It is isn't just enough to have the degree and think of starting an insurance company, you need to consider some things and be sure you are good with it and can handle them before starting out. So what are the factors to consider;
Confidence level.
This is one business that thrives mostly on trust and commitment. You must imbibe utmost good aith and be honest. You must exude confidence to be able to convince your would be insured to buy your products.
Free Market Failures
This is about the larger insurance ompanies overpower the smaller ones. There's always high level of competition. You would need to consider this too. How you would be dealing with it. Maybe how you would recoup losses incurred with lower prices strategy that was used to lure insureds.
Slim Profits
You need to consider what you would do when slim or low profits comes in .Declining profits are still another explanation for insurance failures. This is one factor to know and see how this will addressed for a successful insurance business
Management Mistakes
insurance failure occurs due to a combination of factors and this is one point you need to consider before starting. How do you intend to handle this.
Confidence level.
This is one business that thrives mostly on trust and commitment. You must imbibe utmost good aith and be honest. You must exude confidence to be able to convince your would be insured to buy your products.
Free Market Failures
This is about the larger insurance ompanies overpower the smaller ones. There's always high level of competition. You would need to consider this too. How you would be dealing with it. Maybe how you would recoup losses incurred with lower prices strategy that was used to lure insureds.
Slim Profits
You need to consider what you would do when slim or low profits comes in .Declining profits are still another explanation for insurance failures. This is one factor to know and see how this will addressed for a successful insurance business
Management Mistakes
insurance failure occurs due to a combination of factors and this is one point you need to consider before starting. How do you intend to handle this.