Okuzeka
Insurance vocabulary · Brokers, Agents & Distribution

Intermediary

Meaning in insurance, with examples

/ˌɪntərˈmiːdieri/nounCommon term

In insurance, intermediary means: A person or firm, such as an agent or broker, that stands between customers and insurance companies and arranges policies.

In Turkish: sigorta aracısı, aracı

How it is used

A formal umbrella term used in regulation, reports and contracts. Regulators license and supervise intermediaries, and insurers decide how much business to write through intermediaries and how much through direct channels.

Example sentences

  1. About 70 percent of our premiums come through intermediaries.

  2. The regulator published new conduct rules for insurance intermediaries.

Common collocations

  • insurance intermediary
  • through intermediaries
  • intermediary channel
  • licensed intermediary
  • brokerAn independent intermediary who acts for the customer, compares offers from different insurance companies and helps arrange the most suitable policy.
  • insurance agentA person or business that sells policies on behalf of one or more insurance companies and earns a commission on each sale.
  • bancassuranceThe sale of insurance products through banks, usually to the bank's own customers at branches or through digital banking.
  • commissionA payment, usually a percentage of the premium, that an insurance company pays to an agent or broker for selling a policy.

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This page explains English vocabulary for learners. It is not financial advice.