Functions of a direct broker — (as per Brokers Regulations)

The functions of a direct broker shall include any one or more of the following:

Obtaining detailed information of the client's business and risk management philosophy,

Familiarising himself with the client's business and underwriting information so that this can be explained to an insurer and others,

Rendering advice on appropriate insurance cover and terms,

Maintaining detailed knowledge of available insurance markets, as may be applicable;
submitting quotation received from insurer/s for consideration of a client,

Providing requisite underwriting information as required by an insurer in assessing the risk to decide pricing terms and conditions for cover,

Acting promptly on instructions from a client and providing him written acknowledgements and progress reports,

Assisting clients in paying premium under section 64VB of Insurance Act, 1938 (4 of 1938),

Providing services related to insurance consultancy and risk management,

Assisting in the negotiation of the claims, and maintaining proper records of claims.