How do i open an insurance brokerage?

Question

How do i open an insurance brokerage?

Answer 1

I hope the one answered earlier didn't got the idea about your question and thus he given some idiotic answer.

If you want to be an insurance broker, the preliminarily step to contact a company and register to write the IRDA exam on behalf of that. Once you got passed the exam, then you can work for them as there insurance consultant.

It is strict to not work for any other company once if you have attached with a company.

Does this make sense ?

Answer 2

You don't need big bucks to do this.

The very basic answer is, get a license to sell insurance, and get an insurance company to give you a contract to sell their policies.  That's it.

If you don't know how to do those, though, you really need to get a job working for a brokerage, so you can learn about the business.

Answer 3

If you want to be a broker to sell insurance for different carriers, you need to get licensed and contact the carriers you want to get appointed with. Some carriers only use career agents. If you are selling P&C some carriers won't even contract you until you have a proven track record and some states require a license for a surplus lines broker on top of your insurance license.

A brokerage is where you would be giving brokers contracts and getting an override commission on the business they write. In order to do this you need to become a good producer then you can recruit brokers to write business that you will get an override on.

I have a good contact for life and annuity business I can refer you to just contact me if you are interested.

Answer 4

Step 1 - Start out by saving...give or take...$100Million

once u have that much liquid equity...god will lead the way....

good luck!