NLIC.org

Becky Said:

How do i start my own insurance broker business?

We Answered:

Go to the department of insurance website for your state and find out what the rules are.

Generally speaking, you will need to have some number of years experience in the insurance industry (it may vary by state) before you can even take the brokers test. You will need to take the state license test before you are a broker. As far as I know, all states also require you to take some number of hours of approved education courses. Again, it will vary by state.

Insurance is regulated by state and they don't just let you hang a sign out and start selling insurance if you don't know what you're doing. It requires learning the business first.

Corey Said:

what is the best way to market a small insurance broker?

We Answered:

Make a webpage or a blog about your dad,s business with all the contact addresses. Then simply use google adwords to direct the customer to your site. Its cheap and its fun. Suppose you choose the word "insurance" on Google Adwords, then all the people searching for insurance will see your link at the side of the first or second page and you will only be charged a few cents only when a user clicks on your link and visits your site.

Sean Said:

Are business owner frustrated with their insurance broker?

We Answered:

Yes, I think it's your circle of contacts. My experience is on employee benefits and most of the business owners I know trust and rely on their brokers.

Back in the 90's, the state of California did focus groups with small businesses in connection with a purchasing pool they were creating. With one exception, the business owners stated they were happy with their brokers and didn't think they were overpaid.

The reality is, a good agent can save you money. The dark side, of course, is that a bad agent can waste money. The good news is you can generally fire an agent the first of any month. So if you're not happy with your current broker, replace him or her.

For health insurance, you can find agents through their national trade association. Just go to http://www.NAHU.org, click on the Consumer Information tab and then the Find an Agent link.

Janice Said:

Do I need to use an insurance broker to buy business insurance?

We Answered:

Business insurance is much more complicated than home or Auto insurance. Although there may be websites that offer coverages, what coverages do you need and what coverages are just wasted money? Not many people know the answers to these questions when shopping for business insurance.

I would recommend using an independent insurance agent as they can market to multiple insurance companies and make sure to find you the best deal out there. And as stated above, insurance agents are NOT middle men, we are an INDEPENDENT individual that is here to help you find the right coverages for your business. Would you rather have an employee of the insurance company telling you about the "specials" and "discounts" their products have, or would you rather have an independent agent tell you which company is the best fit for you?

Companies that write direct did not ELIMINATE the "middle man", they just hired him and now has to pay him commission and pay for his benefits.

Good luck to you!

Tom Said:

In insurance business (Agent/Broker/Underwriter) will be there? Who is Underwriter? and what Responsibility?

We Answered:

The Agent writes the business...you see them personally. Underwriters are the people that inforce the rules. When we have a situation at work that I'm not sure how to handle...I call my Underwriter. Also, they are the ones that give final approve to writing a piece of questionable business.

Diane Said:

how do I set up an on-line Insurance business?

We Answered:

you need a professional web site/domain name
www.sdhinternet.co.uk can provide you with both,

drop me a mail shaun@sdhinternet.co.uk

before you do this you need to get in touch with insurance companies to get their permission to be a broker for them.