What is a Broker or Insurance Agent?

Many times people confuse an insurance broker with an insurance company salesman, a bank salesman, an inspector or someone else. That is why it is important to know who the insurance broker is.

The insurance broker, or also called insurance agent or insurance producer, is the natural or legal person who advises the client to obtain the best insurance coverage at the most convenient prices. The insurance broker is the intermediary between the insurance company and the client.

In addition, the insurance broker is registered with the Superintendency of Banking, Insurance and Pension Funds (SBS) and is also authorized to defend his client in the event of a loss. For natural persons their SBS registration number begins with N and for legal persons their SBS registration number begins with J.

Why hire an Insurance Broker or Insurance Agent?

Some people think that by hiring an insurance broker they are going to have to pay him for the advice, but this is not the case. The insurance company is the one that pays a commission to the insurance broker for the intermediation made, the client pays absolutely nothing to the insurance broker.

Never a person should hire an insurance directly with the insurance company or the bank, the client should always hire an insurance through an insurance broker. Although it is important to know about the insurance broker’s experience and the support he has.

The customer should hire an insurance broker because, by working with all insurance companies, the broker will give you the best market conditions for your policies, you will get the lowest prices; and in case of a claim, you will get advice to obtain the maximum compensation from the insurance company. And also, as we mentioned, it does not have any additional cost.

Functions and advantages when contracting an insurance broker:


Insurance brokers are registered with the Superintendency of Banking, Insurance and Pension Funds (SBS) and are constantly and permanently subject to supervision, control and inspection.

Total Independence

An Insurance Broker or Agent maintains his total independence and impartiality when selecting the best conditions for the real needs of his client. Therefore, he can get an adequate coverage to his clients, since he handles all the insurances of all the insurance companies that exist in the market.

Also, depending on the weight and experience of the insurance broker to negotiate with the insurance companies, the client can obtain special coverage and lower prices.

Personalized, professional and technical advice

An exclusive and unique feature of Insurance Brokers is Technical Analysis. Before taking out an insurance policy, an Insurance Broker will carry out a study and analysis for his client that will motivate the insurance options selected according to his good judgment and professional experience.

The client has the complete assurance that his Insurance Broker will always analyse several insurance companies, products and conditions, before presenting the offer that best suits his needs.

Represent the client before the insurance

Another of the functions of the Insurance Broker is the fundamental role of representing and defending the interests of his clients before the insurance companies.

The law grants him this power with full capacity to negotiate with companies on behalf and representation of his clients in all matters related to their insurance contracts.

Professional Liability

Insurance Brokers have, by law, SBS Professional Liability Insurance to protect their clients.

Financial Ability

Insurance brokers or brokers who are legal entities have the financial capacity required by the SBS.

Knowledge, skills and experience

Insurance brokers have sufficient knowledge, skills and experience for the proper development of their work, given their previous and mandatory training in financial, insurance and legislative matters.

Efficient management and after-sales

The Insurance Broker permanently assists its Client throughout the entire duration of the Insurance Contracts, controlling their execution and constantly reviewing that they continue to be adapted to the client’s needs, monitoring the correct compliance by the insurance companies and informing them of each and every one of the legislative novelties that may arise and which are of obligatory compliance.

Hiring an insurance broker is free of charge

Another huge advantage of having an insurance broker is that it doesn’t cost anything. This is because the insurance company is the one that pays a commission to the insurance broker for its intermediation.

Advice and defense of the client in case of loss

In the event of a claim, the Insurance Broker or Agent advises his client to obtain the maximum compensation. He is like his lawyer in front of the insurance company.

It is well known the saying “facing the insurance company without your broker, is like going to court without your lawyer”.


At no cost, we keep our clients and underwriters informed through insurance newsletters with current news, expert opinions, analysis, behavior of the insurance market in Peru and the world, statistics, trends, technology applied to insurance, advice to make the best decision when contracting policies, new laws and resolutions and much more.

Extranet people

Online service under a technological platform designed for our natural persons customers, providing them with direct access to information on their policies, financing, terms, endorsements, procedures, downloading of pdf documents.

Corporate Extranet

Providing them with direct access to information on their policies, financing, terms and conditions, endorsements, procedures, downloading documents in pdf, updating data, updated invoices, list of active and inactive insured parties, statistics and much more.

This tool becomes a good ally for the accounting, administrative and financial areas.

Technologies for the corporate world

In cooperation with our technology company belonging to our business group, our client’s or the insurance company’s system can be linked to our customized web platform with analysis capabilities (Analytics Platform) and can interact with our insurance management system in order to manage risks in an optimal way. We know that good analysis is very important in decision making.

New technologies have a great impact on business competitiveness. This technological change, where people are more knowledgeable in the use and benefits of information and communication technology tools and services, is causing social change. And this social change has a direct impact on how companies are organized and how they relate to their customers.

Everything is not something new for us, but it is our habitat, that is our terrain. So we become a strategic ally for our corporate clients.