Simply put, a broker is an intermediary between you as a customer and the insurer - service provider. The broker's duties are:
Because a good broker is competent in every product provided by insurers, and can explain the differences and the strengths an weaknesses of each insurer.
There are 8 insurance companies in Latvia if you want to insure your company's property and find the most suitable one policy, you must first collect proposals from all insurance companies and then a comparison must be made. The broker will do this for you.
Very simple, insurance broker provides offers from all insurance companies, but an insurance agent from only one company to which it is affiliated.
It is always possible to contact the insurer directly, and this is even recommended, as each specific insurance company's employee will be much more knowledgeable about their company's services, terms, risks and rewards than a broker who trades everything. It will be more time consuming, but you will receive the information directly from the service provider. The broker will not be able to offer you the desired price or risk immediately, he is an intermediary, he will also have to coordinate this with the insurer before they can give you an offer.
The broker usually earns his share of the commission on the policy sold, which is paid to him by the insurer. For the customer, or the policyholder usually dont have to pay anything to the broker for their services received. Unless you have a special agreement, the broker should not charge you anything extra.
Banks also provide insurance services in connection with the insurers (except Swedbank). All other banks have insurance partners, each bank enters into an agreement for a specific period of time for the use of the services of a particular insurer for the needs of the bank's customers. The most popular insurance service is travel insurance that comes included in your credit card.
If you are busy and your schedule is quite tight, choose find a reliable insurance specialist in one of the insurance companies, or find a good broker who will help you find your way around all insurance companies.