What's the difference between an insurance agency and an insurance brokerage company?

1. The interests of customers and representatives are different:

The service object of insurance agency is insurance company, which collects commission by selling insurance company's products, representing the interests of insurance company; The service object of insurance brokerage company is the insured, and it is entrusted by the insured to find suitable insurance products for them, representing the interests of the insured.

2. Provide different services:

The service provided by insurance institutions is to help insurance companies find customers, that is, to find customers with insurance products; However, insurance brokerage companies are not as simple as selling insurance products. In addition to matching the products of insurance companies for the insured, it also provides full-process services such as risk management, insurance arrangement, assistance in claims settlement and recovery.

3. Different responsibilities:

The insurance agency is only responsible for the behavior of the insurance agency within the scope of authorization, that is, mainly selling products; Insurance brokerage companies are also responsible for the economic losses of customers. If the client suffers losses due to the fault of the brokerage company, it must make corresponding compensation.

Baidu encyclopedia-insurance agent

Baidu encyclopedia-insurance broker company