Policy Writing Agent
What Does Policy Writing Agent Mean?
A policy-writing agent is an agent who has the legal authority from an insurance company to write policies on its behalf. These agents may work exclusively for one insurer or may sell policies for multiple insurers. Agents working exclusively for one company are referred to as captive agents, while those who represent multiple insurers are known as independent agents.
Insuranceopedia Explains Policy Writing Agent
Policy-writing agents must have a strong understanding of the products they are selling on behalf of the insurance company they represent. This knowledge is crucial for marketing and selling the right products to the appropriate customers. Failing to do so could lead to negative consequences for either the insurer or the policyholder. Additionally, policy-writing agents need to be familiar with the market to sell effectively. In simpler terms, they act as intermediaries between customers and the insurer. When they perform their role well, all parties involved can benefit.
