I have experienced working with an insurance company [X] for 12 years and have collected great experience in managing insurance programs. In addition to the insurance program, the company also deals in other matters such as operations and so on. I work in the capacity of manager and lead a team of 5 competent members.
Over the course of my service, I met with hundreds of people due to their insurance issues and cleared their minds regarding its objectives. The major task of our job was to answer the queries of our valued clients and provide them ease regarding their insurance plans. It is important for every citizen to have insurance that covers losses and protects its holder, therefore, there are many clients to sell insurance plans, but competition is very high. There are many insurance agencies in the market that provide attractive offers to draw clients towards them.
It is not easy to attract clients as they will move wherever they have to spend less money and get a handsome deal. Sometimes, it gets difficult to manage 10 clients per month. There are different types of insurances and a client chooses whatever type and plan would suit him. I always wanted to provide options to the clients that work best in their favor but being associated with a company, I cannot make my own rules.
Therefore, I have decided to start my own insurance agency that will provide true guidance to clients without thinking about its own revenue. If we work in the right direction, sooner or later we get paid for our good deeds. It may take time, but good deeds always return.
To start an insurance business, we must seek approval from the [X]. My proposal for the said business is completely approvable and followed the rules. Attached to this letter is the document containing my proposal.
Looking forward to your feedback.
[Designation] at [X] company
Insurance is defined as the process that provides protection from financial loss. It is a type of risk management that is prepared before any incident or disaster occurs. The person who buys insurance from the company is known as insured whereas the company is known as an insurer or an insurance company.
Agreement between the company and insurer occurs in a way that the company will cover the loss of the insurer financially if the insured compensates for the covered loss. Loss of insured can be financial or not but it will be reducible to financial by the agency. Insured receives a contract known as an insurance policy that defines all the terms and conditions of the insurance and includes the signing amount which is known as premium.
General insurance covers home, health, travel, and vehicle from flood, accidents, fire, man-made disasters, and theft. General insurance pays for the losses that the insured suffered due to the above-mentioned reasons during the period of the policy. There are different types of general insurance plan that a client can choose according to their need. These plans include,
To start an insurance agency from scratch is not an easy task. It requires an immense amount of time and money investment, still, it takes years for it to be successful. Some of the objectives that are to be fulfilled on a priority basis include,
It is not easy for an insurance company to become successful and start getting business easily. It is a slow process and perseverance, and persistent nature is required to make it successful. Some of the key steps that can be followed include,
Employees working at an insurance company are required to achieve a basic degree. No specific degree is required but a specific skill set can take you a long way in the field of insurance. Some of the skills that can come in handy include,