{"id":1574,"date":"2021-05-15T11:56:35","date_gmt":"2021-05-15T11:56:35","guid":{"rendered":"https:\/\/exs.suba-agency.com\/?p=1574"},"modified":"2026-07-24T13:41:24","modified_gmt":"2026-07-24T13:41:24","slug":"the-role-and-responsibilities-of-mediators","status":"publish","type":"post","link":"https:\/\/exs.pt\/en\/blog\/the-role-and-responsibilities-of-mediators\/","title":{"rendered":"The Role and Responsibilities of Mediators"},"content":{"rendered":"
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According to the ASF (Insurance and Pension Funds Supervisory Authority), there are more than 10,000 insurance brokers in Portugal, a figure that clearly demonstrates the growing importance Portuguese consumers place on personalized service and the ability to choose.<\/p>\n

Although insurance is part of everyday life for every Portuguese person, many consumers still think of an insurance broker as nothing more than an \u201cinsurance salesperson.\u201d Nothing could be further from the truth.<\/p>\n

In fact, the role of the insurance broker goes far beyond simply selling or advising on insurance; in practice, it is,\u00a0a specialized consultant who represents the client's interests, helping them find the best coverage at the best price, in accordance with current law and market conditions<\/strong>.<\/p>\n

To learn more about the role and responsibilities of insurance brokers and why they should be a key consideration in your search for insurance, join us on this journey through the insurance brokerage market.<\/p>\n

What is a mediator?<\/h3>\n

After all, what is the purpose of a mediator?<\/p>\n

To answer this question, it is important, first and foremost, to distinguish between two terms that often seem to cause a great deal of confusion among consumers: agent, broker, and mediator.<\/p>\n

Here, then, is the meaning of each of these professional categories related to the insurance industry:<\/p>\n

Insurance Agent<\/h4>\n

An insurance agent\u00a0is a professional who acts on behalf of one or more insurance companies and\/or brokers<\/strong>.<\/p>\n

In practice, an insurance agent is a legal representative or agent of insurance companies whose role is to sell these companies\u2019 products (insurance policies) under the agreed-upon contractual terms.<\/p>\n

Although this is not part of their job description, the agent may, as part of their work, offer advice to the client.<\/p>\n

Insurance Broker<\/h4>\n

An individual or company that, as the name implies, acts as an intermediary in the conclusion of an insurance contract between the customer and the insurer and must be legally authorized by the ASF.<\/strong><\/p>\n

More specifically, the insurance broker seeks to assess the client\u2019s needs and, based on those needs, offer the most appropriate coverage.<\/p>\n

Its role, however, does not end there.<\/p>\n

Once a client requests their assistance, this professional not only researches and compares different insurance policies but also assists with the execution, implementation, and management of the insurance contract throughout its term.<\/p>\n

In addition to helping your client make an informed decision, the mediator will assist them in resolving claims while keeping them informed about current legislation and potential new coverage options that offer better value for money.<\/p>\n

In other words,\u00a0The mediator provides the client with a 360-degree service<\/strong>\u00a0that remains in effect for the entire term of the contract.<\/p>\n

The Role of the Mediator<\/h4>\n

This professional\u2019s role is to provide clients with the guidance they need to make an informed decision that meets their needs.<\/p>\n

This role of searching, comparing, and advising\u2014in strict compliance with ASF guidelines\u2014is accompanied by something that is very important for a consumer who is not familiar with insurance: the translation of technical language.<\/p>\n

For example, just as it can help you to\u00a0Compare life insurance policies linked to a mortgage<\/a>\u00a0In addition to comparing your policy with other, more advantageous options available on the market, this professional also helps you understand technical terms such as policy, claim, degrees of disability, coverage, waiting periods, deductibles, and policyholder.<\/p>\n

Thus, in a personalized and specialized manner,\u00a0The insurance broker supports you from the moment you start looking for insurance until the moment you file a claim and need assistance.<\/strong><\/p>\n

\"Insurance<\/p>\n

Legal and Conduct-Related Obligations<\/h3>\n

In order to perform their duties, insurance brokers must comply with certain legal and ethical obligations.
\nAmong the most important are:<\/p>\n