For instance, in the case of a plane mishap, such intermediaries look into the matter as to why the accident occurred or does it fall under the purview of insurance, thereafter assess the loss and submit their report to the insurance companies and collect their fees. Similar cases like theft, fire and related cases are handled by them.

(ii) Insurance Brokers: Such individuals contribute maximum share of life insurance business in the developing and developed countries. A high standard of professional skill and conduct is expected to the broker and in any case of failure he will be responsible for the loss to the principal or to the insurer.

(iii) Insurance Consultants: Such intermediaries create an awareness among the people about the importance of insurance and also provides consultancy advice as to how to invest in the insurance, or which products will generate high revenue, so on so forth.

(iv) Reinsurance Brokers: Same as Insurance brokers with a little modification, but of much importance to the General life Insurance Business.