What is another name for exclusive agents?

Exclusive agents are often referred to as captive agents because they are tied to a single insurance company and represent only that one insurer. This means they have a specific agreement that limits them to selling the products of the company they represent. Captive agents typically receive training and support from their insurer, allowing them to focus on promoting and servicing that particular company's offerings. This model benefits the insurer by ensuring that its agents are dedicated to its products, which can help maintain brand loyalty and customer relationships.

In contrast, independent agents work with multiple different insurers and are not restricted to one company's products. Branch agents operate as part of a network of agents for a single insurance company but may not have the same exclusive arrangement as captive agents. Wholesale agents focus on supplying insurance to other agents rather than dealing directly with consumers. Each of these roles serves different functions within the insurance distribution system, highlighting the unique status of exclusive or captive agents within the market.