|
BROKER |
VS |
AGENT |
|
Represents Customer |
 |
Represents an Insurance Company |
|
Broker is authorized
to sell products of all Insurance Companies |
|
Agent can sell products of only one
Insurance company |
|
Impartial Products
comparison facility available for customers’ benefits |
|
Could be a limitation |
|
Trained & Qualified
Insurance personnel as per IRDA guide lines |
|
Qualification: As per, IRDA guidelines |
|
A Corporate Structure,
licensed by IRDA |
|
Generally an Individual, appointed by an
Insurance Company |
|
Capital adequacy,
Infrastructure and strict monitoring by IRDA |
|
Monitored by Insurance Company / IRDA |
