The Insurance Program Development Process: A DIY Guide

Building an insurance program in-house from scratch is a long, expensive process that can take several years to complete. In this blog, we’ll walk you step-by-step through the entire journey from licensing to launch.

Step 1: Get Licensed As An Insurance Agency

Before you can take any action toward creating a new insurance program, you need to ensure you have all the necessary licenses. There are two kinds of insurance licenses that you’ll need to acquire as a preparatory step: an individual license, and an entity license.

Why It’s Important

Each state requires a separate license to sell, solicit, or negotiate insurance within that specific state.  If you or your company attempted to sell or market insurance in a state for which you didn’t have the right licenses, that state would consider you to be illegally selling insurance. This could lead to significant fines and other legal consequences from the state’s insurance regulatory agency.

What You Need to Do

If your business currently sells insurance, you likely already have this step covered. If insurance is a new vertical for your company, however, then you’ll need to go through this process.