MEDICAL INSURANCE BUSINESS PLAN IN NIGERIA
This sample medical insurance business plan in Nigeria can be used for government and non – government business grant applications , for bank loan applications, for writing business proposals, to write business concept notes, for business grant competitions, other competitions, and so on. This medical insurance business plan in Nigeria is a very lucrative business idea, and will require a lot of strategic planning to start. You will need the mentorship and guidance of a professional business consultant in Nigeria like Dayo Adetiloye to help you in implementing the business plan.
BUSINESS DESCRIPTION OF THE MEDICAL INSURANCE BUSINESS PLAN IN NIGERIA
Business: MEDICAL INSURANCE
PATILAD Medical Insurance Inc. is a privately incorporated company in Lagos, and is licensed to transact both life and medical insurance. The shares are held equally by John Smith and Dayo Adetiloye.
Our company operates from two central locations. Our modern attractive office in Yaba, Lagos, is located in a small plaza, which is owned by the principals of our brokerage.
In Ikoyi, we operate from a 400 – feet, one – storey building, which again is located by the principals of our firm.
We specialize in medical insurance that can properly service individuals, organizations and institutions, we also have some quality medical markets unavailable to our competitions. The past few years has seen tremendous upheaval in the insurance industry. The number of players have decreased in both the broker and company communities. The recession has curtailed insureds from properly maintaining their medical insurances. And also, insurance fraud has become a major issue in the entire insurance industries.
In spite of the above, we believe that the independent broker will survive. We are more automated than most service industries. We are close to the customer, regardless of some insurance companies’ attempt to sever the traditional broker – client relationship. Our clients trust our judgement in selecting the proper coverage.
The Benefits of our Products and Services;
– Employment opportunities
– Good communication between the brokers and clients to ensure quality coverage
– High standard medical insurance coverage for our clients
– Our clients get the most value for every penny they spend on their medical insurance
– Our offices are opened six days a week
OUR PRODUCTS AND SERVICES
– Highest standard insurance policies that provide protection for our clients
– Training seminars for Clients
– Highly effective policies and endorsements
KEYS TO SUCCESS
The following keys to success will be employed for the medical insurance business plan in Nigeria:
– Knowledgeable friendly staff that can empathize with our customers’ needs, and circumstances
– Policies that meet the expectations of our clients and that are affordable, available and understandable.
– Policies and endorsements delivered on time, and with minimal errors.
– A commitment to an annual insurance review for all our clients. We believe personal contact and service is the cornerstone of our success
OBJECTIVES OF THE MEDICAL INSURANCE BUSINESS PLAN IN NIGERIA
The objectives of the medical insurance business plan in Nigeria are as follows:
– To establish Patilad Insurance Inc. has the market leader in quality and value – priced insurance products in Nigeria.
– To establish good working relationships with our present insurance market by meeting with their decision makers and plotting a mutual plan for success
– Investigating new markets that meet our marketing criteria
– Provide sales incentives to staff, to meet sales goals of 10%.
– Formulate plans to acquire another brokerage
– To reach net profit of $2,000,000 in four years
GOALS OF THE MEDICAL INSURANCE BUSINESS PLAN IN NIGERIA
We have set the following goals to achieve for the medical insurance business plan in Nigeria;
– Get commitments for support and products that we can market in our trading are, starting September 1, in our year one.
-Increase and improve contacts with our clients
– Establish our brand all over the country.
VISION FOR THE MEDICAL INSURANCE BUSINESS PLAN IN NIGERIA
Our vision for the medical insurance business plan in Nigeria is; To set the pace for medical insurance brokerage around the world.
MISSION OF THE MEDICAL INSURANCE BUSINESS PLAN IN NIGERIA
Patilad Insurance Inc. is dedicated to provide medical insurance products that provide quality protection with value pricing. We wish to establish a successful partnership with our clients, staff members, and other insurance companies that respect the interest and goals of each party. Success will be measured by our clients choosing us because of their believe in our ability to meet or exceed their expectations of price, service or expertise.
MANAGEMENT TEAM OF THE MEDICAL INSURANCE BUSINESS PLAN IN NIGERIA
The management team of Patilad Insurance inc. is made up of the following group of people:
John Smith: He owns and runs the company. John has been with a leading insurance company in Canada for over thirty years and hopes to bring his wealth of experience into forming Patilad Insurance inc. He will be financing and taking full risks for the business. He currently heads a professional international insurance body.
Dayo Adetiloye: ( B.AGRIC, MBA, and PMP). He has over fifteen years experience in business management, business start up dynamics, financial management of business, and overall business growth and development. He is an alumnus of the Enterprise Development Centre( EDC), of the Lagos Business School( LBS), Pan African University( PAU). He is our business development strategist and a strategic partner of the company.
We brought to the business;
– Educational skill and practical experience in the medical insurance sector of the insurance industry
– The capacity to consistently deliver quality services
– High value medical insurance coverage and policies, with a good understanding of the market trend
– Our staff brings promotional, technical, operational and marketing skills to the business
MANAGEMENT EXPERIENCE GAINED FOR THE MEDICAL INSURANCE BUSINESS PLAN IN NIGERIA
With over thirty years of experience in the medical insurance sector of industry, and through numerous exposure to the practical and technical aspects of insurance services, I have been able to master the technical requirements, financial management, staff recruitments and organizational skills needed to give us a good commendation and good referrals from our clients. My managerial skill has also helped me in putting together a workforce for over seven years and also to coordinate the teamwork in most aspects of the company. I am the CEO of the company, and together with my managing partner; Mr. Dayo, we will be coordinating the entire day to day activities of the company.
MATERIALS AND EQUIPMENTS REQUIRED FOR THE MEDICAL INSURANCE BUSINESS PLAN IN NIGERIA
The following materials are needed for the medical insurance business plan in Nigeria;
Licence, permits, office buildings, company vehicle, office equipments and so on.
COMPETITOR ANALYSIS FOR THE MEDICAL INSURANCE BUSINESS PLAN IN NIGERIA
We get a lot of patronage due to the following reasons;
– Provision of top value medical insurance policies
– Consistent quality assured standard
– Prompt and effective service delivery.
– Highly competitive pricing system
Our three main competitive advantages are;
1. Consistent quality assured service.
2. Highly effective and prompt service delivery
3. Highly competitive pricing system.
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