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What Do Insurance Brokers Do?

The insurance sector has definitely found its mark within the business world. Insurance companies are popping up regularly and seem to delight in making it difficult to find the perfect insurance provider for you. 

Insurance companies are specialized in many sectors like an insurance for vehicles, health life, home insurance, and others. To simplify life the insurance broker has evolved. To get a reliable insurance policy, you can also contact insurance brokers in Hong Kong through Trusted Union for a free quote.

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What is an insurance broker?

A broker in insurance is basically an intermediary between both the client and the insurance company. They manage all negotiations and the finalization of quotations. In the event that the agency is on the behalf of the buyers then the broker is referred to as a buyer agent. 

In the same way, an insurance broker who is acting on behalf of the seller is referred to as an agent for sellers. The insurance broker acts as the representative of the business who deals with prospective clients and existing clients in relation to their policies and their claims.

Insurance brokers could earn fixed pay or a basic salary with an added commission, or solely on commission. It all depends on the company they are employed by. 

They might also work for multiple insurance companies and, consequently, they could offer many options for your insurance. Brokers generally do not specialize in one particular field, and can also help you to combine your insurance into one place which could mean it is cheaper for you in the end.