An Agent of Record (AOR) is authorized to act on behalf of a client in dealings with third parties. In employment contexts, this often relates to benefits where a broker is designated as agent of record with insurance carriers.
Benefits Context
For employee benefits, the agent of record is the broker authorized to manage the company's relationship with insurance carriers. They receive commissions, handle service issues, and manage renewals. Companies can change their AOR designation.
AOR vs. EOR
Agent of Record and Employer of Record are different concepts despite similar abbreviations. AOR designates agency authority while EOR creates an employment relationship. Some companies offer both EOR services and act as AOR for benefits.
International Benefits
International benefits brokers may serve as AOR across multiple countries, consolidating benefit management globally. They leverage buying power and expertise across markets. Working with global AORs can simplify international benefits administration.