Regulation of internal relations in brokerage and representation business

Abstract

It is known that business activities of insurance brokers and representatives consist of two parts. The first part is external and concerns communication with insured persons, that is, cooperation with an insurance company. The second part is internal and involves regulation of relations in brokerage or representation itself or another organization. The subject of this paper is precisely the second part. Focus of the research is on several items. The first is the organization of work as one of the basic starting points. Starting from the importance of personnel, we analysed issues regarding employees, and then the sustainability of finances as an indicator of the financial success of a business venture. A special chapter is dedicated to the broker and the representative as the manager. Conclusion states that the regulation of internal relations among these insurance market participants provides a significant number of opportunities, along with numerous challenges. Priority is the necessity of maintaining specific features by which the most successful brokers and representatives will differ and stand out.