Brokerage - Insurance Software development

What is the difference between an Insurance Agency and a Brokerage firm?

Author - Webner
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4:42 am
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Insurance agency

An insurance agency is a firm authorized to sell insurance products to the insured in exchange for compensation (commission) from a carrier. Insurance firm agents always work under the guidance of the state in which they work. Most insurance agencies are independent and sell products from different carriers, but there are some agencies that only sell the products of one insurer, so they are not able to compare prices and features of other products on the market. An insurance agent is paid a salary by the insurance business, as well as a commission or bonus based […]

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