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An ................... is a professional who represents consumers in their search for the best policy for their needs.
insurance broker
An arrangement between a bank and an insurance company allowing the insurance company to sell its products to the bank's client base.
bancassurance
Someone who is paid by a financial organization to sell and give advice only on its investment products, not on those of its competitors.
tied agent
An amount paid for fixed assets, for expenses related to the acquisition of a new customer, or for the takeover of a competitor.
acquisition cost
A single payment made at a particular time, as opposed to a number of smaller payments or instalments.
lump sum
In insurance, a certain percentage of premium produced that is retained as compensation by insurance agents and brokers.
commission
A professional who offer independent advice on financial matters to their clients and recommend suitable financial products from the whole of the market.
independent financial advisor
.................simply means the customers reach out to the insurer directly to buy a product.
Direct sale
The insurance ............. is the sum of money an individual or business must pay for aninsurance policy.
premium
Thee part of an insurance claim to be paid by the insured.
deductible
................ is the complete and full revealing of information relevant to a particular issue.
Disclosure
a breach of a duty of care which results in damage
negligence
