The only ways of insurance are as follows:
- Direct from the insurance company
- Through Insurance Agent (Former Insurance Advisor)
- Through Broker
What benefits you and what do you get from each insurance distribution channel?
Below we give you the definitions by law (source:Bank of Greece) and a graphical chart to see at a glance the most basic differences
«Security Agent'Is the natural or legal person who carries out the activity of distributing insurance products in the name and on behalf of one or more insurance undertakings.
«Insurance and reinsurance broker'Is the natural or legal person who, by written order of the client, carries out the activity of distributing insurance and reinsurance products on the basis of an analysis of a sufficient number of insurance contracts placed on the market; without being bound by the choice of insurance or reinsurance undertaking.
In the table we tried to identify the most basic differences and give them a simple score to facilitate understanding:
the score 3 : Means provided
rating 2 : Does it mean that it is provided on a full or conditional basis?
the rating 1 : It means that it is not provided or not sufficiently provided
Obviously the higher the average score, the more ideal the solution for you!