The difference between insurance agent and insurer

According to the provisions of China's Insurance Law, an insurer, also known as an "insurer", refers to an insurance company that enters into an insurance contract with the applicant and assumes the responsibility of compensation or payment of insurance benefits. There are two forms of China: joint-stock companies and wholly state-owned companies.

An insurer is a legal person, and an individual citizen cannot be an insurer. The specific forms of insurers include insurance companies, mutual insurance companies, mutual insurance institutions, insurance cooperatives, state-owned insurance companies and professional self-insurance companies.

insurance company

An insurance agent refers to a person who operates insurance business on behalf of the insurer and collects agency fees according to the authorization of the insurer. Insurance agents carry out business activities in the name of the insurer within the scope authorized by the insurer, including soliciting business promotion activities, accepting insurance, issuing temporary insurance policies or insurance policies, collecting insurance premiums, and acting as agents for survey and settlement of claims. Agency fees are usually paid in proportion to business volume. According to different business scope, insurance agents can be divided into general agents, local agents and part-time agents. There are special agents who represent only one insurance company, and independent agents who can represent multiple insurance companies at the same time.