Who becomes my insurance agent when i buy insurance online? The web portal i use to buy insurance?
When you are buying the insurance policy directly from the insurance company there are no hidden costs or overheads charged by the company and usually there are no agents involved. So this means the insurer saves on cost as they do not have to pay any insurance commission and pass on the benefit to you with a lower premium.
Agents work directly for an insurance company or agency. Buying insurance from a web portal doesn’t make the portal your agent. An insurance agent is a person who can help you find the right insurance product and answer any queries you may have about your policy.
For example, if you have bought insurance from ICICI, then ICICI is your parent insurance company and you will need to deal with them directly for any questions, advice or issues with your policy.