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How to Start an Insurance Agency

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Part of the video series: Insurance Information

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Summary: Starting an insurance agency requires considering many aspects of business, including whether a building is required, who the customer will be and what type of products to offer. Discuss starting an insurance agency with a bank or business partners using insight from an insurance agent in this free video on insurance.

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By Vic Schumacher
eHow Presenter

Vic Schumacher is part of HPE Financial Services, a brokerage insurance company representing all major carriers. He works with businesses, families and individuals, helping them to...read more

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"Hello, my name is Vic Schumacher with HPE Financial Services. I'm an Insurance Broker representing a variety of different agencies. What we're going to talk about today is how do you start an insurance agency. Like with any particular business, no matter what it is, you've got to start off with a respectable business plan. You have to understand where you want this business to start. Are you going to need a building. Are you going to operate in a variety of different fashions. Who is your customer. Who is your target audience. Who are you trying to seek. What products are you going to offer for these people. After you have designed a business plan along those lines then you've got to go back and figure out how am I going to fund it. Where am I going to get the financial stability to roll this product out, roll this agency out. You can go to banks, you can go to small business through the government and get a loan. You can start off small just by yourself. You can roll out this agency, you know exactly who your going to sell your products to and your revenue is therefore produced by the sale of those products. Starting an agency is a difficult thing to do. I suggest you have a couple business partners with you. My name is Vic Schumacher. The company is HPE Financial Services. Helping people everyday."

eHow Article: How to Start an Insurance Agency