State farm business proposal example

Insurance Business Proposal

Marcel Louidort

Boynton Beach, FL

2016

Office Hours:

Monday and Friday from 9:00 A.M. to 6:00 P.M.

Tuesday, Wednesday, and Thursday from 9:00 A.M. to 5:00 P.M., and

Saturday from 9 A.M. to Noon

TABLE OF CONTENTS

Section Name Page Number

Agency Vision & Mission
Our goals for Year 1

Agency Market Analysis
Market Demographics
Agency Community RelationshipS Plan

Agency Analysis

Building An Agency
Capital investment
agency office management plan
marketing
agency production goals
30-60-90 Day plan

Agency Compensation Projections
input expenses Sheet
input production Sheet
income summary Sheet
book of business summary sheet
AGENCY VISION AND MISSION

Our Agency Vision

Our Mission Statement

OUR GOALS FOR FIRST YEAR

List your high-level goals for the office. Examples of these goals include Ambassador Travel, Top 100 New Agents and/or excelling at Territory / Market promotions.

The Agent:

The Team:

Our Office Facility:

Our Customer Service:

AGENCY MARKET ANALYSIS

Market Demographics

Discuss the demographics and growth opportunities in the prospective Agency locations. How will this market research affect the Agency? What specific customer needs have you identified?

Note: Community is the local market; Market Area is broader, ie: the county in which your community is located.

Primary Market Area:

Demographic Analysis

Community

Micro Market

Market Area

Macro Market

Population

Population Trends

Number of Households

Home Ownership Rate

Median Housing Cost

Median Income

Language Other Than English

Market Factors

State Farm Household Penetration

Auto Penetration

Fire Penetration

Agency Community Relationships Plan

Communicating With and Involving Team Members
How will you utilize your team members to build your brand and presence in your community/market area?

Monitoring Community Relationships
How will you measure your involvement and impact in the community? What strategies will help to maintain and build relationships in your community?
Agency Analysis

Summarize your Agency Analysis by identifying the most important aspects of your business situation. Record your agency and market Strengths, Weaknesses, Opportunities & Threats/Competitor Analysis below.

STRENGTHS

WEAKNESSES

·

·

OPPORTUNITIES

THREATS / COMPETITOR ANALYSIS

·

·

BUILDING AN AGENCY

Capital Investment

How much capital do you anticipate having accessible in the first 6 to 24 months. How will investing in your Agency impact your other financial commitments. It is recommended that you have 12 months of your personal expenses set aside with access to additional funding.

Agency Office Management Plan

Recruiting Plan
How many team members do you plan to have? What types of recruiting do you plan in finding your team? Do you have a growth strategy for increasing your team in the future? What is your team member skill set requirements?

Agency Team Member Compensation Package
How will you compensate your team? Will you incorporate a bonus/incentive program? If so, explain.

Team Member Training Plan
How will you train & develop your team?

Accountability & Team Meetings / Team Meeting :

Do you have specific production / sales requirements for your team? (See the chart below)

How will you measure and hold your team accountable for results? When & how often will you meet with your team? What will be the focus of the meetings?

Agency Production Goals:

List your office production goals that match the Year 1 monthly goals in your compensation simulator. This table will reflect the distribution of your monthly goals for yourself as the agent and each team member.

Product Name

Monthly Team Total

Agent

Team

Member

#1

Team

Member

#2

Team Member

#3

Annual Team Total

Auto

Fire

Life

Health

Bank Loans Credit Card Products

Bank Deposits – Checking/Savings/CD’s

Mutual Funds

Marketing

How do you plan to tailor your sales and marketing strategies to meet the needs of the market? Provide some specific examples of sales and marketing tactics that you would employ. What is your marketing and advertising breakdown?

Marketing/Advertising Breakdown

Marketing

Monthly Budget

Annual Budget

$

$

$

$

$

$

$

$

$

$

Year 1 Marketing Totals:

$

$

Agency Production Goal Strategies

Agency goals are the drivers of your business. These goals should align with your Personal Goals. Some example goals are listed below; do not feel obligated to use the ones provided and please add any additional strategies if necessary.

Auto Goals and Strategy

The yearly objective is to write new/reinstated autos per month or annually. Specific Auto growth targets are (ex. raw new, added cars, youthful and commercial)

1.

Fire Goals and Strategy

The yearly objective is to write new/reinstated fire policies per month or annually. Specific targets are….. (Ex. H/O, renters, other personal lines policies and commercial)

1.

Life Goals and Strategy

The yearly goal is to write/issue policies with $ premium and average premium volume of $ per case. Specific targets are…. (Ex. Term Life, Whole Life and Universal Life)

Health Goals and Strategy

The yearly goal is to write/issue policies with $ premium. Specific targets are….(ex. Fortis, Long Term Care, Med Supp, new health HH)

SF Bank Product Goals and Strategy

The yearly goal is to book deals/accounts per month or annually. Specific targets are….(ex. Deposits, loan products, credit cards)

Mutual Fund Goals and Strategies

The yearly goal is to book accounts annually with an average account size of $ Specific targets are…. (ex. Account size, number of accounts)

Retention Strategies
How do you plan to sustain relationships with clients?

30-60-90 Day Plan

How do you plan to prepare 90 days prior to your opening? What tasks will you be completing prior to your opening?

What do you anticipate doing 30-60-90 Days after your opening?

COMPENSATION SIMULATOR in www.SFRPX.com
(Print or insert the PDF documents)

Ø Expenses Summary

Ø Production Summary

Ø Income Summary

Ø Book of Business Summary

Marcel Louidort

Boynton Beach, FL

2016

Office Hours:

Monday and Friday from 9:00 A.M. to 6:00 P.M.

Tuesday, Wednesday, and Thursday from 9:00 A.M. to 5:00 P.M., and

Saturday from 9 A.M. to Noon

TABLE OF CONTENTS

Section Name Page Number

Agency Vision & Mission
Our goals for Year 1
Agency Market Analysis
Market Demographics
Agency Community RelationshipS Plan

Agency Analysis
Building An Agency
Capital investment
agency office management plan
marketing
agency production goals
30-60-90 Day plan
Agency Compensation Projections
input expenses Sheet
input production Sheet
income summary Sheet
book of business summary sheet AGENCY VISION AND MISSION
Our Agency Vision

Our Mission Statement

OUR GOALS FOR FIRST YEAR

List your high-level goals for the office. Examples of these goals include Ambassador Travel, Top 100 New Agents and/or excelling at Territory / Market promotions.

The Agent:

The Team:

Our Office Facility:

Our Customer Service:

AGENCY MARKET ANALYSIS
Market Demographics
Discuss the demographics and growth opportunities in the prospective Agency locations. How will this market research affect the Agency? What specific customer needs have you identified?
Note: Community is the local market; Market Area is broader, ie: the county in which your community is located.
Primary Market Area:

Demographic Analysis

Community

Micro Market

Market Area

Macro Market

Population

Population Trends

Number of Households

Home Ownership Rate

Median Housing Cost

Median Income

Language Other Than English

Market Factors

State Farm Household Penetration

Auto Penetration

Fire Penetration

Agency Community Relationships Plan
Communicating With and Involving Team Members
How will you utilize your team members to build your brand and presence in your community/market area?

Monitoring Community Relationships
How will you measure your involvement and impact in the community? What strategies will help to maintain and build relationships in your community? Agency Analysis
Summarize your Agency Analysis by identifying the most important aspects of your business situation. Record your agency and market Strengths, Weaknesses, Opportunities & Threats/Competitor Analysis below.

STRENGTHS

WEAKNESSES

·

·

OPPORTUNITIES

THREATS / COMPETITOR ANALYSIS

·

·

BUILDING AN AGENCY
Capital Investment
How much capital do you anticipate having accessible in the first 6 to 24 months. How will investing in your Agency impact your other financial commitments. It is recommended that you have 12 months of your personal expenses set aside with access to additional funding.

Agency Office Management Plan
Recruiting Plan
How many team members do you plan to have? What types of recruiting do you plan in finding your team? Do you have a growth strategy for increasing your team in the future? What is your team member skill set requirements?

Agency Team Member Compensation Package
How will you compensate your team? Will you incorporate a bonus/incentive program? If so, explain.

Team Member Training Plan
How will you train & develop your team?

Accountability & Team Meetings / Team Meeting :

Do you have specific production / sales requirements for your team? (See the chart below)

How will you measure and hold your team accountable for results? When & how often will you meet with your team? What will be the focus of the meetings?

Agency Production Goals:

List your office production goals that match the Year 1 monthly goals in your compensation simulator. This table will reflect the distribution of your monthly goals for yourself as the agent and each team member.

Product Name

Monthly Team Total

Agent

Team

Member

#1

Team

Member

#2

Team Member

#3

Annual Team Total

Auto

Fire

Life

Health

Bank Loans Credit Card Products

Bank Deposits – Checking/Savings/CD’s

Mutual Funds

Marketing
How do you plan to tailor your sales and marketing strategies to meet the needs of the market? Provide some specific examples of sales and marketing tactics that you would employ. What is your marketing and advertising breakdown?

Marketing/Advertising Breakdown

Marketing

Monthly Budget

Annual Budget

$

$

$

$

$

$

$

$

$

$

Year 1 Marketing Totals:

$

$

Agency Production Goal Strategies
Agency goals are the drivers of your business. These goals should align with your Personal Goals. Some example goals are listed below; do not feel obligated to use the ones provided and please add any additional strategies if necessary.
Auto Goals and Strategy
The yearly objective is to write new/reinstated autos per month or annually. Specific Auto growth targets are (ex. raw new, added cars, youthful and commercial)

1.

Fire Goals and Strategy
The yearly objective is to write new/reinstated fire policies per month or annually. Specific targets are….. (Ex. H/O, renters, other personal lines policies and commercial)

1.

Life Goals and Strategy
The yearly goal is to write/issue policies with $ premium and average premium volume of $ per case. Specific targets are…. (Ex. Term Life, Whole Life and Universal Life)

1.

Health Goals and Strategy
The yearly goal is to write/issue policies with $ premium. Specific targets are….(ex. Fortis, Long Term Care, Med Supp, new health HH)

1.

SF Bank Product Goals and Strategy
The yearly goal is to book deals/accounts per month or annually. Specific targets are….(ex. Deposits, loan products, credit cards)

1.

Mutual Fund Goals and Strategies
The yearly goal is to book accounts annually with an average account size of $ Specific targets are…. (ex. Account size, number of accounts)

1.

Retention Strategies
How do you plan to sustain relationships with clients?

30-60-90 Day Plan

How do you plan to prepare 90 days prior to your opening? What tasks will you be completing prior to your opening?

What do you anticipate doing 30-60-90 Days after your opening?

COMPENSATION SIMULATOR in www.SFRPX.com
(Print or insert the PDF documents)
· Expenses Summary

· Production Summary

· Income Summary

· Book of Business Summary