What is an Agent?
An agent is a professional licensed to sell, negotiate, and service insurance policies for one or more insurance companies. Agents act as intermediaries between the insurance company and the client, helping individuals and businesses assess their insurance needs, choose the right policies, and understand the coverage options available. They play a crucial role in the insurance industry by offering guidance and personalized recommendations.
There are two primary types of agents: captive agents and independent agents. Captive agents represent a single insurance company and can only offer that company’s products. In contrast, independent agents can represent multiple insurance companies, providing clients with a broader range of choices. For example, an independent agent might compare life insurance policies from different insurers to find the best fit for a client’s budget and needs.
Agents are also responsible for explaining policy terms, helping clients with the application process, and assisting with claims if needed. Their expertise can be invaluable in ensuring that clients understand what they are purchasing and that they have the appropriate coverage for their financial goals and life circumstances.
