Insurance Journal Forums

Help Please! I am considering the thought of starting an insurance firm. I am looking at the Risk Management for industry area for Safety and Environmental. Could anyone please let me know where I should start? I mean, what I problems do I face? How would I get started? How to I find company's the insurance they need? Etc. Obviously, you can see that I do not currently do this. I need a plan B should my current employment fail and I would like to build this business on the side.

THanks for any place you can point me to. I'm in Ohio.

If you have no prior insurance or risk management experience, then I would suggest you contact one of the big 3 -- State Farm, Allstate or Farmers. They will provide product training, and support while you begin, if you qualify for their programs. Sales experience is a big plus, too.

Problems you would face are pretty obvious -- you have no experience, no book of business and no company contacts to secure market placements. Which is why I would suggest you try to get in with one of the big carriers.

You could also look at one of the larger retail firms, like Gallagher or AON, and see if you can secure an entry-level sales job with them. Good luck.

If I understand your post correctly, you're interested in becoming a risk manager? Are you thinking of this as a consultant that would be advising large companies on types and amounts of insurance to purchase without doing any sales yourself? There are those who specialize in risk management and those who do safety & engineering consulting - however, these individuals usually have strong carrier underwriting or loss prevention backgrounds. They also have a lot of credentials behind them.
I would seriously advise you to do more research into what you want to do. This business is tough enough for those of us who have made it a career and put in our time learing from the bottom up - I can't imagine how it would be for someone who was looking to make it as a sideline.

Based on what little information you provided and the fact that you cannot write coherently I would suggest you find another area of business because you will not make it. You have no insurance experience, no experitise, no credentials in insurance, risk management, underwriting etc.
Sorry to be blunt but I am always astounded that individuals think people will just hand over easy money to anyone who says they are in the insurance business. This is not a sideline it is a committed career profession.

Hear Hear! Racecarlover. We've come a long way to stop the "dumbing down" of our industry! There is too much at stake for those of us that love our careers and business!

Mountain 56 might do better getting into politics!

Swymmer