Are You Ready to Start Your Own Insurance Agency?
Expand & Dominate | Lesson 2

Know Your Brand

What’s in a brand? When we talk about knowing your brand, it starts with knowing who you are.

It’s also knowing what you want people to think of when they hear your business name.

Choose a sustainable business name you can market and write a mission statement that you and your agents will embody.

Our team can also help you with state-specific word restrictions.

Yes, some states restrict words in your business name, for example, Florida doesn’t allow agents to use the word Medicare in their business name.

So, if your agency in South Carolina has “Medicare” in its name and wants to expand to Florida, well, you’ll be in a bit of a pickle.

What will your company name be? You want this name to be simple, easy to remember, and easy to type into a web browser.

Simultaneously, it should also reflect the services you offer.

For example, Bob’s Best Insurance Plans for You may sound catchy, but think about creating a logo around that name.

Consider a senior trying to type it into a web browser.

Imagine making it fit on marketing materials like a flyer, or a small business card.

Let’s try something else for Bob.

How does Bob’s Insurance Solutions sound? Better, right?

Another example might be Senior Solutions.

Again, it’s simple, short, and is vague enough where you can really create a brand of services.

But on the flip side, is this example too generic?

Could your business get confused with others who have a similar sounding name?

Once you’ve narrowed your list of names, make sure you do the research.

Look up your ideas, vetting for trademarked names or already existing agencies.

Maybe for you, it’s your name, like John Doe Insurance Agency.

That’s a great, professional sounding example.

Take your time to think through a few options.

By following these simple guidelines when brainstorming names, you’ll be sure to find the perfect name for your business.

OK. You’ve got your business name all set?

Congratulations! That’s a big step!

Now, it’s time to move on to the next piece of building your agency and our next lesson.

Mentioned in this Lesson:

Knight School Business Plan Template
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