Financial services franchises including insurance businesses are ideal for people interested in the franchise industry. There has been a constant rise in insurance companies and their services. Insurance franchises offer opportunities for small business owners with previous sales or finance experience. With the variety of financial franchising opportunities available, you can be sure to find one that fits your lifestyle and not the other way around. There are many insurance franchise business which is profitable and It also allows you, as the franchise owner to be your boss which can mean working from home if you choose and setting your hours.
Benefits of buying life insurance:
- Financial security
- Child’s future planning
- Disciplined investments
- Corpus creation over the long term
- Retirement planning
- Tax savings
Car insurance is a primary focus of all the companies on this list, and as a segment within the insurance industry, collected $287 billion in premiums in 2018 (up from $267 billion in 2017).You will get a lot of advantageous opportunities from the top insurance franchises of 2020, which provide support in franchisee training, help from experts, field assistance, marketing & advertising, proven business model.
- Max Life Insurance
- Aviva India
- Trust India General Insurance Services
- Surakshi Financial Services Private Limited
- Zaidi Corporation
- Akcm Group
- Proline Management Services Private Limited
- Insurance Life 360 Limited
- Insurance
- Cost Advantage Wealth Management
- DHFL General Insurance Company Ltd
Max Life Insurance
Max Life Insurance ranked 24th as India’s Best Companies To Work For 2020. Max Life Insurance, constantly try to create solutions to make life insurance plans easy, affordable, and suitable for every stage of your life. Max Life envisions to be the most admired life insurance company in India by securing the financial future of our customers. They serve customers through Long-Term Savings, Protection and Retirement Solutions, delivered by high-quality Agency and Multi-Channel Distribution Partners. They provide strong social relevance and contribute to society by supporting causes in health and well-being.
| Founded in | 2001 |
| Franchising since | 2001 |
| Franchise units | 100-200 |
| Initial Investment | From Rs 2 Lakhs |
| Royalty Fees | 20% |
Aviva India
Aviva India is an Indian life assurance company, and a joint venture between Aviva plc, a British assurance company, and Dabur Group, an Indian conglomerate. Aviva India is one of India's leading life insurance companies, offering a range of individual and group insurance solutions that meet various life stage needs of customers.
Benefits of Aviva India:
- Strong salesforce
- Wide distribution network
- Among the first companies
- Competitive in protection and child space
- Leading banks
| Founded in | 1950 |
| Franchising since | 1950 |
| Franchise units | 500-1000 |
| Initial Investment | From Rs 0.5 Lakhs |
| Royalty Fees | None |
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Trust India General Insurance Services
Trust India General Insurance Services is a professional insurance adviser dedicated to giving you secure peace of mind. People at Trust India recognize the importance of finding a means to secure the quality of life. They do their job with all the care, warmth, and clarity you seek in a consultant who is responsible for providing the best insurance for you, your family, or your business.
They are a general insurer for the following risks: Auto Insurance, Accident Insurance, Health Insurance. Liability risks are covered by our various forms of liability insurance.
| Founded in | 2007 |
| Franchising since | 2007 |
| Franchise units | Less than 10 |
| Initial Investment | From Rs 0.1 Lakhs |
Surakshi Financial Services Private Limited
Surakshit Financial Services Private Limited is a Non-govt company, incorporated on 31 Mar 1995. It's a private unlisted company and is classified as ‘company limited by shares'. Surakshit Financial Services Private Limited is majorly in the Business Services business for the last 25 years and currently, company operations are active. They are the corporate agent of SBI Life and dealing with General Insurance, Mutual Fund, Fixed Deposit, and online share terminals. To expand the business, they are offering branches/franchises all over India.
| Founded in | 2009 |
| Franchising since | 2010 |
| Franchise units | Less than 10 |
| Initial Investment | From Rs 0.1 Lakhs |
| Royalty Fees | 5% |
Zaidi Corporation
Zaidi Corporation was founded by Mr. Kazim Raza, a visionary & pioneer in the insurance training industry with a mission to impart Insurance Knowledge to maximum people in the Insurance Marketing Field force, helping them to grow in their own business & to scale greater heights. They offer a wide range of courses for all levels of insurance advisors starting from beginners to intermediate and advanced level advisors. Zaidi Corporation brings an opportunity to start your own insurance training company.
| Founded in | 2013 |
| Franchising since | 2013 |
| Franchise units | 10-20 |
| Initial Investment | From Rs 0.1 Lakhs |
| Royalty Fees | 35%-40% |
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Akcm Group
Akcm Group is the premier company engaged in its chosen area of operation i.e. Valuations, Inspections, and all allied services to Entrepreneurs, Corporate, Insurers, Banks, Financial Institutions, Government Entities, Small & Midsize Companies. The Company's vision is to provide quality, professional, and trustworthy services to all its clients. With a core competence in providing technical services, we specialize in the pre-inspection of vehicles during break-in-insurance.
| Founded in | 2007 |
| Franchising since | 2007 |
| Franchise units | 10-20 |
| Initial Investment | From Rs 0.1 Lakhs |
| Royalty Fees | 20% |
Proline Management Services Private Limited
Proline Management Services Private Limited is a Private incorporated on 18 November 2009. It is classified as a non-govt company and is registered at Registrar of Companies, Coimbatore. It is involved in Legal, accounting, book-keeping and auditing activities; tax consultancy; market research and public opinion polling; business and management consultancy.
| Founded in | 2009 |
| Franchising since | 2015 |
| Franchise units | 10-20 |
| Initial Investment | From Rs 10 Lakhs |
| Royalty Fees | 12% |
Insurance Life 360 Limited
International Life 360 is an online portal for consumers to purchase term life insurance in US$, from almost every country in the world. The product is underwritten and issued by an insurance company with headquarters in the USA. International Life 360 Limited enables access to insurance for international clients. International Life 360 Limited has been appointed to distribute GBG products online and is pleased to help you access life cover with no medicals or blood tests (for life insurance up to $US 500,000).
| Founded in | 2013 |
| Franchising since | 2014 |
| Franchise units | Less than 10 |
| Initial Investment | From Rs 2 Lakhs |
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Insurance
Insurance is the trading style name of First Insurance World Broking Services P. Ltd, an independent insurance broking firm authorized and regulated by IRDA since 2004, well-positioned to respond to changes in an increasingly demanding market.
| Founded in | 2003 |
| Franchising since | 2010 |
| Initial Investment | From Rs 0.1 Lakhs |
| Royalty Fees | None |
Cost Advantage Wealth Management
Cost Advantage Wealth Management is to optimize the long-term performance of sa client's financial assets through proper Financial Planning. They adopt a structured and disciplined advisory approach and provide clients portfolio solutions to meet their desired financial goals and milestones.
| Founded in | 2012 |
| Franchising since | 2013 |
| Franchise units | 5 |
| Initial Investment | From Rs 0.5 Lakhs |
| Royalty Fees | 7.5 Lakhs |
DHFL General Insurance Company Ltd
COCO by DHFL General Insurance is changing the way customers look at insurance. COCO is combination of "Connected" and "Cover", signifying an always open and insurance protection swathe. COCO is a Digital platform that is changing general insurance by making process easy, relevant, 24/7 accessible and fun for consumers. They have integrated evolved algorithm, AI and experience.
Frequently Asked Questions
How much does an insurance Industry Franchise?
You can get Insurance franchise with an investment from 0.5 Lakh to 20 Lakh. Max Life Insurance franchise needs investment above ₹2 Lakhs with royalty fees and initial investment. International Life 360 Limited and Proline Management Services Private Limited and requires investment less than ₹10 Lakhs.
Does life/health insurance companies make more money than home/auto insurance companies?
Both Life/health and home/auto insurance make good profit. Comparing them is like comparing apple to an orange. Life/ health insurance company makes it money is when an insured person decides to no longer pay his premiums for any number of reasons. All the premium he has paid over the years is then forfeited. If he dies the next year, his estate gets nothing. Property and causality involves home and car insurance. P and C takes a lot of efforts to keep market share and keep your customers. It is labor intensive. There is a lot of paperwork and convincing is involved. P and C is very profitable but not loyal, in a sense that people shop new rates and you lose your customers.
Author: Souvik Dey
Source : https://startuptalky.com/insurance-franchises/
Date : 2021-04-03T12:14:00.000Z