A person who transacts insurance business, other than life insurance, for compensation from and on behalf of another person, but not on behalf of or as a representative of an insurance company for which he has an appointment is called...

The term used to describe a person who transacts insurance business, other than life insurance, for compensation from and on behalf of another person—but does not operate on behalf of or as a representative of an insurance company—is an insurance broker.

An insurance broker acts as an intermediary between the insured and the insurance market, helping clients find coverage that best meets their needs while not being tied to any specific insurance company. Brokers typically work for the client's benefit rather than the insurer's, which allows them to offer a broader range of options and negotiate terms on behalf of the client.

In contrast, an insurance agent represents and acts on behalf of an insurance company, and would not fit the description given in the question. An insurance representative may perform various roles within the industry but is generally associated with a specific company. An insurance consultant provides advice regarding insurance needs but does not transact the business of insurance in the same capacity as a broker. All these roles differ significantly in terms of their responsibilities and the nature of their relationships with clients and insurance companies.