the links below for some of the specific roles which may exist within a larger broker or use the button below to return to the previous page:

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