YOGYAKARTA - Some people still do not understand the differences between agents and insurance brokers. Although both work in the insurance industry, both have different roles and goals.
The term agent and broker is familiar in the insurance world, especially for those of you who want to buy insurance. These two types of jobs are required to have permission from the Financial Services Authority (OJK). If both of them become intermediaries between buyers and insurance providers, then what is the difference between agent and insurance broker?
For the general public, the work of insurance agents and brokers seems the same at first glance. However, there are a number of things that distinguish the two professions, namely from their duties and ways of working. These two jobs have also been regulated in the Law and Government Regulations.
For those of you who want to buy insurance, make sure to understand the differences between insurance agents and brokers so you don't choose the wrong purchase process.
Insurance agents are individuals or legal entities that offer various products from insurance companies. Under Law Number 40 of 2014 and Government Regulation Number 63 of 1993, insurance agents are referred to as individuals or working on business entities whose activities provide insurance services for and on behalf of the person in charge.
Insurance agents work for one insurance company only. In carrying out their duties, insurance agents must have a license from the Indonesian Life Insurance Association (AAJI). Before selling insurance products to potential customers, insurance agents must already have a permit and agree to an agreement with an insurance company.
Insurance brokers are companies or legal entities that work to ensure that customers get professional services for the insurance they buy. Based on Law Number 40 of 2014, insurance brokers are referred to as companies that provide aerospace services in closing insurance and handling insurance compensation settlements.
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Unlike insurance agents that work for one company, insurance brokers are formed by the government as an extension to guarantee protection for insurance users.
The insurance agent works to represent the professional interests of an insurance company, in marketing and presenting its service products to potential customers. Meanwhile, insurance brokers work for the benefit of customers, as the insured insurance consultant.
That's a review of the differences in insurance agents and brokers. Although there are differences in terms of work and work, both will help potential customers to recognize and follow up on insurance products they want to buy.
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