Friendsurance Quiz Part IV: Insurance Basics

There is no difference.

An insurance agent works for a specific insurance company, while an insurance broker offers a variety of insurance policies from different insurance companies.

Insurance brokers only mediate property insurance, while insurance agent mediate life insurances.

To collect and save contact information’s of partners

It is a marketing tool to analyze and evaluate customers activity

The insurance companies and the current procedure (upgrade/cross selling) are being stored here

No

Yes

Maybe

It is possible that we do household, liability insurance directly with Alte Leipziger, while the other segments, such as life and health insurance, is being dealt with via pools. So just because it says „Anbindung über Pool" does not need to mean just pools.

We have a special cooperation with the insurance company, i.e. they pay us higher provision.

We have no cooperation with them, but still serve their customers on a free basis (no commission).

It’s the same as insurance broker or tight agent.

They cancelled our „Courtagezusage“ (contract).

We have a cooperation with them.

We have no cooperation with them at all and we act as an „Korrespondenzmakler“.

We cancel the customer's contract.

The customer finalizes more than just one contract with Friendsurance.

We adjust the deductible of an existing contract, so that the premium difference can become a cash back for the customer.

We put the customer in a policy with a deductible.

The customer already possesses an insurance policy and does not need any further handling.

Cross selling generally means selling additional contracts to an existing customer, e.g. to make sure the customer has insurance contracts where they can get a cash back. But it can also mean that his/her existing insurance tariff does not support our claim-free-bonus (schabo) and therefore we need to transfer him/her to another insurance carrier which offers the bonus.

A person provided by the insurance company to support insurance brokers

An online platform where insurance brokers can ask questions (FAQ)

A cooperation partner of Friendsurance

New insurance tariffs that are being published yearly by insurance companies.

It’s a function in the Admin Tool.

A customer switches from his/her old broker to Friendsurance, so that Friendsurance becomes the broker and is registered as such by the insurance company.

More than 4

More than 70

More than 27

All property insurances

Life,- and health insurance

Household, Liability insurance and legal insurance

PMA, Blau Direkt, Fond Finanz and Jung, DMS & Cie

PMA, Blau Direkt, Aurora and Maxpool

PMA, Blau Direkt, Maxpool and Fond Finance

Is2 “insign”.

SignoTec

DocuSign