Insurance Premium Finance Service Business Plan and SWOT Analysis

Insurance Premium Finance Service Business Plan, Marketing Plan, How To Guide, and Funding Directory

The Insurance Premium Finance Service Business Plan and Business Development toolkit features 18 different documents that you can use for capital raising or general business planning purposes. Our product line also features comprehensive information regarding to how to start an Insurance Premium Finance Service business. All business planning packages come with easy-to-use instructions so that you can reduce the time needed to create a professional business plan and presentation.

Your Business Planning Package will be immediately emailed to you after you make your purchase.

Product Specifications (please see images below):

  • Bank/Investor Ready
  • Complete Industry Research for the Industry
  • 3 Year Excel Financial Model
  • Business Plan (26 to 30 pages)
  • Marketing Plan (24 to 28 pages)
  • 425+ Page Funding Directory
  • PowerPoint Presentation
  • Loan Amortization and ROI Tools
  • Three SWOT Analysis Templates
  • How to Start a Business Guide
  • Easy to Use Instructions
  • All Documents Delivered in Word, Excel, and PowerPoint Format
  • Meets SBA Requirements

Insurance premium financing companies have become extremely popular over the past 10 years in order to provide more affordable monthly payments to individuals that require vehicle insurance and home insurance. These businesses are almost always able to remain profitable given that they front the money necessary to purchase insurance policy and then break those payments into smaller chunks so that people on lower and fixed incomes can afford to have insurance. Given the ongoing costs relating to insurance within the United States – these businesses have seen an explosion. Typically, the average startup cost for new insurance premium financing company is approximately $250,000 to $750,000. This is due to the fact that there needs to be a significant amount of capital on hand in order to finance premiums on behalf of customers. In some instances, entrepreneurs looking to enter this field will obtain a line of credit will be secured by the monthly payments made by customers. Most banks and lenders are willing to provide a strong level of financial support to insurance premium financing company given the highly recurring streams of revenue generated coupled with the fact that most insurance policies are secured and can be cancel at any time.

If an individual is looking to raise money to start this type of business than they are going to need to have an insurance premium financing company business plan. Within this documentation a special focus should be paid to the highly recurring streams of revenue that are generated by customers that need to have insurance policies financed over a certain period of time. With all business plans, a three year profit and loss statement, cash flow analysis, balance sheet, business ratios page, and related documentation should be included within the document. Additionally, a thoroughly developed demographic analysis should also be provided given that these businesses are targeting lower and middle income people. At analysis regarding their ongoing insurance needs, monthly income, how is a can afford to pay for insurance, population density, population size, and whether the business will be operating on a regional or national scale should be discussed. Additionally, a thorough overview of the procedures and protocols for providing financing to customers should be included as well.

An insurance premium financing company marketing plan also needs to be developed and it needs to be extremely detailed. There is now a significant amount of competition in this field, and as such, special attention needs be paid on how these businesses will properly acquire customers throughout the life of the business. One of the ways that these companies will frequently initially develop their operations is by partnering with local and regional insurance agencies in order to provide their clients with insurance premium financing services. This is one of the strongest way that an entrepreneur can enter this field without having to take a very large capital risk as it relates to marketing. Additionally, many of these businesses will maintain an expansive online presence which includes the use of pay per click marketing as well as search engine optimization. These online portals usually seeks to capture a potential customers information so that they can be contacted directly via phone or by mail.

Beyond the business plan and marketing plan, an insurance premium financing company SWOT analysis is frequently developed as well. For strengths, the demand for insurance premium financing does not tend to wane in any economic climate. This is a business that does well and good times or in bad times. For weaknesses, there is a significant amount of capital required in order to launch his operations and the industry is very competitive. For opportunities, most of these businesses will seek to expand their capital base either by raising capital from private investors or by obtaining a line of credit that they can use to issue insurance policies on an ongoing basis. As it relates the threats, this can be a pretty big unknown aspect of the industry at this time. These businesses typically are regulated at the state level and generally have very little federal oversight. However, with the increasing demand among consumers for greater protections – Congress and other lawmaking entities may seek to establish laws that impact the way that these companies conduct business on a day-to-day basis.