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Insurance Business Plan Template [2020 Updated]

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II. Company Overview


You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Who is [Company Name]?

[Company Name], located at [insert location here] is a new small business insurance brokerage firm finding property, casualty, and health insurance to its clients. The company will operate in a professional setting, conveniently located next to [notable bank] in the center of the shopping district. [Company Name] is headed by [Founder’s Name], an MBA Graduate from UCLA with 20 years of experience working as an insurance broker for businesses and individuals

While [Founder’s Name] has been in the insurance brokerage business for some time, it was in [month, year] that he decided to launch [Company Name]. Specifically, during this time, [Founder] met with a former friend and fellow independent small-business insurance broker in Fort Lauderdale, FL who has had tremendous success. After discussing the business at length, [Founder’s Name] clearly understood that a similar business would enjoy significant success in his hometown.

Specifically, the customer demographics and competitive situations in the Fort Lauderdale location and in his hometown were so similar that he knew the business would work. After surveying the local population, [Founder’s name] went ahead and founded [Company Name].

[Company Name]’s History

Upon returning from Fort Lauderdale, surveying the local customer base, and finding a potential retail office, [Founder’s Name] incorporated [Company Name] as an S-Corporation on [date of incorporation].

The business is currently being run out of [Founder’s Name] home office, but once the lease on [Company Name]’s office location is finalized, all operations will be run from there.

Since incorporation, the Company has achieved the following milestones:

  • Found office space and signed Letter of Intent to lease it
  • Developed the company’s name, logo and website located at [website]
  • Hired an interior designer for the decor and furniture layout
  • Determined equipment and fixture requirements
  • Begun recruiting key employees

[Company Name]’s Products & Services

[Founder’s Name] will be able to provide clients with the following services:

  • Health Insurance: finding health insurance deals that work even for small businesses and are able to scale as the company grows
  • Key Employee Insurance: a common need for small businesses, covering employees without whom the company would likely fail
  • Property Insurance: insurance for owned property of the company
  • Renter’s Insurance: insurance for small businesses which rent their facilities
  • Casualty Insurance: product, personal, and other casualty insurance
  • Ongoing Consultation: willingness to discuss insurance needs, requirements, and questions with clients and to better explain to them the options they have and what their plans cover
  • Webinars: For clients and potential clients, regular webinars will discuss topics of interest related to small business insurance

As [Founder’s Name] understands, the key to a successful brokerage business is being accessible and staying in contact with clients. [Founder’s Name] will have a full-time assistant on hand who, among other things, will manage client’s phone calls and answer questions as possible.

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