The Insurance Market: Types of Markets and Distribution Channels

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Types of Insurance Markets:
- Retail Market: Where individual consumers purchase insurance (e.g., home, life, auto insurance).
- Wholesale Market: Brokers and agents acting on behalf of insurers to sell policies to businesses.
Insurance Distribution Channels:
- Direct-to-Consumer: Insurance companies selling policies directly to consumers, often online.
- Insurance Brokers: Intermediaries who work with multiple insurers to find the best policy for clients.
- Agents: Representatives of insurance companies who sell policies for a specific insurer.

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