How Do You Operate An Insurance Company?
There are several key steps you must take to successfully operate an insurance company. Aside from proper licensing, you must make sure your operation is efficient and is run according to local, state and federal guidelines. This includes hiring the proper staff, keeping correct and updated records and effectively managing your sales force and other employees. Hire a compliance officer. At least one person in your company should be responsible for keeping accurate records, including updated client files and clear and readily available audit information. All records must be kept according to the law and regulations of the insurance industry. A person with accounting and insurance experience is a good candidate. It’s also helpful if this person is licensed to sell insurance. Hire a claims representative. Hire at least one person to process claims and to do general customer service. If you are a brokerage, clients will likely contact your office first when making a claim. They may not, ho
