Insurance Agency Business Plan | Insurance Agency Business Plan Template | 5 Year Business Plan Insurance Agency | Insurance Agency Model In Business Plan

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Insurance Agency Financial Model/Business Plan Excel Template

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Financial Dashboard in Excel To Track Your Business Performance


INSURANCE AGENCY PRO FORMA INFO

 

Highlights

 

Five-year horizon Financial Model for the Insurance Agency business for early-stage startups to impress investors and raise capital. Insurance Agency Cash Flow Format In Excel used to evaluate startup ideas, plan startup pre-launch expenses, and get funded by banks, angels, grants, and VC funds. Unlocked - edit all.

 

 

A Insurance Agency Excel Financial Projection Model Excel provides all relevant data on a business’s performance or project. This Finance Projection provides more than just a summary of relevant data – insight, and valuation analysis is also included. It can be a great tool for quickly reviewing key performance metrics and all financial statements to take needed actions.

Description

 

Our Insurance Agency Pro Forma is designed by our team to help you make informed principal business and financial decisions bases on accurate reporting. This Insurance Agency Proforma contains all relevant tables and inputs.

 

We believe your business may need an accurate financial projection for a successful run. Therefore, our team presents you with the Insurance Agency Three Statement Financial Model to analyze your financial viability.

 

The objective of the Insurance Agency Budget Template Excel is to take every opportunity possible to help your business grow and try to work around keeping threats such as liquidity away from the business and to improve financial wealth for the owner and to build a good reputation within the community. Hence, people feel invited and welcomed when they visit your business.

 

INSURANCE AGENCY BUSINESS PLAN TEMPLATE

Why would you need a financial model for the business plan for the insurance company? What can a financial model add to your business? How can you save time with a financial model?

Enough with the questions! Let’s straight get into this.

Financial models enable insurance agency business plans with convenient business analysis tools, i.e., excel, to comprehend key features of the business plan for insurance agencies and how it will generate shareholders’ returns.

 

Three primary reasons to build a financial model includes: 

 

  • Selling business stakes – This part involves either selling the business as a whole, raising capital, or entering into a phased exit strategy. In all cases, investors identify business objectives and their feasibility. An attractive and robust financial model can summarize or increase granularity by a few clicks away.

 

  • Buy a business – Getting into an independent insurance agency business plan requires an entirely different set of parameters. Our financial model individuals attain a substantial understanding of the business model, its revenue streams, potential costs, and other items from financial positions.

 

  • Develop a business – Developing an insurance company business plan requires a considerable understanding of financial jargon, and any miss in a parameter can bring the whole house down. Our specialized financial model is highly robust and moderated with additional parameters and estimates.

 

  • Insurance Pricing Model – Insurance products need actuarial forecasts to determine the net premium of the insurance and load (extra for covering operational expenses), which totals to the premium charged from customers.

 

Prudent financial management is vital for insurance businesses. The insurance industry has been dealing with an array of megatrends, from the competitive landscape, frequently changing customer expectations and experience, and regulatory requirements. 

 

  • Setting up Goals – To startup an insurance agency business plan, several goals are required in its forecasts, such as quarterly revenue generation and seasonal goals (for instance, open enrolment period). Insurance companies also incorporate operational plans which address the types of services rendered, associated cost of services, company’s efficiency score, etc.  

 

  • Avoid Potential Roadblocks – Business plan for an insurance agency hold substantial roadblocks, mostly regulatory requirements. These requirements vary from jurisdiction to jurisdiction. The entitled financial model can be efficiently moderated to align with the respective regulatory requirements. 

 

  • Identify Financial Needs and Resources – To nurture an insurance business, specific financial needs and resources are considered. The flow of funds from debt and equity to operational and investment requirements is justified.

 

 

Let’s get into the insurance company business model!

The insurance financial model targets an easy-to-use and in-depth financial analysis, touching upon your required parameters.

 

 

Intuitive Dashboarding with Financial Visualization and Parameters to toggle around

 

The underlying economics of the insurance business is very dynamic. Hence, assumptions are frequently changed to mimic forecasts and current market expectations. The dashboard tab delivers a comprehensive one-pager with visualization charts and essential line items with beliefs. In addition, the dashboard is linked to several other tabs to cater to simplicity in financial analysis.

 

  • Core Inputs
 
  • Core Inputs– Derives marketing budget as per the number of visits and conversion rates to identify the engagement of new customers. 
 Insurance Agency Financial Model Dashboard Core Inputs
  • The Marketing Budget & Visitors table will allow users to bifurcate between online and offline market budgets and aggregate them to determine the total number of visitors.
 
  • The conversion table will determine the engagement of new customers using the top of the sales funnel; via parameters like – Visitors to Sales Opps, Sales Ops to Engage Opps, and Engaged Opps to New Customers.
 
  • Debt Assumptions– Most insurance companies utilize sufficient financial leverage. Using debt assumptions can allow the user to determine their levered position across years. The assumptions are calculated from inputs like principal amount, launch date, term or maturity, and interest rate with an option to choose between Annuity and Usual loan.

 

Insurance Agency Financial Model Inputs Debt Assumptions

 
  • Currency, Denominator & Tax– The insurance agency business plan template is robust enough to incorporate your tax and currency considerations per respective jurisdiction.

Insurance Agency Business Plan Feasibility Study Financial Plan Excel Template Dashboard Currency

 
  • Output – Get a hassle-free format of graphs to visualize your key financial matrices.

 

  • Core Financials– Enables a complete 5 Year projection of income statement with summarized and key line-items.

    Insurance Agency Business Plan Dashboard Core Financial

 

  • Revenue Breakdown– Visualize your revenues across multiple segments, for instance, trucking insurance, contractors insurance, business insurance, general liability, and commercial auto or life insurance agency business model.

    Insurance Agency Business Plan Dashboard Revenue Breakdown

 

  • Cash Flow– Cash flow graphs deliver an insight into cash flow venues – operating, investing, and financing.

    Insurance Agency Business Plan Dashboard Cash Flow

 

  • Profitability– What good is a business for if it doesn’t deliver shareholders’ returns? Visualize and interpret your profitability and, in turn, operational efficiency in a single view.

    Insurance Agency Business Plan Dashboard Profitability

 

 

We have touched upon all fundamental assumptions for your insurance business.

 

Revenue – The revenue sheet can bifurcate your business into respective segments, as already mentioned. The number of customers drives the calculation of top-line, new customers allocation to each part, lifetime (in months) to gauge active customers, and monthly fee derived from each active customer. The revenue stream spans five years with flexible periodicity – Years and Months.

Insurance Agency Financial Model Revenue Inputs

 

Seasonality – The insurance industry exhibits seasonality, depending upon the type of insurance instrument. For example, the seasonality parameter of agriculture insurance relies on harvest time, weather conditions, etc. The business model of an insurance company includes this parameter based on related marketing expenses every month.

Insurance Agency Business Plan Seasonality

 

Variable Expenses and COGS – Our model enable users to differentiate between COGS and other variable expenses involved in business operations. Both tabs hold the exact input requirements and output delivery. The model is robust for users to provide input for their COGS or variable cost line items and estimate using % of total revenue.

Insurance Agency Business Plan Inputs Variable Expenses

 

Fixed Expenses – The user has the liberty to incorporate their line items in the fixed costs section with an additional feature of setting up launch date and end date, with spending amount and periodicity. Fixed costs may include rent & utilities, team member compensation, business licenses & dues, etc.

Insurance Agency Business Plan Inputs Fixed Expenses

 

Direct Salaries & Wages – Engaging employees is key for success in the insurance business. The link between customer satisfaction and team member engagement has been demonstrated in the competitive insurance industry with low switching costs. The financial model holds a separate tab for modelling team member engagement costs. The following parameters are covered to precisely measure the team member costs. 

 Insurance Agency Financial Model Inputs Direct Wages

  • Categorize your employees – The insurance agency business model facilitates users to categorize their employees as per business requirements and respective team member compensation.

 

  • The average number of direct employees – Identify an average number of employees and forecast them across five years in line with business growth projections.

 

  • Annual Salary Raise and Taxes – Studies have shown that salary raise reduce switching costs of the business to a considerable level. The model is granular enough to incorporate potential salary raises and respective taxes.

 

 

Cap Table – The capitalization table justifies each shareholders’ stake in the insurance business. The user is only required to provide assumptions on share price, shareholders, closure date for investment rounds, and the number of shares entitled to each shareholder. The model also accounts for better precision for Series A to Series C funding rounds. 

Insurance Agency Business Plan Inputs Captable

 

Capex – Considering a service-oriented business, capital expenditure projections are typically neglected by many financial models. However, we have provided a provision to characterize capital expenditure with inputs for purchase date, payment delay (to account for periodic cash flow), and amount spent.

Insurance Agency Business Plan Inputs Capex

 

Assets – Common assets for an insurance business are office space, fixtures & furniture, IT products, etc. The model provides the user with the following parameters to toggle with, which are utilized to calculate the net book value of each asset and depreciation cost for input in the balance sheet and income statement.

Insurance Agency Business Plan Inputs Assets

The key parameters are:

 

  • Asset Category
  • Asset’s launch date
  • Useful time (in Years)
  • Opening Balance
  • Closing Net Book Value (NBV)

 

Capital – The capital tab extracts inputs from the capitalization table. Not limited to equity, the capital tab incorporates debt measurement for the business, which involves minimal inputs. The model pulls debt assumptions from the dashboard and calculates debt repayment and interest expenses depending upon the option of annuity or usual (selection in the dashboard).

 

The Summary Tab – The bird's eye view

 

It typically gets exhausting to scroll across multiple sheets to study insurance agency financial statements. The summary tab delivers a single pager tab to scroll across all the three financial statements, supported by data visualization charts. The tab provides annualized and monthly projections of all three statements for additional granularity. The tab is composed of –

 

  • Insurance P&L Statement with supportive charts

Insurance Agency Business Plan Summary Income Statement

 

 

  • Statement of Financial Position with supportive charts

Insurance Agency Business Plan Summary Balance Sheet

 

  • Cash Flow Statement with supportive charts

 Insurance Agency Business Plan Summary Cash Flow

 

Top Revenue and Top Expenses Tab – Understand the top-line and bottom-line growth contribution?

 

Considering high revenue segmentation, it is vital to identify revenue flow from each segment and dominate the parts across all. Therefore, the top revenue and top expense sheets are automated and provide respective graphical representations.

 

  • Top Revenue tab – Majorly composed data visualization tools for analyzing revenue flow and bifurcation across segments. The data visualization is supported by 100% stacked column charts and a monthly run-rate pie chart for the provided year. Users can extrapolate the revenue depth of each segment for a provided year and analyze line graphs for identifying annual growth.

Insurance Agency Business Plan Top Revenue Summary 

 

  • Top Expenses tab – Top expenses fall in the same lines as the Top Revenue tab as far as data visualization is concerned. The model extracts the top five expense categories from provided input costs for insurance business cost analysis. The tab is helpful to set cost controls and gauge budget parameters.

 Insurance Agency Business Plan Top Expenses Summary

 

 

Break-Even Tab – Understand your cost structure and margin of safety

Insurance Agency Business Plan Break Even Analysis

 

The model provides break-even analysis across projected years to determine safety margin and capacity points. In addition, this analysis offers a target for the minimum number of sales, minimum cost per team member, etc.

 

 

A complete set of financial and operational visualization

 

Data interpretation is advantageous to gauge business’ feasibility. In addition, users can determine patterns quickly since they can interpret data in pictorial or graphical forms.

 

  • Financial Chart Tab – The tab delivers a bird’s eye view of 24 months and five years key financial line items – EBIT, Revenue Breakdown across business segments, operating cash flow, cash balance, and EBITDA.

Insurance Agency Business Plan Financial Kpis PageInsurance Agency Business Plan Financial Kpis Page2Insurance Agency Business Plan Financial Kpis Page 

 

  • Operational Charts Tab – This provides a more intuitive understanding of key driving parameters of the insurance business. The data is spread across 24 months and 5-year periods. Key parameters include new and active customer breakdown (widely used industry parameters).

Insurance Agency Business Plan Operational Charts 

 

  • KPI – This tab includes financial and operational KPIs and compares them across industry average/median. Financial KPIs include gross margin and net profit while operating KPIs have average monthly revenue per active customer, direct wages as a portion of income (given it is a considerable expense in the insurance business), and engaged customers per 1 direct FTE.

 Insurance Agency Business Plan Industry Benchmark Kpis

 

Sources and Uses

 

A source and funds statement provides a mechanism for reconciling the flow from financing activities to operating and investing activities. The tab holds the following parameters –

 

  • Funding Structure – User can identify company’s leverage (gearing).

 Insurance Agency Financial Model Business Plan Funding

  • Sources and Use of Funds – This is automated based on inputs provided in the debt assumption and cap table. The template identifies the funds sources and how it flows to operating activities, like COGS, variable expenses, investing activities like CAPEX, and financing activities like debt repayment.

Insurance Agency Financial Model Business Plan Sources And Uses 

 

Compilation of Financial Statements and Valuation

 

All financial models target to summarize their financial assumptions in financial statements. These statements are automated better to understand profitability, cash conversion, and financial position.

 

  • Income Statement Tab – The user gets a complete insight into income and expenses, which can also be used for reconciliation and accounting purposes

 Insurance Agency Business Plan Summary Income Statement

 

  • Cash Flow Statement Tab – Considers inputs on delayed payments and advance payments to track cash flows across all three sections of the cash flow statement.

Insurance Agency Business Plan Summary Cash Flow 

 

  • Balance Sheet Tab – A complete and granular format for understanding the statement of financial position.

 Insurance Agency Business Plan Summary Balance Sheet

 

Valuation Tab – The name speaks for itself

 

Insurance Agency Business Plan Valuation

 

Typically for financial models, all it comes down to is valuation. The business’ valuation will identify the intrinsic value and determine the investment viability of the business. As per typical industry standards, the model supports valuation via free cash flow to the firm (FCFF) or unleveled free cash flow:

 

  • WACC Calculation – The user opts for Required Return on Equity, around which the model automates WACC calculation. Moreover, the terminal value is calculated on Multiple Methods, which can be either EBITDA or Revenue (at the user's discretion).

 

  • FCF Calculation – FCF is calculated automatically as the model extracts provided assumptions from other sheets. Unlevered FCF is calculated.

 

  • FCF Valuation – FCF is brought back to present value using WACC as a discount measure with the terminal value estimation executed by Multiple Methods. This brings together an intrinsic value for the insurance business.

 


INSURANCE AGENCY PROFORMA KEY FEATURES

 

Prove You Can Pay Back the Loan You Requested

When you apply for a business loan, bankers will study your cash flow model excel in an attempt to answer this question: Can this business pay back the loan? Requesting a loan without showing your cash flow forecasting model for paying it back is a common way to land in the rejection pile. It is exceptionally accurate if your current cash flow won't cover all of your monthly operating expenses — plus your loan payment. Don't fall into this kind of situation. Use cash flow chart template to strengthen your case by showing the banker exactly how you plan to use the loan and when you will start repaying the debt. This type of forecasting helps you create a road map that can impress a lender with the confidence they need to approve your loan.

Currency for inputs and denomination

In Pro Forma Budget define any currency code or symbol and preferred denomination (e.g. 000s) to reflect your preferences.

Spot problems with customer payments

Preparing the cash flow projection in excel encourages the business to look at how quickly customers are paying their debts. Identify unpaid invoices and take necessary actions to make them pay.

Better decision making

Make better operational decisions with the help of creating business cash flow forecast scenarios in your Excel Template. Perhaps you have to choose between new staff members or investment in equipment, and you are wondering which decision to chose. Variants forecasting will give you the information you need to make these decisions with confidence that you know what impact they will have on your cash balance.

Simple and Incredibly Practical

Simple-to-use yet very sophisticated Insurance Agency Pro Forma. Whatever size and stage of development your business is, with minimal planning experience and very basic knowledge of Excel you can get complete and reliable results.


INSURANCE AGENCY PRO FORMA TEMPLATE EXCEL ADVANTAGES

 

Plot Your Startup Loans Repayments With Insurance Agency Financial Projection Model Template

Cashflow Projection Makes You More Serious For Outsiders

Pro Forma Enables You To Project Forward How Much Cash You'Ll Have

Insurance Agency Financial Model Excel Spreadsheet Gives You More Clarity

Control Over Your Business With Insurance Agency Excel Pro Forma

Customer Reviews

Based on 2 reviews
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Brett Raza

This is a very well constructed template.

N
Natalie Shimizu

Superb

Customer Reviews

Based on 2 reviews
50%
(1)
50%
(1)
0%
(0)
0%
(0)
0%
(0)
B
Brett Raza

This is a very well constructed template.

N
Natalie Shimizu

Superb

Customer Reviews

Based on 2 reviews
50%
(1)
50%
(1)
0%
(0)
0%
(0)
0%
(0)
B
Brett Raza

This is a very well constructed template.

N
Natalie Shimizu

Superb

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Insurance Agency Business Plan | Insurance Agency Business Plan Template | 5 Year Business Plan Insurance Agency | Insurance Agency Model In Business Plan

$129.00