First Advisor Insurance Brokers PVT LTD Untitled Document

Role of an Insurance Broker

Role of an Insurance Broker

Why use an Insurance Broker?

An insurance broker acts as your representative not that of the insurance company. Broker’s job is to look after your interests and find the insurance policy best suited to your needs. When you deal directly with an insurer, or through their agent, you are generally only presented with one product and it may not be the best one for you. Brokers are experts in insurance and can arrange the appropriate cover for you from any of the Insurance Companies in India.

What does a broker do?

Broker's job is to look after your interests. We will:

  • Look at your current insurance and make recommendations on any changes or additions if necessary.
  • Identify a range of products suitable for your needs.
  • Contact insurers with appropriate products and get the best deal for you.

When selecting a product for you, we take into account:-

  • The quality and extent of the cover.
  • The reputation of the insurer for paying claims properly.
  • The service standards of the insurer.
  • Whether the premium representsgood value for the cover given.

Which companies does M/S First Advisor Insurance Brokers Pvt. Ltd. deal with?

We extensively research the insurance market and deal with most major insurers including:-

1) Life Insurance Companies

  1. Bharti AXA Life Insurance Company Limited
  2. HDFC Standard Life Insurance Company Limited
  3. ICICI Prudential Life Insurance Company Limited
  4. Life Insurance Corporation of India
  5. Aviva Life Insurance Company India Ltd.
  6. Kotak Mahindra Life Insurance Company Ltd.
  7. Tata AIA Life Insurance Company Ltd.
  8. SBI Life Insurance Company Limited
  9. Reliance Nippon Life Insurance Company Limited

2) General Insurance Companies

  1. Bajaj Allianz General Insurance Company Limited
  2. Bharti AXA General Insurance Company Limited
  3. Cholamandalam MS General Insurance Company Limited
  4. Future Generali India Insurance Company Limited
  5. HDFC ERGO General Insurance Company Limited
  6. ICICI Lombard General Insurance Company Limited
  7. IFFCO Tokio General Insurance Company Limited
  8. National Insurance Company Limited
  9. Reliance General Insurance Company Limited
  10. Royal Sundaram Alliance Insurance Company Limited
  11. SBI General Insurance Company Limited
  12. Shriram General Insurance Company Limited
  13. Tata AIG General Insurance Company Limited
  14. The New India Assurance Company Limited
  15. The Oriental Insurance Company Limited
  16. United India Insurance Company Limited
  17. Universal Sompo General Insurance Company Limited
  18. Edelweiss General Insurance Company Limited
  19. Liberty General Insurance Ltd.
  20. Magma HDI General Insurance Co. Ltd.
  21. Go Digit General Insurance Limited

3) Stand Alone Health Insurance Companies

  1. Apollo Munich Health Insurance Company Limited
  2. MaxBupa Health Insurance Company Limited
  3. Star Health and Allied Insurance Company Limited
  4. Religare Health Insurance Company Ltd.
  5. Cigna TTK Health Insurance company Ltd.
  6. Aditya Birla Health Insurance Company Ltd.

What will use First Advisor Insurance Brokers Pvt. Ltd. cost me?

Our services to clients are free of charge as we get the brokerage from the insurance company with whom the insurance is placed. Besides placement of insurance policy you may also take the advantage of other services viz. lodging claims, advising on insurance administration, providing safety assistance & advice, at no extra cost.

How the Insurance Brokers are different from Insurance agents.

Insurance brokers are different from insurance agents as insurance agents represent a given insurance company, and whereas Brokers represents clients. Insurance agents sell the insurance policy of given insurance company, taking care of the interest of the insurance company (Insurance seller), Whereas Brokers provide Insurance cover as per requirements of the clients, which can suit their business needs.

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