Insurance Broker Or Agent
Pics. Insurance brokers and insurance agents have the same licensing requirements. Like agents, brokers can operate very differently too.
The key difference between insurance broker and agent is that an insurance agent (also called captive agent) typically works for one insurance company and thus can sell insurance policies of this company only. Both insurance brokers and insurance agents act as intermediaries between insurance buyers and insurers. While it is true that they both work in the financial security industry, they both fulfill specific roles.
When choosing whether to buy insurance through insurance brokers vs agents, or directly from an insurer.
To decide between using the service of a broker or an agent depends on your needs. Health insurance brokers are licensed and regulated by individual states. The main duty of agents and brokers is to sell insurance. Both insurance brokers and insurance agents act as intermediaries between insurance buyers and insurers.