How to create your own insurance company

The competition in the insurance business is quite high, despite the fact that significant funds are required to open a company. But recently, new types of insurance have also become popular: financial risks or property rights. So you still have a chance to become a leader by intelligently combining several types of services.

Instruction manual

1

Register a legal entity (LLC, OJSC, ZAO or mutual insurance company). Please note that opening an insurance company requires an impressive authorized capital of at least 20 million rubles. In addition, in order for registration to be successful, specify in the charter that your only activity is insurance (with a list of activities).

2

Make a business plan for the future insurance company, in which clearly describe all tariffs for services, as well as the size of insurance premiums adopted by the meeting of the founders.

3

Obtain a license for each type of service from the supervisory authorities. To do this, you need to submit the following documents: - statutory documents of the company;

- tariffs for company services and size of payments;

- business plan of the organization;

- Information about the founders of the company (education, work experience and income statements).

4

Find a suitable room for the head office (necessarily in the city center) and several premises for branches (in different areas of the city). It is desirable that the head office is located in a separate building. Get positive feedback from the health and fire services. Design all the offices in a single corporate identity. Submit an application for registration of the company name to Rospatent. While you are waiting for an answer from Rospatent, start working.

5

Get a database of the best employees of regional insurance companies. Professionals in this area are very highly valued, so you may have to outbid employees from other insurance companies. From time to time, interview newcomers to insurance to educate your staff.

6

Promote your company as actively as possible, but remember that direct advertising in this area will not take proper effect. Therefore, conclude agreements with banks, healthcare institutions and car dealerships, offering the widest range of opportunities for mutually beneficial cooperation.