An insurance marketplace/brokerage specializes in insurance and risk management. These companies have Advisors or Brokers to act on behalf of their clients. They provide professional advice on what products and coverages they need for their specific situation or family. These Advisors/Brokers can help arrange and place the coverage with the chosen insurance company.

Essentially, advisors and brokers are the same. They are licensed professionals in the insurance business that can help answer all your insurance-related questions.

Insurance Advisors/Brokers sell many types of insurance, including health, home, auto, accident, and life.

An insurance brokerage gets paid a commission when they sell a policy. Similar to a Real Estate agent they represent lots of properties and make a commission when they match a seller with a buyer.

If you’re just getting insurance for the first time or are looking to save time, Insurance Advisors/ Brokers can help provide advice and do all the heavy lifting for you. They can contact leading insurance providers to compare prices and coverages. It’s also a great way to save money on insurance as you can easily compare all the prices in one spot.

Every company structure is different. Some earn a salary and have a book of clients they manage and some make money off of commission structure, where they receive a % from every insurance policy they sell.