Final answer:
An individual who has a contract with an insurance company to represent it is called an insurance agent. Insurance agents act as intermediaries between the insurance company and the customer, helping clients choose the right policies and assisting with claims processing.
Step-by-step explanation:
An individual who has a contract with an insurance company to represent it is called an insurance agent. Insurance agents act as intermediaries between the insurance company and the customer. They help clients choose the right insurance policies, explain the terms and conditions, and assist with claims processing.
For example, if you were interested in purchasing health insurance, an insurance agent would explain the different plans available, the coverage options, and help you navigate the enrollment process.
Some insurance agents may also specialize in specific types of insurance, such as property and casualty insurance or life insurance.