Definition

Noun: An insurance broker is an agent who sells insurance. This professional acts as an intermediary between clients seeking insurance coverage and insurance companies. The broker's primary role is to assess the client's needs, shop for suitable policies from various insurers, and facilitate the purchase.

Usage

An insurance broker works on behalf of the client to find appropriate insurance policies. They provide advice, compare different products, and handle the paperwork for obtaining coverage.

Examples

• The insurance broker helped us find a comprehensive health plan at a competitive price.
• As a small business owner, she consulted an insurance broker to manage her company's liability coverage.
• The insurance broker presented several quotes from different companies for our car insurance.

Advanced Usage

• "To act as an insurance broker": To perform the professional duties of finding and selling insurance policies to clients.
  • After obtaining his license, he began to act as an independent insurance broker.

Variants and Related Words

• Insurance brokerage (n): The business or service provided by an insurance broker.
  • He runs a successful insurance brokerage in the city center.
• Broker (n): A more general term for an agent who buys and sells goods or assets for others. "Insurance broker" is a specific type of broker.
• Agent (n): A broader term for a person who acts on behalf of another. An insurance broker is a specific type of agent.

Synonyms

• Insurance agent: While often used interchangeably, an agent may sometimes represent a single insurance company, whereas a broker typically represents the client and shops among multiple companies.
• Intermediary: A neutral party who facilitates a transaction between two other parties.

Related Phrases

• To broker insurance: To arrange or negotiate insurance contracts.
  • His firm specializes in brokering insurance for large commercial properties.

Noun

1. an agent who sells insurance