An intermediary is a person or organization that acts as a go-between or middleman between two parties. Intermediaries can be external professionals or companies that make business or financial arrangements between companies or organizations that do not deal with each other directly. There are different types of intermediaries, including:

• Business Intermediaries: These are intermediaries that act as liaisons between manufacturers and consumers.

• Broker Intermediaries: These are brokers who negotiate transactions between parties when they have obtained consent from the parties to represent both the buyer and the seller.

• Correspondent Banks: These are banks that help execute international fund transfers and transaction settlements between two banks in different countries that dont have an established financial relationship.

Intermediaries can help parties find appropriate coverage, arrange for sufficient insurance from multiple insurers, and negotiate reinsurance contracts between the ceding company and the reinsurer. They can also help companies gain access to financial services in different jurisdictions and provide cross-border payment services, which can support international trade and improve financial inclusion.