Definition: Who Insurance Bank in India: A person who manages or handles insurance policies on behalf of others. Definition: 1. Insurance broker: An individual or agency that acts as a middleman between customers and the insurer, providing quotes, negotiating terms, and handling claims. They often work for larger financial institutions and have access to vast amounts of information about different insurers to make informed decisions. 2. Insurance agent: An agent who represents an insurance company or other firm in negotiations with customers. In India, a large number of agents exist and are known by their names or service marks. Agents can offer various services including personal accident, property insurance, health insurance, and more. They also handle claims on behalf of customers. 3. Insurance broker: An individual or agency that acts as an intermediary between the customer and the insurer to provide quotes and negotiate terms. In India, a large number of brokers exist and are known by their names or service marks. They often work for larger financial institutions and have access to vast amounts of information about different insurers to make informed decisions. 4. Insurance agent: An agent who represents an insurance company on behalf of customers. In India, a large number of agents exist and are known by their names or service marks. Agents can offer various services including personal accident, property insurance, health insurance, and more. They also handle claims on behalf of customers. Note: - The term "insurance bank" is used to refer to an institution that offers financial products like insurance policies, life assurance, retirement savings plans, and investment opportunities. - In India, there are various insurance banks operating in the country, such as HDFC Bank, Axis Bank, and United Bank for Special Purpose Vehicles (UBSPVs) under the Union Bank of India Ltd.
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