I have an insurance product idea tailored to the Real Estate industry. I'm just wondering if I would require to obtain insurance licence?

None. There are two basic reasons to get business insurance. First, if you're making enough money that you're worth suing. That does not apply in this case. Second, if your clients require you to have insurance before accepting you as a vendor for certain services. Most large companies will require service vendors to fulfill certain liability requirements. But for a SaaS offering, especially if the pricing model is a low subscription, you won't trigger the conditions that have their purchasing department demanding you get insurance. It applies more to vendors who are either offering personalized services (like consultants) or service providers who bill very large dollar amounts. So get insurance when you first start making pots of money OR when a first large enterprise client makes it a condition of working with you. Don't waste money before that.

I am regularly asked questions similar to this by new business owners or business owners expanding to a new venture. Insurance has many niches that exist in the commercial insurance space, this is one of them. A couple of places to start; 1. If you already have a broker who handles commercial insurance this would be your first conversation. 2. Even if you have that, a second opinion is a good place to start. Do a quick search in an area in a different part of your state. Try and find a similar operation. Call and introduce yourself and see who they use. Since you are not competition they are likeley to gladly make a referral. 3.Typically associations have a ready made policy just for you. Give this a shot; https://www.acraorg.com/ 4. if leasing from a larger operation, I bet they have someone ready and willing to speak with you as well. Best of luck. Happy to chat further.

I have worked in and with insurance companies for more than 10 years in underwriting- and pricingroles and -projects. So I am familiar with how the processes in an insurance company works. For insurance companies in general, they are used to working with external suppliers, so you should be able to screen time with relevant people, if your service creates value for them. However, you should be really sure how your service creates value in the company and for whom, and be very clear on that. Insurance is very numbers-driven, and your success will depend on the business case you provide. How much claims cost can your solution create? Will it reduce head count? Will it help the customer experience? And if you can show, that you understand the needs of the company you are talking to (current market position, size, prodcutivity, etc.), that will increase the likelihood of success. The size of the insurer will also affect your selling process. The larger the insurer, the larger the need to identify the relevant decision maker. Does this company have a central supply chain-team, or are the individual departments doing their own buying? With a larger insurer, there can be a risk that the responsibility is were silo-split, which can make it harder to get a decision from them. So the more you can document the value you create very specifically - both with numbers and what people changes it can lead to, the higher the likelihood of success. If you would like more discussion on this, feel free to set up a call. Good luck with your proposition. Best regards Kenneth Wolstrup

Start by getting a doctor to 'sponsor' you - to recommend it to their patients. Give them a few for free so their patients can try it out - which will get the physician sold on it. Meanwhile, also start reaching out to the right people in the appropriate insurance companies through LinkedIn and via email. You may also want to connect with people who have been in Insurance - like Jeff, Daniel, Craig, or Liran here: https://clarity.fm/search/insurance When you reach out to executives in insurance, keep it personal, and tell them you are looking for their advice. I have a 12 step system to walk you through the sales process once you get a call lined up, but to get you started you could read The Little Red Book of Selling (quick read) or The New Strategic Selling (dense but invaluable). SNAP Selling is good too. Remember, this is all about relationships, so start with personal. InMails recently changed to make it easy for you to keep costs down for outreach. As long as you get a high response rate, your cost of $10 per unanswered InMail will go a long way. If you can't use InMails, try sending samples with testimonials and call them to discuss the day after you expect them to receive it. Use FedEx sign on delivery to increase the chance it gets to them instead of a mail room or secretary.

Likely you best rethink this. You've already used the work "employees", so you've already proved your workers aren't 1099 contractors. The rules a person must meet to be a 1099 contractor. 1) They have no supervision. 2) They have no set hours. For example, I have a 1099 contractor who runs one of my businesses. His direction is "get all the orders out as fast as you can." He has no set hours. He has no set workplace. Sometimes he works from his home, while he travels, sometimes in the business office. This is a true contractor. If you meet these criteria you're good. If not, you best search for what happened to Microsoft when they paid a bunch of employees on 1099 for years. When you read this suit, you'll be inspired to avoid their mistake.