Which is the better option: working with an insurance broker or an insurance company?

For each type of insurance, there is a wide range of options and solutions. When it comes time to choose, is it best to contact an insurance broker or an insurance company? Who can help you choose the best solution from among the many available on the market? And who offers the most advantageous solutions for our personal and family protection insurance?

Find the answers to these questions in this article and learn:

• What Does an Insurance Broker Do?;
• What are the advantages of working with an insurance broker?;
• How to Choose a Good Insurance Broker.

What Does an Insurance Broker Do?

The Insurance Broker helps clients choose the best insurance solutions by assessing their needs and looking out for their best interests in a unique way. The broker uses a simulation process based on the data collected to find the products best suited to each client’s specific situation.

The insurance brokerage firm’s commitment is exclusively to the client, and this personalized service instills confidence and builds a lifelong relationship based on trust. 

What are the benefits of working with an insurance broker?

Ensures impartiality

Insurance brokerage firms operate impartially and present clients with the best products on the market, regardless of which insurance company offers them. Insurance companies, on the other hand, naturally present only their own products.

Helps you save money 

The insurance broker analyzes the options available on the market, a task that requires time and expertise. After gathering information about the client’s needs and running various simulations, the broker selects the most advantageous solutions, saving the client both time and money.

Ensures customization 

An insurance broker differs from an insurance company in that it provides personalized services both before the policy is purchased and throughout its term, through specialized consultants who are available to advocate for the client’s interests.

Provides counseling 

Throughout our lives, we’ll need different solutions for personal and family protection. An insurance broker is a trusted advisor who already knows us and will help us tailor our contracts and policies to the different stages of our lives.

Provides clear information

A lack of understanding of the expressions and terms used in the insurance industry can sometimes lead to poor choices and misunderstandings regarding coverage. The insurance broker simplifies the language of insurance policies and answers all your questions.

It offers everything at no cost 

Does purchasing insurance through an insurance broker cost more than buying it directly from the insurance company? No. Insurance brokerage firms operate under agreements that can actually make your insurance more affordable, and the work they do to analyze and assist you is completely free.

How to Choose a Good Insurance Broker?

Trust should be the foundation for choosing an insurance brokerage firm. To that end, it is important to follow these steps:

Learn About an Insurance Broker's Reputation

Market leadership is achieved through the quality of services provided, the expertise of professionals, in-depth knowledge of the industry, and public recognition.

Check out this example of excellence from EXS, a trusted insurance brokerage firm:

• Ranked among the TOP 10+ in the Financial Services and Insurance sector;
• It is ranked among the TOP 5% of Portugal's Best SMEs.

Check Negotiation Skills

Choose a broker who works on a non-exclusive basis. In addition to its independence, EXS has strong negotiating skills, as it works with 26 of the country’s leading insurance companies.

Confirm Custom Services

A good insurance broker stands out for providing a high-quality service. The best options are mediation firms that have specialized consultants in the industry and provide personalized service tailored to the customer's needs.

Demonstrate expertise through testimonials from other customers

Find out what people are saying about the insurance brokerage in question and how they rate their experiences, and evaluate aspects such as:

• Excellent customer service;
• Commitment and availability;
• Effectiveness of the response;
• Great value for the price.

Find out what the exclusive benefits are

The benefits that an insurance broker can offer through the protocols and partnerships which they have with insurance companies, allow them to offer solutions tailored to the customer and with lower costs. Weigh the benefits and make your choice.

Choose an Insurance Broker with a proven track record 

Now that you know the benefits of working with an insurance broker, rest assured that you can trust EXS, which meets all these criteria to manage your insurance needs with excellence and at no cost.

Choose an insurance broker with a strong market presence that is well-regarded by insurance companies. Choose EXS, an insurance broker with over 25 years of experience.