INSURANCE BUSINESS PLAN IN NIGERIA
Insurance Business Plan in Nigeria
This sample insurance Business Plan in Nigeria can be used for Grant Applications, Bank Loans, Proposal writing, Business Concept Note, Competitions etc. Insurance Firm Business Plan is a lucrative business that needs a lot of strategic Planning to start and a business coach like Dayo Adetiloye to help you start the Implementation.
Business Description Insurance Business Plan in Nigeria
Business: INSURANCE INDUSTRY
Industry: FINANCAL SERVICES (Insurance Business plan in Nigeria)
PATILAD insurance company is a registered and licensed insurance company that will be based in Shomolu, Lagos State. We offer insurance policies to the public, either by selling directly to an individual or through another source such as an employee benefit plan. An entity which provides insurance is known as insurer, insurance company, or insurance carrier. A person or an entity who buys the insurance is the insured. Insurance is a means of protection from financial loss; it is a form of risk management primarily used to hedge against the risk of a contingent uncertain loss. We specialize in general business, life insurance, health insurance, auto insurance, building insurance and fire insurance. When you buy insurance with us you get a policy, the policy is a legal contract its spell out exactly what the insured are buying and it lists what is covered and what is not and also it let you known how much you must pay (premium).we are committed to providing professional service to all our client, we have been able to establish excellent and good reputation in our company in the event of claim our customers know that we are capable to provide help to ensure a fast and speedy claim settlement. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our clients. Our vision is to provide our clients with skilled insurance advice in a timely and efficient manner. We strive to handle each matter with accountability and responsiveness, as if we were representing ourselves. We focus our attention on the legal aspects of our client’s business so that our clients can focus their attention on the success of their business. Our vision reflects our values: integrity, service, excellence and teamwork.
In PATILAD insurance company we have a very cordial relationship and good communication with our client, and that has made our client better informed about our insurance policies and they get the most value for their money. . Our client’s best interests come first, and everything we do is guided by our values and professional ethics. We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our clients. PATILAD insurance will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible. We will ensure that we work hard to meet and surpass our clients’ expectations whenever they hire our services.
We might be a new entrant into the insurance in Nigeria, but the management staffs and board members are considered gurus. They are people who are core professionals and licensed legal practitioners in Nigeria. These are part of what will count as a competitive advantage for us.
Our products and services
PATILAD insurance company offers varieties of services within the scope of insurance industry in Nigeria. Our intention of starting our insurance company is to work with both smaller organization, individuals, and well established organization that will need our services. We are committed to providing professional sales and services for our insurance customer. Our insurance policies are listed below.
- Life assurance
- Property insurance
- Health insurance
- Auto insurance
- Personal accident
Keys to success
- Building trust with our clients
- Identify your target market
- Establish a good working relationship with our clients
- Begin our insurance partner program
- Develop a profitable property program
Objective for Insurance Business Plan in Nigeria
- To create an insurance company whose goal is to exceed customers’ expectations
- To provide sales incentives to staff to meet sales goals of 10%
- To provide a quality and value priced insurance products.
- Formulate plans to acquire another brokerage.
- Knowledgeable, friendly staff that can empathize with our customers need and circumstances, especially in handling a loss
Goal for the insurance Business Plan in Nigeria.
To become one of the leading insurance company in Lagos and also to be among the top 10 insurance company in Nigeria with the first 5 year of operation.
Vision for the Insurance Business plan in Nigeria
To provide professional, reliable and trusted insurance services that will assist our client
Mission for the Insurance Business Plan in Nigeria
We are dedicated to providing insurance products that will provide quality protection with value pricing and also to establish successful partnership with our clients. We shall endeavour to provide our services in a comprehensive and cost-competitive manner, while providing our customer care advantage. Success will be measured by our clients choosing us because of their belief in our ability to meet or exceed their expectation of price and expertise.
Management Team of the Insurance Business Plan in Nigeria
KANU JOY –She has well over 10 years of experience working at various capacities within the financial consulting services industry in Nigeria. She graduated from Ekiti State University with a Degree in Law and she is a chartered accountant. She also has ample experience in the area of tax consulting and financial auditing.
Mr Dayo Adetiloye – (B. Agric., MBA, and PMP): He has over 15 years’ experience in business management, business start-up dynamics, financial management of business and overall business growth and development. He is an alumnus of Enterprise Development Centre (EDC) of the Lagos Business School (LBS), Pan African University (PAU). He is our business development strategist and a strategic partner.
We brought to the business:
- Educational skill and practical experience in insurance
- Capacity to consistently provide outstanding service.
- Quality processed product and good understanding of the market trend.
- Our staff brings operational, marketing and promotional skills to the business.
Management experience gained for the Insurance Business Plan in Nigeria
With over 20 years’ experience in Insurance industry and numerous exposure to both the scientific and practical aspect of insurance services, I’ve being able to master the technical requirements, financial management, staff recruitment and organization skills among other things necessary to give the industry good commendation from our clients.
My managerial skill has also helped in putting together a workforce for over 5 years, which will also help me to coordinate the team work in most aspect of the company.
I am the CEO of the company overseeing the day to day activities of the business.
Materials and Machine for Insurance Business Plan in Nigeria
Office Space, copiers, fax, file, cabinets, craigslist, tax software, business cards, letterhead, Furniture, envelopes, telephones, etc.
Competitor Analysis for INSURANCE Business Plan in Nigeria
People buy from us because of the following reasons:
- Consistent quality service.
- Outstanding customer care service.
- Core Professional and highly qualified staffs.
- Fair and best possible prices and discount offers.
Our three major competitive advantages are:
- Consistent quality service.
- Core professional and highly qualified staffs.
- Fair and best possible prices and discount offers
For the remaining part of this business Plan, including the detailed financial analysis, call me on 08105636015 or 08076359735 or send me an email at firstname.lastname@example.org.
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