Glossary

Insurance agent

Also called individual agent, tied agent.

An individual appointed by an insurer to solicit and service its insurance business.

An insurance agent is licensed and appointed by an insurer, and represents that insurer. An individual agent may hold an appointment with one life insurer, one general insurer and one health insurer.

Because an agent represents the insurer rather than the whole market, they cannot compare across insurers. A broker is the type of intermediary that does.

Related terms

  • Insurance broker An intermediary that represents the customer and can place business with multiple insurers.
  • Corporate agent A company, firm or bank registered to distribute insurance, as distinct from an individual agent.
  • Commission The payment an insurer makes to an intermediary for placing and servicing business.

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