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Wholesale Insurance Broker .com
Types of Brokers
Welcome to WholesaleInsuranceBroker.com!
In the world of insurance there are multiple levels of sellers, middlemen, suppliers, underwriters, and at the
end of it all, consumers. In this midst of this sometimes confusing and multi-layered industry exists wholesale
insurance brokers. At first, one might try to compare them to some kind of retail wholesaler, managing bundles
of insurance lines to distribute to local agents; the wholesale insurance brokerage works somewhat the same
way. They work directly with insurance providers, they sell to agents and first line sellers, and they rarely
connect with consumers.
The Broker
Most people are familiar with retail sales end of
insurance dealing with insurance sales agents.
These folks either work out of branch offices of their
mother company or they work as independent
agents covering a number of different insurance
products and companies. However, retail sales
agents do not function as wholesale brokers.
Behind the retail sales agents there is another layer of agents who work primarily with other
insurance agents and no consumers at all. Successful wholesale brokers gain their success by
building a portfolio of clients very similar to retail sales agents and their number of consumer
clients. The bigger the client base, the more income that comes in for the agent of either type
due to commissions.
Wholesale insurance agents are not limited to just their company's line of products. In fact
many wholesale agents are independent operators. Being free agents, wholesale insurance
brokers can take advantage of connecting with and selling a variety insurance products, some in
very obscure niches and specialties. Most average retail agents would never get close to such opportunities and the large amount of dollars involved in
these obscure insurance coverages.
By definition the wholesale broker functions in an intermediary role that operates between retail agents and major insurance providers yet these agents
are not contracted in any way with the party that is finally insured.
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