A business plan for opening an insurance company that you decide to open should begin with identifying a special segment, type of activity in the already existing market for the relevant services. It is most profitable to identify an unoccupied niche in the market or a segment in which there is an increased and unsatisfied demand... for alcohol.
The Russian insurance market is characterized by a high level of employment, which complicates the search for new free niches for the activities of young companies. And yet, focusing on innovative insurance products, it is still possible to find effective business solutions.
Business plan
We present to you for free ready-made example an insurance company business plan that will help you start your own business providing insurance services.
This example contains all the calculations and tables for a specific city, so in your case all the numbers will, of course, be different.
How to open an insurance company
So, how to open an insurance company? Let's consider information that will help you in starting this business.
Registration
The insurance business is carried out by legal entities (LLC, CJSC, etc.), whose charter clearly defines the types of insurance services that they will engage in. In addition, the minimum authorized capital of the company is 20 million rubles, which varies upward depending on the services provided (especially increases when planning life insurance).
Company license and certification
In order for an insurance company to be included in the Unified State Register of Insurance Organizations, that is, licensed, it is necessary to undergo a certification procedure, which can last from six months to a year. An important point here is confirmation of the qualifications of the management of the insurance company: education and work experience of the general director, his business reputation. You will also need well-written constituent documentation and clearly formulated insurance rules for each type of planned insurance activity.
Investments and opening costs
The primary costs of opening an insurance company, which will be spent on purchasing or renting, as well as equipment for the company’s office, salaries and advertising, depending on regional characteristics, will range from half a million to a million dollars.
Room
The requirements for an insurance company office are quite standard: convenient location, parking for employees and clients, sufficient space (depending on the specifics of the work), its design and dress code for employees. The design of the office determines the client’s first impression of the insurance company, so it must be consistent business style, emphasize the solidity and reliability of the company.
Working staff
The composition of an insurance company's employees is usually divided into two groups: office workers - management, legal services, accounting, and insurance agents - the “gold reserve” of each insurance company. Forming a staff of insurance agents, on whom the flow of clients of an insurance company depends, is a key personnel task. This can be solved either by attracting experienced employees, who will need to be provided with preferential conditions, or by training newcomers. Typically, insurance companies seek to combine these two paths by building a talent pool of experienced and entry-level employees.
Basic strategies for attracting clients
In the insurance business, it is important to develop targeted advertising strategies, that is, for each type of insurance, find the most effective types of advertising, placement locations, etc. For example, for home insurance, it is profitable to look for clients in areas of new buildings, cottage communities, and on real estate websites.
Low prices for services at the beginning of work is an effective advertising move.
Prospects for this business
Efficiency insurance business depends on the gradual expansion of the list of services provided, which occurs due to the development of the insurance company. Normal payback period: 3-5 years. If the profit corresponds to 10% of the total amount of insurance premiums, such a business can be considered successful.
Having your own insurance company, frankly speaking, is not the fastest-paying type of business. However, despite decent competition, there is a definite chance that in small cities a private insurance company can bring its owner considerable income. But only in the long term. It is absolutely not recommended for beginners and inexperienced entrepreneurs to engage in this business. The insurance company business plan presented below with calculations reflects in as much detail as possible the realities of organizing this business in a provincial city.
The direct investment that an entrepreneur will have to make in opening an insurance company will not exceed 2.7 million rubles. However, Russian legislation clearly regulates the size of the authorized capital of an insurance company, without which its registration is impossible. It amounts to a decent amount - 20 million rubles. Therefore, it is assumed that this enterprise will have several founders with approximately equal shares of investments.
Summary
An insurance company, an example of which is given in this business plan, must be registered as a limited liability company under the management of one or more founders. When choosing a taxation system, you should opt for UTII - “imputation”. Tax rate in this system it is 15%. In some regions it is planned to introduce a reduced rate, up to 7.5%, but so far this has not been implemented in any subject. When registering an insurance company, you need to select the following OKVED codes:
- 65.11 “Life insurance”.
- 65.12 “Insurance other than life insurance.”
- 65.12.1 “Medical insurance”.
- 65.12.2 “Property insurance”.
- 65.12.3 “Civil liability insurance”.
- 65.12.4 “Insurance against accidents and illnesses.”
- 65.12.5 “Risk insurance”.
- 65.12.6 “Insurance for a traveler traveling outside his/her permanent residence.”
- 65.20 “Reinsurance”.
The office of an insurance company needs to be located in a room with an area of about 150 square meters. m, which is rented closer to the city center. All rules fire safety, as well as the SanPiN standards in it must be impeccably observed. The lease agreement is concluded for a one-time period of three years, with full payment for the first six months. It would be a good idea to conclude contracts in advance for cosmetic repairs of the premises and maintenance of computer equipment.
The work of the insurance company consists of two main areas:
- Providing personal insurance services, including life and health insurance, as well as liability insurance for intermediaries.
- Services related to insurance of property and material assets, including real estate, cars and other vehicles, as well as financial risks.
The owner of an insurance company is free to choose which development path to choose, but it is better to start with a small range of services, supplementing it as far as possible.
How much do you need to invest in opening?
The initial costs of organizing an insurance company are as follows (the amount of authorized capital is not included):
Calculations show that 37% of the initial capital will go to pay for rent and office renovations. And this is completely justified, since the image of an insurance company plays a huge role in its future success in the market. Office equipment should be purchased of high quality from time-tested manufacturers.
Marketing plan
A competent marketing and promotion system aimed at expanding the client base is the key to the successful start of an insurance company and its subsequent active development. Exemplary marketing plan should be bold, even somewhat daring, and include the following aspects:
- Large-scale advertising campaign in all kinds of media - newspapers, magazines, radio stations and local television.
- Creation of a website for an insurance company with a built-in online consultation function.
- Promotion in all well-known Internet search engines for mid- and low-frequency queries, as well as purchasing packages contextual advertising.
The above marketing events will ensure the attraction of a large number of clients already at the stage of formation of an insurance company.
The insurance company will “live” on the insurance premiums of its clients. For a small city, it is quite possible to gain a customer base of 5,000 thousand people in the first six months. average cost The monthly insurance premium from each client will be approximately 2000 rubles. Accordingly, the annual revenue of the insurance company will be about 10 million rubles. Part of this money will be spent on remuneration for agents, but these expenses are offset by profits from the provision of related services.
Production plan
The office of the insurance company should be spacious and decorated with a claim to discreet luxury. The usable area of the room is 150 “squares”, it is advisable to divide it into the following “compartments”:
- 20 sq. m provide for an office general director companies.
- 15 sq. m to give to an accountant and lawyers.
- Place work areas for office managers on 50 “squares”.
- 10 sq. m allocated to the PR manager, head of the sales department and HR manager.
The office premises of the insurance company must have a fire alarm and an emergency fire extinguishing system, and it is also necessary to post an evacuation plan in case of a force majeure situation, in plain view of everyone.
The work schedule of insurance agents, as a rule, is not standardized. Other employees of the insurance company work according to the regulations Labor Code RF. The most successful office schedule for an insurance company looks like this:
- Monday – Friday from 08:30 to 17:30.
- Saturday from 09:00 to 13:00.
- Sunday is a day off.
The list of insurance company employees is presented below:
| № | Job title | Number of people | Salary, rub. | Monthly payment fund, rub. | Payment per year, rub. |
| 1 | CEO | 1 | 70 000 | 70 000 | 840 000 |
| 2 | Head of Sales Department | 1 | 50 000 | 50 000 | 600 000 |
| 3 | HR Manager | 1 | 40 000 | 40 000 | 480 000 |
| 4 | PR manager | 1 | 40 000 | 40 000 | 480 000 |
| 5 | Office Manager | 3 | 20 000 | 60 000 | 720 000 |
| 6 | Lawyer | 2 | 30 000 | 60 000 | 720 000 |
| 7 | Accountant | 1 | 30 000 | 30 000 | 360 000 |
| 8 | Secretary | 2 | 25 000 | 50 000 | 600 000 |
| 9 | Insurance agent | 5 | 8 000 | 40 000 | 480 000 |
| TOTAL | 440 000 | 5 280 000 | |||
Calculations of income and expenses
This section of the insurance company’s business plan is devoted to the calculation of material costs and potential profits from the work of this organization in a provincial city.
The main expenses of an insurance company are as follows:
The profitability of an insurance company in a small city is calculated in this table:
Calculations show that the net profit of the insurance company after making all tax contributions should be about 1 million rubles. The monthly net profit will be in the region of 80-100 thousand rubles, and this is quite a decent amount, taking into account the specifics of running this business in small town. Accordingly, the profitability of the insurance company will be about 31%, and the payback period for this business project will be from two and a half to three years.
Possible risks
In itself, opening an insurance company in a small town is a rather risky undertaking - let alone maintaining its “operational capacity”. There are several fundamental risk factors that can seriously disrupt the full functioning of an insurance company:
- Pressure from competitors, contributing to the outflow of clientele.
- The risk of bankruptcy due to a sharp increase in insurance claims and, as a consequence, payments for them.
- Introduction of changes to legislation related to the activities of insurance companies.
- Declining level of well-being of the population, refusal of insurance by clients.
If an entrepreneur decides to open his own insurance company, then most likely it will development will go along one of the opposite paths corresponding to the expression “sink or perish.” Either success or complete failure. Unfortunately, the third option happens very rarely.
The domestic insurance market is quite well developed. Therefore, when drawing up, a novice entrepreneur must take into account that he will have to compete with venerable companies that have been working in this field for a long time and have created a positive reputation.
The insurance business is a labor-intensive process that has a lot of both legal and economic details, and in addition, risks. Therefore, in order to take its place in the insurance market, a young company must analyze in detail its capabilities and prospects at the stage of planning its business.
Key features of an insurance company’s business plan for providing insurance agent services
Insurance business planning
In an unstable market economy, as well as rapidly changing living conditions in general, everything more people and organizations resort to the services of insurance agents. Therefore, the insurance business can be confidently called a profitable business.
However, it is important to understand that this type of activity will require special education and experience in the insurance industry from you or your partner, large investments and time costs (it may take a year to obtain a license alone). There are many complexities and nuances in the insurance business, but this is not a reason to abandon this business idea. Most of the problems of organizing such a business can be solved with proper preparation insurance company business plan.
Description
Files
Main types of work of an insurance agent
The insurance business, as we have already noted, is not an easy business. When drawing up, it is extremely important to understand this activity as a whole and understand its specifics.
So, an insurance company is an organization engaged in concluding insurance contracts and their further servicing. Types of insurance: personal, property, liability and financial risks insurance.
When forming your business project, it is important to determine what specific insurance services are in demand in a particular region, to develop your own individual marketing tactics to firmly occupy a place in the market, focused on a specific segment.
With a wide range of services provided, but without a correct analysis of the target audience, its needs, in other words, without a well-developed business plan yours Insurance Company may not justify a large investment at all.
1 – Summary
1.1. The essence of the project
1.2. Amount of investment to launch an insurance company providing insurance agent services
1.3. Results of work
2 – Concept
2.1. Project concept
2.2. Description/Properties/Characteristics
2.3. Goals for 5 years
3 – Market
3.1. Market size
3.2. Market dynamics
4 – Staff
4.1. Staffing table
4.2. Processes
4.3. Wage
5 – Financial plan
5.1. Investment plan
5.2. Financing plan
5.3. Sales plan for the development of an insurance company for the provision of insurance agent services
5.4. Spending plan
5.5. Tax payment plan
5.6. Reports
5.7. Investor income
6 – Analysis
6.1. Investment analysis
6.2. The financial analysis
6.3. Risks of an insurance company in providing insurance agent services
7 – Conclusions
The business plan of an insurance company for the provision of insurance agent services is provided in MS Word format - it already contains all the tables, graphs, diagrams and descriptions. You can use them "as is" because it is already ready to use. Or you can adjust any section to suit you.
For example: if you need to change the name of the project or the region where the business is located, this can be easily done in the “Project Concept” section.
Financial calculations are provided in MS Excel format - the parameters are highlighted in the financial model - this means that you can change any parameter, and the model will automatically calculate everything: it will build all the tables, graphs and diagrams.
For example: if you need to increase your sales plan, then just change the sales volume for a given product (service) - the model will recalculate everything automatically, and immediately all the tables and diagrams will be ready: monthly sales plan, sales structure, sales dynamics - all this will be ready .
A special feature of the financial model is that all formulas, parameters and variables are available for change, which means that any specialist who knows how to work in MS Excel can adjust the model to suit themselves.
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Feedback on an insurance company's business plan for providing insurance agent services
After working as an insurance agent for several years, I finally decided to create my own company. Despite the fact that I know the entire structure of the business from the inside, I encountered a number of problems when drawing up my own financial model. One of them is carrying out competent calculations to attract third-party investments. Ready from Plan Pro allowed me to solve this problem in a short time. A clear, transparent budget structure, analysis of the payback period presented in the business plan helped me find external investors (5 million rubles), organize my business and receive a net monthly income of 420,000 rubles.
Tsvetaeva V.A. General Director of Insurance Company "Garantia", Oryol region.
Development of a business plan for an insurance organization
Features of building a business plan for selling insurance services
The market for insurance services in Russia is not so large, but this is its danger: it is extremely difficult to compete with companies that have proven themselves for a long time. And if you also take into account that the range of services offered will be approximately the same, then the main task insurance company business plan consists of developing a unique selling proposition and ways to build a positive reputation.
A special feature of this business is the large initial capital. The main initial costs will be the costs of legal registration of the project, obtaining licenses, etc.
The payback of a given enterprise depends on many factors, for example, a well-developed target audience and the selected range of services, the region where the company is located, etc. Therefore, in order to avoid becoming a victim of investment traps, it is better to calculate your budget and predict income at the development stage insurance agent business plan. This will help you avoid risks and earn a decent income in the future.
Basic questions of an insurance company business plan
Any endeavor needs planning, and the insurance business is no exception. In order to formulate an effective economic model for an enterprise, it is necessary to consider in detail a number of key issues. In we will analyze:
— market conditions and corresponding marketing
— legal registration of business
— capital investments
— selection of employees
- budget and payback
Market analysis and marketing
Features of a business plan for selling insurance services there will be a fact of a detailed analysis of the relevant market in a particular region. That is, it is important to track which services are most in demand, but are not widespread on the market. Experts note that today the insurance services that are in greatest demand include:
- OSAGO and CASCO
- Property loss insurance
- Life insurance, health insurance, etc.
Since the level of competition will be quite high in any case, the main task insurance company business plan will develop a marketing strategy. First you need to clearly define your market advantages, for example, the best prices, unique offers and bonuses, individual approach to clients, highly qualified employees, etc.
However, all these components cannot guarantee you a flow of customers and, accordingly, income. In this case, it is extremely necessary to use a whole set of business promotion methods:
- Advertising in the media, social networks
- Website promotion
- Distributing leaflets
- The practice of concluding contracts with organizations that receive a certain percentage if they offer compulsory insurance along with their services (banks, car dealerships, large trading companies)
- The practice of interacting with government and commercial enterprises that encourage their employees to enter into an insurance contract is not free of charge, of course.
Legal registration of business
When compiling insurance company business plan You must immediately decide on the choice of legal form for your business activity. Suitable forms of ownership in this case would be LLC, CJSC, OJSC.
IN statutory documents The company will need to indicate all types of services provided.
The position of general director in this type of business can only be held by a person with vocational education. To confirm this fact you will need: copies of your passport, TIN, diploma, work book.
The existence of the authorized capital will also have to be documented.
In addition, it is important to take into account that the activities of insurance services are subject to mandatory licensing. And here you will also need a package of documents:
- Insurance company business plan
- Constituent documents
- Insurance documents
All of the above legal nuances will require considerable costs, so their inclusion in insurance agent business plan required.
Investment Analysis
When forming the expenditure portion of your initial budget in insurance company business plan The following components should be taken into account:
- costs of legal registration of business, licenses and related taxes
- cost of renting or purchasing office space
- costs of office furniture, office equipment, stationery
- staff salaries
- advertising budget
- other expenses, including airbag
The total investment amount will be approximately 5 - 50 million rubles. It is important to understand that this figure is approximate and depends on many factors, for example, the range of services provided and the scale of the agency as a whole. The most accurate indicators can only be provided to you by an individual business plan yours insurance company.
Thus, all calculations are directly related to the individual financial program of a single company, so it is difficult to accurately predict specific investment figures. However, our company can assist you in forming your business project. To do this, you can download a ready-made business plan of an insurance company for the provision of insurance agent services with settlements. The economic model of the project will allow you to most accurately determine the size of the investment and correctly calculate the expected profit.
Calculation of the budget of an insurance organization
IN business plan activities insurance agent an analysis of the firm's financial movements should be included.
At the initial stage, the main expense items will be: legal costs, rent or purchase of premises with appropriate maintenance, employee wages, advertising costs.
Predict the amount of income in the example insurance company business plan difficult, since it is necessary to take into account many specific factors (demand for insurance in a particular region, scale of the organization, etc.).
Recruitment
The company's staff can be divided into two groups: office managers and insurance agents themselves.
When compiling insurance company business plan It is important to accurately formulate the requirements for insurance agents. These must be people with higher professional education and preferably with work experience. However, the option of hiring newcomers with the prospect of training is not excluded.
Wages can be either fixed or piecework. Experts advise combining these options, which will become an additional incentive for employees.
The number of employees will vary depending on the size of the planned company.
Business ROI calculations
Organizing the provision of insurance agent services is a matter that requires large investments, therefore insurance company business plan must have a payback period calculation.
Forecasting revenue from insurance activities, which for the xxx period will amount to xxx thousand rubles. carried out taking into account all individual characteristics company (scale, services provided, marketing, etc.). However, an approximate figure can be calculated based on the average prices for insurance services in Russia, which for the period xxx amounted to xxx rubles. 
The financial model is a separate file in MS Excel format - essentially it is
a separate product designed for business planning and calculation of all its
indicators. Each of the parameters of the financial model can be changed manually.
There are no macros in the financial model. All formulas are transparent and accessible to
changes.
In the process of working on a business plan, we review dozens of different sources
information. This includes data from equipment suppliers, industry portals, interviews with market experts, and data official statistics– such a systematic data analysis provides a complete picture of all project parameters: prices, equipment costs, premises costs, costs, etc.
Download a ready-made business plan for an insurance company with financial calculations and an Excel financial model
Thus, working in the insurance industry is associated with certain investment risks, which are important to avoid at the planning stage. Competent development of a business plan will allow you to consider in detail the economic features, correctly prepare calculations, and decide on legal issues.
To save your energy and time, you can download a ready-made sample insurance company business plan with calculations. The financial model presented in the sample will help you better navigate your project, build your financial model. In addition, we offer to develop for you an individual turnkey business plan, taking into account the characteristics of your company.
The insurance business is a complex, but very promising and profitable business. Competent development insurance company business plan– a guarantee of the safety and success of your activities.
Despite the fact that the insurance market is sufficiently developed, the current situation in this sector is such that opening a new insurance agency may be a profitable idea based on the needs of the target audience.
In the capital and others major cities often seek insurance services from jewelry companies. Insurance of financial risks arising during the joint construction of residential or non-residential facilities is in demand in megacities. You can always find your niche for opening an agency by conducting a thorough analysis of the insurance market for available services. To do this, taking into account all the features outlined below, they create a business plan for an insurance agency. One of possible options- a franchise or branch of an already popular agency. Such a project can be a good starting point in the future for a new and independent agency.
Features of the insurance agency business plan project
The essence of the project is to create an agency for insurance of life and health, property and other valuables. the main objective business plan - to assess the prospects and economic efficiency of the project to create an insurance agency from scratch. The plan can be used as Commercial offer when negotiating with a potential investor or when obtaining a commercial loan.
The project implementation is planned for 2 years.
During this period it is planned to achieve the following goals
— creation of a profitable enterprise;
— meeting the needs of the target audience in the field of life and property insurance for both individuals and legal entities;
- obtaining high profits.
The main financial aspects of a new business are as follows:
— the period within which the company will recoup all initial investments and reach the level of profitability – 2 years. Under favorable conditions - earlier;
— total cost of the project (the amount of the commercial loan that is planned to be issued at the beginning of the activity) – 1 million 200 thousand rubles;
— loan payments will begin from the first month of the enterprise’s activity. During the first two years, the total amount of payments will reach 82 thousand rubles;
— interest rate on the loan is 17.5%. In the future, this figure may be reduced;
— the total economic effect from the sale of services over the indicated period, under favorable conditions, will reach 84 million.
In general, starting a business in the insurance industry will be characterized by a low level of costs. But in order to avoid losses and have the opportunity to develop in the chosen direction, you need to think carefully about all areas of activity and draw up a clear plan for all upcoming stages.
Features and prospects of working as an insurance agent - in the video:
Features of the insurance company's activities
By offering life insurance and various types of property as its main services, the company immediately identifies the approximate circle of its clients. The target audience of the insurance company is very wide. First of all, these are private individuals who insure their lives in case of illness or death, accident or work injury. The second, more extensive and highly paid category is insurance of movable and real estate individuals, as well as organizations and enterprises.
Many insurance companies offer too many types of services at once. This may complicate entering the market, as it will require too much time and money, as well as attracting a large number of specialists. Therefore, it is worth starting with a limited list of services, with a main focus on serving individuals and providing a limited range of services to enterprises and organizations.
The operating principle and procedure of an insurance company largely depends on the type and scale of its activities. But in general, the general procedure includes the following responsibilities of the insurer:
— drawing up insurance programs of all types provided for in the strategy. At this stage, all financial aspects are calculated and a specific insurance proposal is developed;
- signing an agreement with the client - an individual or organization;
— receipt from the policyholder of the first insurance payment, of which 15% is received by the insurer as a commission and payment of expenses incurred, and the remaining amount goes to the insurance reserve. The insurance reserve, in turn, is divided into 2 parts: 70% for the accumulative reserve and 15% for the risk reserve. Both reserves are invested in instruments provided by law;
— upon the occurrence of an insured event, agency specialists review all submitted documentary evidence and make a decision on the advisability of making insurance payments, their amount and procedure.
The procedure for insurance and payments may differ slightly, but the principle is standard for all organizations. It is determined by relevant legislation. True, organizations can have different sales channels - both direct and brokerage channels are active in the market. At the same time, in the domestic market the share of the brokerage channel for sales of insurance services is still quite low and amounts to less than 4 percent. The Russian insurance system is characterized to a greater extent by the participation of non-insurance intermediaries - banks, travel agencies or car dealers. Vivid examples are MTPL and comprehensive insurance policies.
Internet insurance today also represents not only direct sales of insurance services. Over the past few years, the number of Internet agents performing intermediary functions has increased significantly.
Registration
The insurance company can be immediately registered as an LLC. There are other types of legal entities. But a limited liability company will be the most convenient and profitable for a start-up organization. When drawing up the charter for the LLC being opened, you need to list in detail the planned services of the agency, not forgetting about additional and auxiliary offers. When filling out the documents, you must provide all activity codes of the new company. For this purpose, a specialized OKVED classifier is used. It selects one or more suitable activities codes Regardless of what additional activities may be, they must be related to insurance and must be separately indicated when drawing up the application. For example, this could be damage assessment, which has a direct connection with insurance.
A mandatory condition for creating an LLC is the contribution of the authorized capital. Its size largely depends on the services provided by the campaign. The higher the value of the services (for example, life insurance of the client), the more authorized capital. But the minimum amount is 10 thousand rubles.
Other documents required when opening a legal entity are the charter, the decision to create an LLC (or another form), the decision to appoint a manager and, if there are several founders, the minutes of the founders’ meeting.
License. Certificate
The agency may act on the basis of a special permit document— licenses for services provided. All legal requirements regarding types and forms of insurance, as well as licensing and certification, are contained in the specialized federal law “On the organization of insurance business in the Russian Federation” ().
You must first pass the certification required by law. This process is quite complex, it takes place under the guidance and control of the Ministry of Finance and requires a long time - usually certification takes up to a month. To complete it you will need a package of documents, including:
- Insurance rules.
- Documentation for opening a campaign.
- Tariff calculations.
The specificity of the campaign is that everyone the new kind insurance requires the preparation of new documents. In addition, the head of the company must confirm his qualifications in this field. The success of the undertaking will depend on the work experience of the manager himself and the number of positive reviews about his activities.
The result preparatory work the enterprise will be entered into the relevant state register after receiving a license. The entire licensing process will take up to six months, so you need to take care of this in a timely manner.
Regulatory documents that must be studied before starting work:
Stages of creating a business
The basic sequence of actions for opening an insurance agency is as follows:
— development of a strategy for the future company;
- preparation of marketing and financial plan;
— renting or purchasing office space, equipping it and preparing it for opening;
A more detailed insurance agency plan includes the following steps:
| Stages | Execution conditions | Deadlines |
| Start of the project | 1 – 2 year | |
| 1 month project | First 30 banking days | |
| Receiving credit funds | Availability of a mandatory package of documents | 1 month |
| Entry into the state register, registration with administrative and tax authorities | Concluded investment agreement | From 1 to 30 calendar days |
| Selecting a location, preparing documentation | Preliminary work | 1 month |
| Purchase of equipment | Conclusion of an investment agreement | Up to 30 calendar days |
| Equipment installation | Receiving investment funds | Up to 30 calendar days |
| Hiring employees | Production activities | Up to 30 calendar days |
| Training | The end of the stage of organizing the production process | Up to 1 month |
| Advertising | Within 1 month | Up to 1 year |
| End of the project | 12 – 24 months |
Premises and equipment
The main condition for the selected office space is good access to it and the availability of convenient parking for clients’ personal vehicles. There should be good transport links nearby - a metro station and public transport stops for clients who do not have their own car. At the entrance, a noticeable sign is required that will orient visitors and serve as an advertisement.
The room may be small, but spacious enough to accommodate several employees and the opportunity to meet with clients. Maximum area - 150 sq. m, but maybe less. The design of the office as the face of the agency is very important. This issue needs to be given a lot of attention: there should be no bright, emphasized decorative details here. Clients are more attracted to a strictly business-like appearance, which speaks of the company’s reliability.
Purchasing office equipment will be an important stage in opening a company. At the first stage you need to purchase:
— desks and chairs for employees in the quantity necessary to provide furniture for the entire team;
— chairs, armchairs or sofas for waiting by clients;
- computers with high-quality software for all specialists;
— other office equipment – printers, scanners, copy machines;
- connection to telephone and Internet.
To create a comfortable atmosphere, the workplaces of specialists should be demarcated. You can equip several separate small offices. If this is not possible, the room is zoned using screens.
Staff
At the time of opening the agency, there should be no more than 10-20 employees on staff. A larger staff will be too expensive to maintain on a monthly basis. In addition, a start-up insurance agency is unlikely to be able to count on a large number of clients. The team will include:
- manager,
- accountant,
- lawyer,
- insurance agents.
The main responsibility of insurance agents is to independently find clients to provide them with insurance services. Otherwise, you will have to wait a long time for the company to develop. According to the preliminary plan, in the first 2 years, as the company develops, it will be necessary to increase the team to 100 - 150 full-time and freelance agents.
As business opportunities expand, the number of employees and insurance agents will also grow. And for the business to develop, there must be insurance agents on staff who can convince and sell insurance services. The more services are sold, the better the insurance agency will do. The company's profit will depend on this.
In order to accurately recruit a professional staff, you need to familiarize yourself with a large number of applicants and select only the most professional and experienced. In order to retain new employees, you need to create the most favorable working conditions, interest agents with a positive bonus, possible career advancement, and a good percentage of the services they sell. You can also go by training beginners using special training. It is advisable to use these two types of work with agents simultaneously. Be sure to hire several experienced insurance specialists who do not require training.
The dress code for employees is one of the optional ones, but important conditions. Strict appearance emphasizes the authority of the company and the professionalism of its specialists.
Marketing. Basic strategies for attracting clients
A marketing campaign should begin with studying the state of the market, current trends and dynamics. Important in the functioning of the insurance market there are crisis phenomena that periodically affect the general state of the economy. Thus, in 2008–2009 and 2013–2014, the insurance market significantly reduced its activity, which is natural due to the international and domestic crisis. At the present time, the echoes of the last crisis are still being felt by most insurance agencies, especially small market participants. To cope with this problem and retain customers, it is necessary to offer more favorable conditions, comprehensive insurance packages, and necessarily improve the quality of services.
Statistics show that despite some negative trends, the insurance market is still growing and expanding. A particularly popular area is life insurance: every year this service is in increasing demand. If we analyze the insurance situation in the country as a whole, we can conclude that as a result of the crisis total number companies on the market have decreased. At the same time, only strong and competitive participants remained in this segment.
The driving force of an insurance agency forward is the advertising of each individual insurance service, since the work of an insurance agency is the sale of insurance services.
With each specific insurance service, they need to go to the target audience of customers, sometimes mixing them. A profitable solution would be a “two in one” offer - a discount when insuring two objects at the same time.
With a small starting capital and the impossibility of providing a wide range of insurance services at once, you can focus on one type of service. It is important that this direction is not yet widespread enough on the market or is completely new. In the absence of competition, you can achieve high results in business development. And as the business develops in the future, add new insurance services.
According to statistics, the following advertising methods work best:
— Internet: creation and promotion of a website, posting information about insurance services on thematic websites, using banner and contextual advertising;
— Media, especially the use of thematic publications. This will allow you to reach the target audience as much as possible;
A good method would be to offer services directly to potential clients - organizations and enterprises - in the form of online newsletters with information about current service packages. Customer reviews are one of the best promotion methods in this area. It's connected with high cost insurance services and a low level of consumer confidence in little-known and untested companies.
How in short term open your own insurance business - in the video:
Finance
First, you need to count on a minimum capital of 20 million rubles. Having such an amount will allow you to confidently start a business and not be afraid of a temporary lack of profit.
When opening an insurance campaign, you must count on the following main expense items:
| Expense item | Expenses per month | Expenses for the year | One-time costs | Total expenses for the year |
| Rent (purchase) of premises (from 40 sq.m.) | 30000 | 360000 | 60000 | 420000 |
| Purchase of equipment, including computers and office supplies | 106000 | 106000 | ||
| Buying a car | 430000 | 430000 | ||
| Website creation, hosting, scripts | 120000 | 120000 | ||
| Advertising expenses | 45000 | 540 thousand | 540 thousand | |
| Salary | 332000 | 3.9 million | 3.9 million | |
| Taxes | 99800 | 1198000 | 1198000 | |
| Additional expenses | 71560 | 71560 | ||
| Total | 407 thousand | 4.9 million | 788 thousand | 5.7 million |
Thus, the financial result regarding investments during the first year of the company’s operation is as follows: to open and develop an insurance company during the designated period, you need to have an amount of up to 6 million rubles available. This condition is relevant for a small organization of several insurance agents. If a larger organization is initially opened, this amount can double. However, this project provides for a gradual expansion of the company's scale.
The financial year begins in January. The deadline for tax payments will begin from the beginning of the year. The list of taxes for LLCs under the standard taxation system will be as follows:
The income part of the business plan should begin with drawing up an approximate pricing policy for the future agency. This indicator is determined taking into account the cost of the organization and the current pricing policy in the industry. Average tariffs for insurance services in the country today are as follows:
By dividing the entire 2-year period of opening and developing a business into 2 main stages - investment and operation, we can draw up next plan provision of services:
| Period | Type of service | Volume of production and sales for 1 month. (PC.) | price, rub. | Sales revenue, rub. |
| 1 – 12 months of investment | Life and health insurance | 20 people | From 120 thousand | From 2.4 million |
| 1 – 12 months of investment | Other insurance | 100 objects | From 17 thousand | 1 million 680 thousand |
| Life and health insurance | 50 people | From 134.4 thousand | From 6.7 million | |
| 13 – 24 months of operation | Other insurance | 200 objects | From 18.5 thousand | From 3.7 million |
If in the future the current market trends continue, that is, an increase in the volume of services provided in the amount of 10–22% per year, then the annual growth in the volume of sales of the company’s services will reach more than 58 million rubles per year.
To overcome difficulties at entering the market and smoothly pass the entry barrier, it is imperative to attract highly qualified specialists and use high-quality equipment. A competent marketing strategy and a well-thought-out advertising campaign are required. To find the best specialists, it is necessary to allocate approximately 1 month for the search for personnel, selecting the best through interviews.
Risks
When planning the income of an enterprise, be sure to take into account all possible risks.
The main ones
— high level competition in the insurance industry;
— lack of proper trust among potential clients, especially private individuals;
— high level of competition in the industry for positions of top managers and specialists in other areas;
— high level of capitalization of investments.
The conclusion about opening an insurance agency as a type of business may be as follows. First of all, such an enterprise is potentially highly promising and profitable, characterized by high profitability and constantly increasing demand among potential clients. All these advantages take place with proper organization of the company’s work and a timely advertising campaign. The weaknesses of this industry are high competition, continued distrust among the target audience and lack of specifics in legislative framework. In the future, the prospects for the insurance business will depend on the general economic situation in the country, the quality of legislative regulation of this issue, as well as competent business planning by each entrepreneur.
The main features of opening an insurance agency are in the video:
In this material:
Insurance – profitable business. The competition in this market is serious, but by investing once and organizing everything correctly, you can get a solid monthly profit. Find out how to open an insurance company, what you need to start a business, and how to get maximum profit with minimal investment.
Insurance business for a beginner: the basics
Let's figure out how relevant the insurance business is, what pros and cons it has, and what risk factors can overtake you when opening such a company.
Relevance
You can often hear: “No one is immune from...”. And this applies to absolutely everything. People insure everything - from real estate to own life. A master will insure your eyesight, a singer will insure your voice, a perfumer will insure your sense of smell, etc. Today even pets are insured.
Insurance is so popular that people even insure their health against certain diseases (for example, tuberculosis). Moreover, there is both voluntary and compulsory insurance.
The decision to open an insurance company will always be the right one, since such a service was, is and will be relevant in the market.
Pros and cons of the insurance business
Positive aspects of opening an insurance company or agency:
- High business profitability;
- Increasing need for insurance among various segments of the population;
- The ability to “customize” your services to a specific region of the country as flexibly as possible;
- You can open a franchise company and offer services on behalf of any reputable company.
Flaws:
- Difficulties with registration large number documents at the stage of opening a company;
- A large amount for the formation of authorized capital - from 20 million rubles;
- The need to constantly monitor the market and competitors so that the company always stays afloat;
- The risk of various unforeseen situations arising due to the frequent appeal of people for insurance payments.
Remember! The insurance business is a profitable, but very risky business. Therefore, you need to initially weigh all the pros and cons, and only after that start organizing your business.
Risks
The risks of an insurance company's business plan are divided into categories.
current data is provided after ordering the power supply Market
Problems can arise at any stage of the formation/operation of an enterprise:
- Decreased demand for certain services due to reductions in insurance payments;
- Unfair competition from other companies;
- Rising prices for equipment and materials that are extremely important for the normal functioning of the company;
- Increasing the number of branches of competing firms;
- Increased fee for public utilities, rental premises, etc.
Financial
Such risks include delays in payment for goods by counterparties, choosing the “wrong” investor, problems with paying loans, collateral, etc.
Internal risks
The main problems may lie directly within the company's employees themselves. It is imperative to assess these risks, because the slightest conflicts and misunderstandings between employees can lead to serious problems:
- Strikes. Because of them, work can simply stop indefinitely. Common reason– delay in salary;
- Disclosure of trade secrets. All important data will be transferred to competitors;
- Court proceedings, fines, inspections. May arise due to the selection of unprofessional employees.
The most profitable types of insurance
One of the innovations is insurance of large sums of money lying in bank accounts. This money covers very substantial deposits, and the cost of such insurance is quite high.
Property insurance will always be popular. Moreover, both ordinary apartment owners and owners of country villas apply - the price of such property can be several million dollars.
The third profitable type of insurance is auto insurance. This includes both compulsory insurance of the MTPL type and other voluntary types, which allow you not to worry about the theft of your car or its damage by ill-wishers.
Organization plan
To open an insurance company, you need to go through several mandatory stages, and take each one as seriously as possible. These include:
- Registration of an enterprise;
- Rent of suitable office space;
- Selection of equipment and furniture;
- Recruitment.
Enterprise registration
IN mandatory need to register entity. The company can have any form of ownership: LLC (limited liability company), CJSC or OJSC (closed or open joint-stock company).
From the types of activities you need to choose one that contains the word “insurance”. But if it is planned to carry out examinations as part of the work, then they must also have a direct connection with insurance.
Important! More on preparatory stage you need to decide whether the company will provide life insurance. This is important because, subject to the provision of such a service, the authorized capital must be at least 20 million rubles.
After registering a company, you need to obtain a license allowing you to provide insurance services. To do this, you need to submit to the Ministry of Finance:
- Constituent documentation of the company;
- Business plan;
- Rules for the provision of insurance services;
- Tariff calculations.
The director of the enterprise will need to confirm his qualifications, work experience, and received legal education. It takes about a year to obtain a license, and you will need to pay a state fee for this process. If everything goes “smoothly”, the company will be included in the state register of insurance companies, and you can immediately begin work.
Office space
The office must have a representative appearance that inspires confidence - no one will take their money to a company whose office is located in an old garage. Every client wants to come to a company with a respectable image and good reputation.
The area of the premises must be chosen so as to accommodate not only the working staff, but also to make visiting clients feel comfortable. If the company is its own, then it must have a head office (at least 600 sq. m.) and city branches (200-300 sq. m. each).
The premises must be renovated, clean air, and an atmosphere that inspires confidence. The design of the offices should be the same, and in a single corporate style, which creates a good impression.
Furniture and equipment
Should form a positive opinion among visitors. It is worth buying new, modern furniture of the highest quality. For each workplace you need to purchase equipment:
- Modern computer;
- A printer;
- Telephone;
- Fax machine;
- Scanner.
It is necessary to provide each employee with reliable access to the Internet, a dedicated telephone line. Must be in the office Appliances: kettle, refrigerator, microwave, etc.
Employees
You need to hire professionals who can not only serve visitors, but quickly solve pressing problems. Neglect interviews, studying resumes, etc. not worth it.
If examinations are carried out, then you can not recruit experts into your staff, but hire a specialist “from the outside”, concluding an official deal with him. But, it is important to carefully study the company you plan to contact and check all its documentation.
Advertising campaign: attracting the maximum number of customers
You need to promote your company based on the package of services provided. For example, if it is advertised health insurance, then it is worth contacting directly the companies of large market enterprises that want to improve working conditions for their employees.
The most popular channels for attracting customers are banks and car dealerships. The downside is that most insurance companies use them. Initially, you will have to reduce prices for services in order to win your first customers.
The third channel for attracting clients is expanding the range of services provided. You can use a cross-selling insurance scheme when several insurance options are offered at once.
The money side of the issue
As part of the business plan for an insurance agency or company, you need to calculate the initial and ongoing costs, and then predict the expected profit.
Initial investment and running costs
For each specific case, the initial amount will be different. It also depends on the region of Russia. But, speaking of approximate initial investments, it is worth mentioning the amount from 7,000,000 rubles.
What does it include:
- Rent of premises – 50,000 rubles. in a year;
- Preparation of documentation – 700-900 thousand rubles;
- Renovation of the premises and purchase of equipment – 2 million rubles;
- Advertising campaign – 3 million rubles;
- Administrative costs – 1 million rubles.
Total: 7 million rubles.
Ongoing costs will consist of:
- Issues wages employees;
- Phone/Internet payments;
- Payments for utilities;
- Unforeseen expenses (for example, due to equipment breakdown);
- Printing advertising literature;
- Promoting the company on the market;
- Etc.
Profitability
In order for profits from the insurance business to constantly grow, you need to carefully monitor all changes in the market and monitor the activities of competitors. This is the only way to create an effective marketing plan and quickly make changes to the list of company services.
Important! To increase profits, it is not necessary to raise prices for services; it is much better to expand the list of services. The average profit with this approach in a city with a population of 1 million or more will be 5-10 million rubles.
Read more about the profitability of the insurance business and payback periods
If the business plan of the insurance company was prepared according to all the rules, then the profitability of the business will be about 2% per month of the invested funds. To assess profitability as accurately as possible, you need to divide monthly expenses by profit. On average, investments in an insurance company will pay off in about 4-5 years.