Im not talking about big insurance companies offering a variety of insurance. say, education, hospitalization, hazard, etc. I'm simply referring to how could it possibly start or what are the basics in order for one to start on an insurance business venture.
2006-07-01 17:05:22 · 5 answers · asked by Eclipse 1 in Business & Finance ➔ Investing
I would say that your only bet as a small businessman would be as an insurance agent or broker, not as an insurance provider. Most insurances require large start up capital to provide coverage and have the money to back up their prospective policies. Also the money to advertise and get the word out to enough clients to make it worth your while ... getting started as a broker would help you learn the ropes before jumping in completely.
2006-07-01 17:09:13 · answer #1 · answered by Anonymous · 0⤊ 0⤋
The best routes to take are to research the process of starting a business as well as the industry you're interested in.
I recommend checking out the SBA, Entrepreneur, The Start Up Journal & Nolo. All 4 are great informational resources for the new/small business owner. I posted links for you in the source box.
Associations may be a good avenue to explore as well. These organizations will address many of the thoughts, questions and concerns you'll inevitably have as well as many you haven't anticipated yet. See the source box for some relevant links.
Research, research, research – this cannot be stressed enough. Read as much as you can about the industry. Here are some book titles that are relevant:
* 10 Steps to Success: A Commonsense Guide to Building a Successful Insurance Business by Daniel S Fowler
* Principles of Principled Life Insurance Selling by Ned Ricks
* Life and Health Insurance License Exam Cram by Bisys Educational Services
There are plenty of free informational resources out there. Check the source box for links to articles.
Hope that helps! I wish you much success & happiness in all your ventures!
2006-07-04 01:30:18 · answer #2 · answered by TM Express™ 7 · 0⤊ 0⤋
If you're talking about being an independent broker, you need to be licensed in your state to sell insurance. Then, you have to be appointed with each of the companies for which you want to sell in order to sell their products.
I would only recommend it if you have extreme fortitude and entrepreneurial make up.
2006-07-01 17:10:13 · answer #3 · answered by Anonymous · 0⤊ 0⤋
start small
2006-07-01 17:47:13 · answer #4 · answered by Anonymous · 0⤊ 0⤋
i really dont knw
2006-07-01 17:08:10 · answer #5 · answered by I want to believe 3 · 0⤊ 0⤋