These intermediaries can deal with placing commercial and personal risks.
An insurance wholesaler, also known as an insurance broker or surplus lines broker, is a specialized intermediary between insurance carriers and retail insurance agents or brokers. They play a crucial role in the insurance industry by facilitating the placement of coverage for risks that may be difficult to insure in the standard insurance market.
For example, if a retail broker is approached by a client looking to insure -e.g. A restaurant that sells alcohol - the retail broker can use the services of a wholesale insurance broker to obtain a quote and sell a product to their client, even if they don’t have direct access to an insurer that writes this type of business.
Here, at London Underwriters, our team provides the retail agents with the right guidance for their clients insurance needs; we also provide 10+ insurtechs (insurance+technology) for small businesses to quote and bind online without any acords or applications.
If you want to experience streamline insurance, you can get appointed with us today to unlock 95% of the classes available with our insurtechs.