how do I set up an on-line Insurance business?

Question

I want a second income and would like to set up an online Insurance Broker business. How do I go about it?

Answer 1

you need a professional web site/domain name
www.sdhinternet.co.uk can provide you with both,

drop me a mail [e-mail]

before you do this you need to get in touch with insurance companies to get their permission to be a broker for them.

Answer 2

First Assumption:
If you're just going to be doing the online brokering of the business and not the actual servicing or selling of the insurance, then you will at the very least need a really good looking website which will be able to secruely record data entered by potential insureds which will then be sent to actuall agents.

Once you have that set up you will need a way to market yourself to actuall insurance agencies which want to purchase leads or try some free subscription service before paying.

Second (Alternate) Assumption:
If you are wanting to start an online business where you're doing the actuall selling and some servicing etc then my advice is to not bother since it's going to be way more of a time investment than could be described as "part time."

Answer 3

I would start by getting a broker license with the state insurance department. There might be an exam to test your insurance knowledge.

Answer 4

Get your state license. IE: Life/Health and Property casualty.

My advise before going "on line" is to secure contracts with reputable companies. These companies must have knowledge of your on line solicitations before setting up a Web site.

Contractual obligations are strict with these markets as to "how" you are to solicit. Working on the job for a while and getting the hang of it would be advantageous before setting up a Web. As an independent agent ...most firms have their own Website. You can have your own if you had direct contracts but be careful in your representation. You represent the companies you have.

Remember....this is service business....not a quick get rich opportunity. The States highly regulate activities.

Answer 5

First, you need to be licensed.

Second, you need to get agency agreements with any insurance company you are going to try to sell their product.

If you have no experience, this will be virtually impossible to do as I can't think of too many insurance companies that are going to give you an agency agreement if you're just starting out and haven't already been selling insurance for a while.

However, assuming that you're licensed and you have insurance companies that are going to allow you to sell their product, you'd need a professional website.

Answer 6

CALL JOE ON THE CORNER..
HE IS IN THE BROKER AND BREAKER BONES BUSINESS (BBB)

Answer 7

its not easy, lots of regulations and exams required