In previous articles we have talked about how difficult it is usually for people to take out their first car insurance, because we know that there are many technicalities and elements that must be considered in order to save money when hiring a Policy, that is why in other On occasions we have recommended hiring an insurance Agent also called Insurance Mediators.
As you read, within the team of insurance companies there are people who are located as Insurance Agents and are dedicated to providing support to people who are interested in contracting any of the services or products or those who have already done so. . However, this is not his only task.
Insurance Agents mediate the relationship between an insured and an insurance company. Remember that both parties are bound by a contract, which in the insurance sector is called an insurance policy. In it, the conditions and obligations of both are determined.
This in order to receive a benefit. In the case of the insured, the aim is to have financial protection from an institution in the event of a claim. It can be a Roadside Assistance coverage to deal with a flat tire, a Material Damage coverage or another.
The manner in which assistance is provided is set out in the signed document. For this reason, it is important to read carefully before hiring. It may be that on some occasions compensation is given for a particular fact or with legal, medical or road advice.
In exchange for the services, the insured must cover a fee; which is proportional to the benefits. In this way, the insurer and the member are covered.
What is an Insurance Agent?
Insurance Agents or mediators, who as their name indicates, are advisers who mediate between an insurance company and clients. They are in charge of promoting financial products, but above all of advising each client in a personalized and professional way so that each one can find an insurance that is suitable for their needs. Although its functions do not end at that point, on the contrary, they extend to verify compliance with each of the clauses of an insurance policy.
Many people believe that the insurance advisor works for the insurer and sells insurance at any cost, the reality is that the insurance agent also works for clients and can offer services from different insurers, which allows them to recommend the best insurance according to the customer profile.
This type of collaborator is a type of broker that is prepared following government policies regarding their work activities and those of the companies with which they collaborate. He also has the ability to provide all the information and appropriate means available to the client.
What Do Insurance Agents Do?
Insurance mediators, as their name suggests, carry out a type of regulation between the insurance offered by an insurer and the person who is interested in them. The purpose is to facilitate the relationship and prevent misunderstandings from arising in the commitments acquired, since the relationship involves legal aspects.
For several years, the labor activities of the Insurance Agents were placed around the sale of insurance, and although it is still located as one of them; the truth is that with their professionalization new ones have been consolidated. Here we present some of them:
- Promotion of services of insurance companies.
- Conduct interviews with potential clients.
- Help people find coverage that suits them, that suits their needs and possibilities.
- Explain each of the concepts used in the insurance policy.
- Accompany the insured during the contracting of personal insurance.
- Publicize available offers.
- Expose the modalities of payment of an insurance.
- Share the general conditions of an insurance policy.
- Carry out the corresponding procedures for the sale of a policy.
- Verify that the information provided by customers is safe and correct.
- Verify that the contracted insurance coverage is complied with.
- Maintain current customer portfolio.
What Types of Insurance Do Insurance Agents Sell?
There are many sectors in which an insurance advisor can work, although the most common are Auto Insurance Salesmen.
- Auto Insurance
- Motorcycle Insurance
- truck insurance
- Fleet insurance
- Taxi insurance and other private services
- Merchandise Insurance
- Medical Expense Insurance
- Civil Liability Insurance.
- Insurance for Companies.
- Home Insurance.
- Life insurances.
- Endowment Insurance.
- School insurance.
- Safe for students.
- Gadget Insurance.
Types of Mediators
Just as there are different types of insurance, there are also different types of mediators, since finance and people's assets are a very sensitive issue, professionals who advise on finance issues must be very well prepared and specialized. in each sector.
- Exclusive mediators. They are named in this way because they owe exclusivity to a single company, so that their functions are limited and benefited by the policies of their insurer.
- Linked mediators. Unlike the former, they have the possibility and freedom to collaborate with several companies at the same time.
- Insurance brokers. These professionals have the function of providing advice to people interested in acquiring financial protection but with the particularity of not maintaining a relationship with any insurer.
- Banking-Insurance Operators . They are in charge of carrying out the insurance activity of the distribution networks of credit institutions.
- Reinsurance brokers. They are people who are in charge of mediating reinsurance, specialists in this process.
How an Agent Can Help You Choose the Best Auto Insurance?
After reading what an Insurance Agent is and what their functions are, in general, we will focus on their role in contracting an auto insurance policy; that is, how this member of the insurers can help you get the best insurance for your vehicle.
The first thing you should know is that Insurance Brokers have agreements with different insurance companies; the number is determined by the modality with which the professional develops. The professional may choose to collaborate with a single company, or offer the services of more than two.
So, by having that type of relationship, it is possible for the Agent to have access to specific and official information; which can transmit and expose which is the option that best suits your profile. Not only in terms of coverage, but also in prices. It is important to consider all aspects to find the best option.
What happens is that when a person approaches an Agent, he initiates a diagnostic process where he will identify the particular characteristics of his client. For example, he will know the type of car he drives, the approximate percentage that is available for contracting the insurance, the use of the vehicle and the coverage required.
Subsequently, it will offer a list of the available options and explain each one of them. During the presentation it is possible that doubts arise. The Agent is in a position to resolve them. You can also give the option of contracting additional coverage.
All the alternatives that are presented must be consistent with your profile, in such a way that they make it easier for you to identify the one that best meets your needs.
One of the instruments that Agents can use to tell you which is the best car insurance is an insurance quote like MiSegurodeAuto.mx. Although it is true that these tools can be used by anyone who is not dedicated to the insurance industry, the truth is that having the assistance of an expert always makes a difference.
How to Verify an Insurance Agent?
One of the biggest challenges in the insurance sector are criminal acts that not only affect the economy and integrity of a person, but also alter the work of insurers, since they can make them lose clients.
When seeking professional help such as an Insurance Agent, it is important to verify that it is registered and endorsed by the National Insurance and Bonds Commission (CNSF). One of the organizations created to take care of the rights of users of financial services, such as auto insurance.
All persons interested in selling insurance policies must meet a series of requirements; among them, it is located as the main one, having an authorization certificate as an insurance agent or independent bonds. To acquire it, at the same time, certain protocols must be followed. We can say that this is the way the country's authorities coordinate the provision of insurance.
If you are looking for an Insurance Agent, make sure that they comply with the official regulations, otherwise you could be the victim of a scam.
With which Insurance Companies do you work with Insurance Brokers?
Car insurance is considered transit requirements, since since 2019 the law established that at least a minimum Civil Liability coverage must be available to respond for the damages that we cause, to third parties, with our car accidentally.
Therefore, the offer of insurance in the country is wide, most insurers offer 4 coverages:
- basic coverage
- Limited Coverage
- Comprehensive coverage
- Broad Plus or Elite Coverage
More than 20 insurers have a presence in the country and have the possibility of issuing insurance policies. For the selection of any, the profile of the driver to be insured is taken into account.