Themes across the pond
In the US, the intermediary market is split into agents and brokers but, differences aside, both markets face the same challenges
Talking to my colleagues at our corporate headquarters in Minnesota the other day, the conversation soon turned to the current state of the broker markets on either side of the pond.
It was amusing to identify certain common trends and issues but there are some significant differences too. In the US, the intermediary market is split into agents and brokers. Agents are contractually tied to one or more insurers and act as those companies' advocates or sales force.
Brokers are independent beasts
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