I am looking to set up an insurance company and would really appriciate any information and/or advice offered.
2006-09-10 11:58:50 · 9 answers · asked by Beckie 1 in Business & Finance ➔ Insurance
money license, garanty
2006-09-11 08:16:54 · answer #1 · answered by Anonymous · 0⤊ 0⤋
That isn't really a start up idea, a better idea would be to become a broker. To start an entire company, you would need a few million in the bank, someone who has documentable experience in insurance, a few lawyers and an entire docket of risk managers, accountants ect.
2006-09-10 12:43:14 · answer #2 · answered by Michael S 1 · 0⤊ 0⤋
You need all the proper documentations such as the policies themselves, a lawyer ( trust me all insurance companies need them)
Depending if your opening up as an insurance agent or if you are opening an insurance place such as blue cross blue shield, alfac, etc.
If opening up a whole new insurance, you do need policies, lawyers, employees, brochures, incentives for the customers, advertisement, phone lines, procedures, claims pamphlets, etc.
Just opening up as an insurance agent, you need a bookkeeper/office admin, incentives for the insurances you are selling, your state insurance license, you need to take the test for each type of insurance you are selling, etc.
2006-09-10 12:02:52 · answer #3 · answered by Keith Perry 6 · 0⤊ 0⤋
i order to open your own company ids to call your state commioners office the you need to get a licence to sell insurance if you do not already have one then you need to get call the companys you want to sell for they will come and meet you and decied if they want you has an agent repsenting there company it really is not that hard while my state was not that hard but you really do not need alot of money just enough to get a office computer etc. and also if you know how to do book (accounting) you do not need to hire any employees when you first open you can do it all but your self if you have any more question please email me at mrsvb1@aol.com
2006-09-10 16:17:31 · answer #4 · answered by mrsvb1 1 · 0⤊ 0⤋
My advice would be to know what you're doing in the first place, so that you don't have to ask strangers, with no way of verifying their credibility or expertise, how to go about starting a business that will be a huge financial risk on yourself.
2006-09-12 12:47:00 · answer #5 · answered by SwampDog 2 · 0⤊ 0⤋
Talk to your state's insurance commissioner. My guess is you need a lot of money to post a surety bond.
2006-09-10 12:02:05 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Check with your state's insurance commissioner...
2006-09-10 13:18:15 · answer #7 · answered by NC 7 · 0⤊ 0⤋
Money $$$$$$$$$
2006-09-10 12:02:35 · answer #8 · answered by sandhurajpal 1 · 0⤊ 0⤋
ridiculous amounts of money is my guess.
2006-09-10 12:04:12 · answer #9 · answered by Anonymous · 0⤊ 0⤋