Insurance agency - What things do I need to consider?

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Posted: Mon Feb 22, 2010 9:13 am Post subject: Insurance agency - What things do I need to consider?

I'm working in a captive insurance unit for the past 9 years. Now, I'd like to set up my own agency. It would be great if some of you could offer any tips regarding this. I just wanna make sure that I'm not missing out on anything. _________________ Register Now to have your Insurance queries solved.

Platonic_Ross

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Posted: Tue Feb 23, 2010 5:09 am Post subject:

Go for a careful analysis of your resources. You'd need to consider whether you'd lease, purchase or manufacture. Also keep an eye on the business location. This would help you set a good business plan.

steven

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Joined: 02 Feb 2006
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Posted: Thu Feb 25, 2010 8:01 am Post subject:

Most of us would only think of identifying our competitors. The most successful ones amongst us would think of identifying our potential customers as well as the new sales avenues. If you're planning to set your own agency, you'd certainly need a supportive team. It's time for you to identify the skill sets and industries wherein you'd find such men who're qualified to be your employees. _________________ Insuranceguy.ampminsure.org

Juanita

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Posted: Fri Feb 26, 2010 4:55 am Post subject:

Quote:

Most of us would only think of identifying our competitors.

It's certainly important for you to achieve more information about your competitors. You should also have considerable information about the place where you're operating as well as other market conditions.
You could save much of your start-up expenses if you'd consider buying an agency which is already operational.

RupertWBradson

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Posted: Sat Feb 27, 2010 5:40 am Post subject:

You'd need to seek the help of expert businessmen to develop your business plan. At the same time, you could seek legal advice from lawyers to safeguard your business from unforeseen lawsuits. It would also help if you'd consult with experienced accountants and PR professionals regarding your business goals.