Insurance brokers. Image credit

Insurance brokers. Image credit

ZIMSEC O Level Commerce Notes: Insurance: Functions of insurance brokers

Functions of insurance brokers.

  • They bring into contact the public seeking insurance cover and insurance companies.
  • Are agents of insurance companies.
  • Gather information on insurance companies or types of policies that these offer.
  • Give expert advice to prospective policyholders.
  • Advise on how losses can be avoided.
  • Obtain several quotations from different insurance companies.
  • Choose the best policy for their clients.
  • Obtain the best terms for their clients.
  • Assist clients with the completion of proposal forms.
  • Effect a policy for a client.
  • Charge commission on contracts made.
  • Assist clients in claiming compensation.
  • Arrange re-insurance for clients.

To access more topics go to the Commerce Notes page.

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