American agency system

American agency system,

Definition of American agency system:

  1. While many insurance customers these days are accustomed to calling different insurance companies and comparing quotes online, an independent agent, working in the manner known as the American agency system, does the work of researching different policies and companies on the customer's behalf. This may help a customer obtain a better deal.

  2. Also known as the independent agency system, a system where insurance is sold through independent agents.

  3. American agency system is a method of selling insurance policies in which independent insurance agents locate the best insurance policies for their customers and receive a commission for each insurance policy sold. The American agency system uses independent agents who can sell policies from a wide variety of companies, unlike captive agents, who can only sell one company's insurance products.

Meaning of American agency system & American agency system Definition

AMERICAN AGENCY SYSTEM,

AMERICAN AGENCY SYSTEM:

Management agent and insurance sales system through independent agents who can represent more than one company and sellers receive revenue from the insurance commission. (See author's contradiction.)

Literal Meanings of AMERICAN AGENCY SYSTEM

AMERICAN:

Meanings of AMERICAN:
  1. Relatives or characteristics of the United States or its people.

  2. Local or U.S. citizen.

  3. English is spoken as in the United States.

AGENCY:

Meanings of AGENCY:
  1. A company or organization that is created to provide certain services usually mediates a transaction between two other parties.

  2. The process or intervention is specifically designed to achieve a certain effect.

  3. Agent status or role.

Sentences of AGENCY
  1. An advertising agency

  2. River Water officials dug a canal

Synonyms of AGENCY

business, organization, company, firm, office, bureau, concern, service, action, activity, effect, influence, force, power, work

SYSTEM:

Meanings of SYSTEM:
  1. A series of elements that work together as part of an interconnection or network mechanism.

  2. A set of principles or methods by which something is done, an organized structure or method.

  3. Current political or social order, especially when viewed as oppressive and stubborn.

  4. Grit is a series of sticks in the score.

Sentences of SYSTEM
  1. National rail system

  2. Multilateral system of government

  3. Don't try to ignore the system

Synonyms of SYSTEM

structure, organization, order, arrangement, complex, apparatus, network, method, methodology, technique, process, procedure, approach, practice, line, line of action, line of attack, attack, means, way, manner, mode, framework, modus operandi, the establishment