How To Start An Insurance Company
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- Опубликовано: 15 июл 2024
- Need more help? Check out: chriscostantini.com/
Contact me: chris@adelfiainsurance.com
Check out my podcast available on Spotify! open.spotify.com/show/12gWElY...
In this video I will go in depth into how to start an insurance company. Be sure to check out our social media pages linked below.
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Well said obtaining those direct appointments are a new agents biggest obstacle. Also once you get the appointments you need to feed those carriers and be profitable. Thx for sharing
Clear and concise!! Thank you Chris
Thank you so much for sharing your knowledge and experience. Greatly appreciated.
Always happy to help heidi
Love all your tips 🥰
Good command over English language as well as the subject.
A lot of helpful insight, Thanks Chris
Glad it was helpful!!
Ty I will be on all of this
You get right to the point 👍🏼👍🏼👍🏼👍🏼
That’s right, no time for fluff
i'll have my agency in 2 years. appreciate your help!
Lets go Tim!! Wish you the best of luck getting going.
This is good stuff Thank you sir and god bless
Thanks Chris, this helps!
Thank you for share this amazing video 🙏🏻
Great video. Useful information.
Wow this is awesome. Great video.
U r a game changer
Getting the right appointments is a biggy!
Thanks for sharing with us
My pleasure, I hope it helped!
Hi, Thanks for the information.wanted to know once Insurer gets licence then they to need approach ISO for there service?
This was dope
I greatly appreciate you sharing with us. I'm currently on my second year and yes the first year was ruff, this year i want to aim double in policies, premium etc.. any tips maybe a video for us on how to?? Your videos are helping so much thank you
Hi mom is that you?!
Hi Priscilla! That's exactly what I had aimed for and continue to strive to do. This is an extremely loaded answer but the way to double in size is "activity". You need to ramp up everything (leads, calls, emails, networking, marketing content, etc). I'll make a video specifically on how to do this.
how’s it going
What’s the best insurance to sell for new brokers in your opinion? Life insurance ?
I wanna start a carrier so I can insure my car for free 😂
My parents used to own a restaurant when I was a kid. Everyone thought the food was free. It's not.
See I'd you can self insure with your state but you need millions to become a carrier.
@@indomitableincorporated7988No you don't need millions. Most states require a $10k-$100k bond but they wont do it unless you own 25+ cars.
I want to start my own Auto Insurance agency. So I need to start as an agent to a Car insurance company to gain experience. Which company can you recommend to start with?
GREAT VIDEO CHRIS THANK YOU 😂
You’re welcome! Hope it helped 👍
For a few months now I have been searching tirelessly for information on how to start investing. I even payed $1000 for a course that I now regret. It appears that there is no structured guidiance for beginners on how to get started in this realm. I've come across several investors making well over $250k/annum and would be grateful if anyone on here could provide insights on how to get started, identify potential stocks, when to make an entry, exit etc.
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DEBORAH STAVARACHE CASTRO is the analyst/brokerage-adviser. She has been of great help and her tutelage has brought me to a higher understanding of profit generation. You can look up her name on the net for her page and reach out. She Understands the job perfectly
thank you so much for your Recommendation
Thanks for sharing ☺️👌
Happy to help Din!
WOW!This is so amazing sir
Appreciate that!
@@christheinsuranceguy Pleasure
A serious qiestion, if someone wanted to start a vehicle insurance company and not charge its users so long as they agree to pay any relevant damages to their own vehicle and others vehicles/property for any and all kinds of incurred damages if they arise?
There will be obstacles for example you hit and damage a super car and the bill is 5 or 6 figures but is it still plausible to set up a company like this which cannot be claimed against by either the customer or the affected external party?
Thanks
You’re welcome!
Thx man
You’re welcome!
Does anyone have any info, links , books etc on steps on how to be an insurance carrier?
Chris, Thank you for all the info- great stuff. As far as the appointment goes. I signed up with aggregator and it didn't reflect in the state appointment. Yet I am appointed with bunch of carriers but nothing reflecting in the state. Can you please advise. Thank
Hey Maha, a bit confused. Honestly not sure why the state appointment matters. The biggest hurdle is just getting access to the products. What are you looking to accomplish?
I can assist with agent appointments if you’d like. I work for a Reinsurance company that owns a primary carrier and surplus lines carrier and manage the Regulatory operations(including agent appointments)
You mentioned that I need to get a contract with "AAA" or "Nationwide liberty", are these companies offering services in Canada as well? or do you know any Canadian Companies I can get a contract with, can you please advise, please.
P.s My main focus is to start an Auto Insurance Agency.
Hey Fizz, I think you emailed me on this. I honestly don’t know much about Canadian insurance companies unfortunately. But I imagine it’s a similar situation with contracting
Good advice..I wonder if the broader concepts can be applied to other forms of entrepreneurship
Definitely can Michael. I honestly feel like I could scale another business in a different industry once I understood the foundation. I'll try to make a broader video.
UK car insurance for younger first time drivers average at like 2-4k I want to change that 😔
Not sure how you can change the rates but you got this man 💪🏼
I plan to be an independent agent that can shop around for clients. What’s the best carrier for professional liability insurance that you recommend? Traveler’s?
Professional liability is cheap and easy to write through Hiscox. That’s what I used when I first started up!
That really all depends what type of professional. Travelers is a great company for bonds and specialty, including miscellaneous professional and other specific professional policies.
@@MrOldskoolgamez true, thank you for the input! Always depends on the needs
currently in the real estate business and i deal with 10-20 transactions a month right now. looking to start an insurance company to start locking in all the business that im getting right now. willing to pay for some more advice and insight on how to get the cheapest policies for my clients and how to structure the company etc.
Happy to help Michael. That’s essentially what my agency does. Feel free to reach out to me and schedule a time on ChrisCostantini.com
I highly recommend never selling on price. Always sell on coverages and value. You want to offer the best protection and service for your clients. It will benefit you more in the long run instead of chasing after the cheapest price.
@@MrOldskoolgamez 1000% agree with this comment
Hey, is the insurance business laws a lot different in the uk? I’m trying to open up an insurance broker business here and wanted to know
I don’t believe there is a dramatic difference. I sell products from the Lloyds of London which I believe is actually in the UK. That makes me think there are similar guidelines. Best to reach out to your local department of insurance
Hi Chris how’s going? Thanks for all the information you provide to us, god bless you, I would like to know once I get my personal PC license hoy do I convert that license to an agency, I already have a LLC company ready to start my agency. What would be the process to have a Licensed agency and get appointments. Thanks a lot
Hey hun you can reach to Jozebrain7 on Instagram he gives the best service you will ever want
Hey Elver, I appreciate it and God bless you too! Once you have the PC license you can request an "entity license" from your department of insurance for your LLC. They'll give you the application and you can get a new license number for the "entity" registered.
hi
thank you video. i just get my P&C Brokerage license with s cooperation.
I do not know to contract with insurance company.
which deperment i need to contrack ? and how
Hello, I would start googling the companies that you want a contract with and go to the "appointment" section. This is where you can apply to get a contract with them. It's very difficult to get approved if you don't have previous experience but definitely worth a try. If that doesn't work, I suggest joining a cluster.
Hey hun you can reach to Jozebrain7 on Instagram he gives the best service you will ever want
@@christheinsuranceguy what is a cluster if I may ask?
@@DarkNight123 I just made a video on this! Check out my profile and watch “what is an insurance alliance” it’s the same thing
Love this need this help right now I’ll prob email you . Thank you sooooo much !!!!
Sounds great heather! Chris@adelfiainsurance.com if you ever need me
The title to video is wrong... brokerage, not company.
Hi! Thanks for the valuable information. I would like to know where is your agency located?
We’re in Los Angeles
If I’m already an agent appointed with a lot of carriers, can I keep my contracts and switch them over when I start my own brokerage?
How are you appointed on your own as an agent if you don’t have your own brokerage?
Btw great video
thank you!
Hey question I'm in customer service in the insurance company, how do I go about investing into a insurance company as a co owner, Thanks for the Video.
That’s a great question. I would start reaching out to insurance agency owners and see if they’re willing to give up some equity of the business in return for cash investment! I would certainly consider it if the right offer was made
@@christheinsuranceguy Ok , I have 250k, can we talk ?
@@jsz8283 I’d be open to talking. Feel free to email me if you want to discuss. Chris@adelfiainsurance.com
Thank you for the advice. Most RUclips videos all they do is talk and say nothing..
Haha I’m glad this helped!
What's the difference between doing this and join Primerica etc..
Primerica, Transamerica, etc are Life Insurance companies. They have kind of a bad reputation for being “pyramid scheme” like. What I’m doing is running a full property and casualty + life and health insurance brokerage. Very different!
@@christheinsuranceguy thanks
I want start my own insurance company..I need your help 🙏🙏🙏
Let me know what I can do to help you
I don’t have any experience. I’m a semi truck driver I have 250k in hand. My uncle have 7 semi trucks. We have friends that have about 20+ trucks I want open my own insurance company and as you see clients will not the problem. I need advice, maybe a partner. Thanks 🙏
Do you need any type of Software ??
Several different systems are necessary. Watch my video on the systems you need
how much capital do i need to start? can you create a video about?
Yes I have a few videos on that. You need at least $10-15k to start
$0.00
How do I start an insurance carrier? I want to offer insurance for owners of strange supercars that people can't normally get insurance on. I have a lot of money.
I want to start my own insurance agency. Im studying Bcom(law), and next year I'm doing BA law. I want to get my Master's in insurance law and one day start my own firm.
Great place to start with Law. I think that would give you a slight edge in the insurance world having that background. Let me know if you have any questions on how to get going.
@@christheinsuranceguy thanx man appreciate the advise. Will do. Do you have an email address maybe I can Email you if I have a serious problem.
So if I want to start a pet insurance company…. How do I do this?
Hi Serene, I honestly don’t know about a pet insurance company. Those products are only offered by specific carriers that I don’t really work with
@@christheinsuranceguy ok thanks!!
Are we missing something about "How to start an insurance company", or is this better titled " Some things to know if you want to be an insurance agent/broker"?
It sounds like you’re looking to start an insurance “carrier”. This is more for brokerage/company
@@christheinsuranceguy Thanks
Hi Chris!
My name is serghei Berdila
I want to open Commercial ins
Why title it How to start an insurance company?
Agents will soon be a thing of the past in the next ten years.
Arguable
@@christheinsuranceguy, Of course, it is to you because you don't want to lose your business. Technology is replacing ya, buddy. Good luck.
I disagree. Many if not most Medicare bfc do not have computers. They need a personal agent more than ever. What technology do you think is going to replace a person who cares?
@@Slipy300000 Oh, no. Technology is taking that market over as well just not at a pace at which you see it in P&C. It is however growing rapidly each year at a record pace. What "they" need is to conform to the times. Nothing ever stays the same nor will it ever. What technology do I think will replace a person that cares...one that is not worried about its commission. The profits from the transaction go straight to the insurance company. It is happening. I actually help build the technology that is doing just that. Sit back and enjoy the show.
@@mbrianperry1 lol
Llc or INC ?
LLC in my opinion but I’m not a cpa
Where are you located?
Los Angeles
Insurance. Where you sell a product that doesn’t physically exist.
Not until shit hits the fan! That’s when it exists
Can we talk?
Sure! Email me or DM on Instagram
Video title should be how to start an insurance agency not company
Yeah insurance carriers are a little different. Happy to explain that too
E&O
I’m here because I’m sick of paying RIDICULOUS car insurance premiums.
Ken I’m sorry to say this but it’s only gonna get worse. Rates will likely go up 20% in the next year or so
@@christheinsuranceguy Thanks Chris. I reached that conclusion as well. I’m done paying it. I’ll take my chances.
Can I email you. What’s the email please.
AW WE ABSOLUTELY DETEST THE CAR INSURANCE COMPANIES DON'T WE? AN-ND-D WE-E-E. 'A-ATE FOR-R-REST-ST! AW WE ABSOLUTELY DETEST THE WAY THAT THIS MODERN WORLD HAS BECOME DON'T WE? AND ALL THE MONEY GRABBING CORPORATIONS WHO HAVE MADE LIFE AN ANSOLUTE LIVING NIGHTMARE FOR MILLIONS OF PEOPLE AROUND THE WORLD! AND WE 'ATE FOREST!
I’m not sure what you’re yelling at me for