What exactly is a brokerage firm?

What exactly is a brokerage firm?

What exactly is a brokerage firm?


Some ideas are hard to let go of… in insurance too!

Many still believe “a broker obviously gets a commission as payment… so, I hardly see the point as it will be more expensive; just go directly to the insurance company! And their offer will obviously be less extensive than a legit insurance company“

But, that’s all completely wrong!!

If you want a “custom” insurance solution, it’s much better to go knocking on an insurance broker’s door as they can choose from among all their partners to offer you insurance with the best quality/price ratio.


Did you say an insurance broker?

Brokers are above all insurance professionals who use all their skills and market knowledge to help their clients: they work as intermediaries with insurance companies. Brokers are fully independent of insurance companies unlike sales reps, company employees and agents. This independence means brokers have more objective perspectives when advising their clients on a rather richer offer that will adapt better to their specific needs and at just the right price. Brokers manage the client relationship from A to Z, particularly guiding them to define their needs, orienting them towards the most well-suited insurance company offer and then managing all administrative aspects of the contract including filing claims. While agents work with fixed goals set by the company they represent and promote that company’s products , brokers represent their clients. The rates provided by a brokerage firm are identical to those applied by insurance companies in other distribution channels (internet, sales reps, agents…), but there’s more choice! INOV Expat works with more than 20 leading insurance companies on the market to find the most competitive prices.


In the event of an incident, who do I call?

An accident, a leak… call your broker. They will manage everything for you! In fact, a brokerage firm offers comprehensive services ranging from the initial document gathering for your insurance application and filing claims with the company to sending a service provider to repair your leak, for example. And, don’t forget another important task performed by a broker: ensuring your rights and making sure the company fulfils all of its obligations under the contract in the event of an incident. The volume of contracts a broker manages not only provides for powerful negotiation but also certain neutrality: a broker is truly a client’s ally and guarantees the client’s rights will be defended in any situation.


And what if my premium goes up?

The price of your insurance may go up because of objective factors such as a higher accident rate, the depreciation of the insured property, an increased insured risk or even adjustments to the consumer price index. However, increases can also sometimes be “opportunistic” and unjustified: that is another benefit of choosing an insurance broker! In fact, in such cases, brokers as insurance market professionals know how to advise and guide you towards other offers or can renegotiate a lower premium on your behalf with the insurance company. When you buy insurance through the habitual sales channels (internet, an agent, direct from the insurance company), it is much more difficult to argue a premium increase or renegotiate!

So, how does a broker earn money?

Brokers are compensated with commissions paid by the insurance companies based on the number of sales made.


About us

INOV Expat is an insurance brokerage firm aimed at French-speaking expatriates in Spain and now in Portugal as it has signed partnership agreements with the best insurance companies on the market. We know just how much moving to another country can bring about a lot of surprises and procedures which are sometimes quite complex. So, ever since its foundation in 2004, INOV Expat has not only aimed to assist its expatriate clients search for “custom insurance” but also defend their rights in the event of a claim.


Our missions

Comparing as a gauge for quality

To guarantee the quality of the services provided by insurance companies, INOV Expat must constantly compare the various offers available on the insurance market in order to always get the most ideal prices and services. We are always monitoring all of our partner companies’ financial solvency and speed of response and payment of claims.

Defending clients’ rights

With INOV Expat, you no longer have to be in direct contact with the insurance company as our French and English-speaking advisors are ready to help you. We file claims and are on your side to guarantee and defend your rights in the event of a dispute. Plus, with INOV Expat, there’s no need to be fluent in Spanish or Portuguese as all our advisors speak French.

Rigorously selecting our partners

INOV Expat must be very selective when choosing its partners in order to guarantee INOV Expat clients will not be affected by any insolvency or payment default risks if they are to receive compensation for a claim.

Practical info

Ask for your free online quote: automobile, health, home, business, travel, or other insurance or contact us by email at [email protected].

What exactly is a brokerage firm? 1

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