Last week, we laid out the fundamentals of starting your own, independent insurance agency. As you likely know, the prospect of starting your own agency can feel intimidating. The list of things to do can seem overwhelming. That said, though it may be hard work, the fundamentals can be broken down in five, simple steps; register your agency name, find carrier representation, vet technologies, establish policies and procedures, and start selling.
This week, we are focusing on the foundation of your agency and the way people will know who you are: YOUR NAME. When figuring out your name, it’s important to consider what you want your name to message to potential clients. Is there a certain value you want people to think when they look at your agency name? If so, consider that when picking out what to call your agency. Beyond that, consider names that are easy to remember and have no negative associations if you are to Google it. But, at its core, it is important to pick a name that speaks to you and your business!
VIAA has a dedicated marketing expert, Lauren Davis. With many years of experience marketing businesses and helping them succeed, she is a wonderful resource when you join the VIAA family. Her expertise can be leveraged in helping to pick the perfect name for your agency.
Once your name is picked out, you will need to register it with your state. Every state is a little different, but you will always need to contact the Secretary of State or the State Department of Revenue, as well as the State Department of Insurance. If you have further questions – your best bet during this fundamental step is reaching out to your state’s Department of Insurance. Overall, this step is simple, so long as you are willing to do some paperwork.
I bet you’re wondering – when does the fun start? Well, you’ll have to visit us next week to learn about getting carrier representation and how VIAA can help!
If you’re itching to start exploring the world of independent agencies, reach out to Clinton Mudd – our resident expert. He can be reached at 314-333-4932 or 618-960-5839. Additionally, you can shoot him an email at firstname.lastname@example.org.
Valley Insurance Agency Alliance (VIAA), a cohesive family of more than 130 independent insurance agencies in Missouri and Illinois. Founded in 2006, VIAA generates more than $250 million in written premium and is the regional founding member for the Strategic Insurance Agency Alliance (SIAA), a more than $9 billion national alliance. Valley Insurance Agency Alliance is located at 6825 Clayton Ave. in St. Louis, MO. For more information about the alliance, call (314) 333-4910 or visit http://www.viaa4u.com.