What Is The Difference Between Insurance Brokers And Insurance Aggregators?

The #insurance industry is vast and complex, with various players offering different products and services. Two common players in the industry are insurance brokers and insurance aggregators, but what exactly is the difference between the two?

Insurance #brokers are licensed professionals who act as intermediaries between insurance companies and customers. They work on behalf of their clients to find the best insurance products that meet their specific needs and budget. Insurance brokers have a duty of care to their clients, meaning they must act in the best interest of their clients and provide unbiased advice.

On the other hand, insurance #aggregators are online platforms that allow customers to compare and buy insurance policies from different insurance companies. Aggregators typically earn a commission from the insurance companies for each policy sold through their platform. While aggregators may provide customers with a convenient way to compare insurance products and prices, they may not always offer unbiased advice.

Ultimately, the choice between using an insurance broker or an aggregator depends on the customer's individual needs and preferences. Customers who want personalized advice and a more hands-on approach may prefer to work with an insurance broker, while those who prioritize convenience and ease of use may prefer to use an aggregator.

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