Insurance broker system
Insurance broker is an individual person who works in other to achieve insurance contract. It is working for insurance contractor in ceding insurer market and working for ceding insurer and inward reinsurance company in reinsurance market.
Insurance brokers are divided up into life insurance brokers and non-life insurance brokers. Life insurance brokers mediate the conclusion of insurance contracts underwritten by insurance companies which conduct life insurance business or its reinsurance business and mediate the conclusion of reinsurance contracts written by foreign insurance companies.
Non-life insurance brokers mediate the conclusion of insurance contracts underwritten by insurance companies which conduct non-life insurance business or its reinsurance business and mediate the conclusion of reinsurance contracts written by oversea insurance companies. Also non-life insurance broker provides a risk management service and helps development of new products as well as giving claim advices for their clients.
1. Risk management
There is an insurance wherever risk exist. Insurance broker offers the most suitable risk management scheme to potential risk as well as existing risk that we already have insurance product through proper risk analysis.
2. Insurance plan and a new product development
Due to the large number of insurance products and changes of risks, clients only recognise the name of insurance product but not the in depth details.
insurance broker guides proper insurance product to clients with professional skills and takes part in product development when there is no suitable products for the needs.
3. Insurer choice
There are many insurance companies since insurance liberalized. Client can choose best insurance company with insurance broker's knowledge to maximise their benefit.
4. Advice for request of insurance claim
Clause 94 of the regulation of insurance supervisory defines the work of insurance broker that says they have the right to advise a claim of insurance money.
The process of insurance mediation
Comprehensive insurance management service
On a base of highly expert knowledge and extensive insurance information, insurance broker offers comprehensive insurance and risk management services from conclusion of insurance contract to claim service on behalf of enterprise customers.