III IC-103 Practice Questions - III IC-103 Distribution Channels Management Exam

What distinguishes an insurance broker from a corporate agent in the Indian market?

A broker represents the customer, while a corporate agent represents the insurer A broker can only sell non-life products, whereas a corporate agent sells life products A broker requires less capital to start than a corporate agent A broker cannot collect premiums, while a corporate agent can

Correct Answer:

A broker represents the customer, while a corporate agent represents the insurer

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