How to Start an Independent Agency

Build Your Future in the Independent Insurance Industry

Starting your own insurance agency is an exciting opportunity to build something of your own—while serving your community and growing a successful business.

Big I Arkansas is here to support you every step of the way with resources, guidance, and connections to help you get started.

What you Need to Know.

Launching an agency from scratch takes planning. From building a business plan to securing financing and continuing your education.

The Small Business Administration is a great place to start. It offers tools to help you decide if entrepreneurship is right for you, outline your next steps, and access key data and resources

To begin with, you’ll need startup capital to cover essentials like office space, equipment, furniture, E&O insurance, and marketing—and don’t forget to budget for your own paycheck.

The Big “I” can help through its affiliated bank, InsurBanc, which specializes in business financing and cash management for independent agencies.

To sell insurance, you must be licensed, which involves taking a series of exams. Most states require a separate license for each type of insurance you plan to offer. However, requirements vary by state.


Your local Big “I” state association can help you navigate these important steps. For detailed information on insurance regulations and consumer protections, visit the National Association of Insurance Commissioners (NAIC).

Once you’re licensed, you’ll need appointments with insurance companies so that you have products to sell. To get appointed, you’ll often need a marketing plan, sales experience and a strong business plan.


Starting an agency from scratch is a challenge, but you don’t have to do it alone. The Big “I” can help through our Big “I” Alliance initiative, which offers Big “I” members access to markets.

To provide your customers with the right information, you need a deep understanding of various policies, forms, and coverages—and the ability to manage their risks effectively. Ongoing learning and training are essential for every agency to stay sharp and informed.
The Big “I” Virtual University has the answers. Exclusive to Big “I” members, it offers a comprehensive, searchable online resource library and a variety of webinars to help you build your expertise

Get E&O Coverage

Errors & omissions insurance is essential for every insurance agent. It protects you from the financial risks associated with mistakes, oversights, or negligence that could occur while providing professional services. Even the most experienced agents can face claims related to missed coverage, incorrect advice, or paperwork errors.


The Big “I” offers one of the best E&O insurance programs in the country and supports agents with an extensive library of resources aimed at preventing errors before they happen.

Essential Resources to Get Started

Big “I” provides access to tools and insights designed specifically for independent agents starting their journey.

The Right Start Series

A toolkit designed to help new agency owners grow their business and gain carrier appointments. This on-demand series walks you through the early stages of building your agency.

InsurBanc

Financing your agency is a key step. InsurBanc specializes in working with independent agents and understands the unique needs of agency owners.