What does the definition of brokers includes?
Brokerage company is a registered and licensed firm who represents the client, rather than the insurance company.
The broker works as an advisor for the interest of the client, and makes sure that the client will get the best insurance policy in terms of cover, prices and services.
How does the broker get paid?
The broker gets a commission from the client through the insurance company as a percentage included in the insurance premium
Which one is more expensive; dealing directly with the insurance company or through broker and why?
Usually having insurance through a broker will cost less than dealing directly with the insurance company, the broker has better knowledge and experience than the client, hence, the broker will be able to obtain better prices and cover.
Why would the client get his companyâ€™s insurance through a broker channel?
The brokers is currently proving itself as an expert advisor who will protect the client interest and handle the whole aspects of insurance which will give the client the peace of mind.
What makes Authorized policy different than other competitor companies?
Based on our business methodology, we at Authorized Policy always focus on the added value service to our partners (clients) and strive to provide our partners with our services at the highest standards and to add AP value along.
What kind of facilities that the client will get by contracting through Authorized policy?
We are working now on launching a call center services that will assist the client in queries and other issues.
Also, we are working on developing our website and ERP in order to provide the client with e-service to have easy access to the clientâ€™s insurance information and submitting requests.
Whatâ€™s the difference between deductible and co-insurance?
Deductible is a flat amount that you have to pay out of your own pocket before covering the remaining eligible expenses. Co-insurance represents the percentage cost that you will need to pay and the insurance plan will pay towards your eligible medical expenses.