Business Plan

The business plan of insurance agents - entrepreneurs should, inter alia, contain at least the following elements: 

1) Starting points

• data from the area where business activities are intended to be developed or data from personal experience used as the basis for planning,
• number of employees,
• basic data on the company with which preliminary agency agreement has been concluded, 
• number of concluded insurance contracts, 
• expected insurance premium and agency fee percentage, etc.; 

2) Planned founding costs and manner of covering such costs;  
 
3) Planned total income 

• planned agency fee income,
• planned other income;

4) Planned total expenditures;
 
5) Expected business result

• difference between total income and total expenditures, i.e. difference between items 2 and 3;

6) Planned maintenance of the prescribed level of paid assets subject to Article 91, paragraph 5 of the Insurance Law;

7) Assessment of the economic justifiability of founding and operations relative to the size and structure of the market.  

The business plan will be compiled for a period of at least three years.