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Thread: Cyber insurance

  1. #1
    New User Level 0
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    Post Cyber insurance

    Hi,
    I am a student studying at university.
    For my work I need to create a pricing anyalsis of starting a new cyber insurance business.
    I was wondering if anyone could possibly help me with any figures or pricing's on how much insurance costs? How likely it is were going to break even? How much we have to sell to break even?
    Any figures or information would be an amazing help!

    Thank you so much in advance.



  2. #2
    Senior Member Level 1 DavidBlock's Avatar
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    Wow, I would love to see your results once you get this up and running! What type of insurance are you interested in selling? Will it be life insurance, disability insurance, long-term care insurance, health insurance, or property & casualty insurance. Each line of coverage has a different cost and compensation model depending on your production and policy. Please give us more information as to what you will be selling.
    David M. Block, CLTC
    President
    Insurance Specialties, Inc.
    PO Box 1809
    Candler, NC 28715-1809
    800.358.8844 toll free
    828-667-1119 local
    828-667-2229 local fax
    www.insurance-specialties.com

  3. #3
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    Default cyber insurance.

    Quote Originally Posted by DavidBlock View Post
    Wow, I would love to see your results once you get this up and running! What type of insurance are you interested in selling? Will it be life insurance, disability insurance, long-term care insurance, health insurance, or property & casualty insurance. Each line of coverage has a different cost and compensation model depending on your production and policy. Please give us more information as to what you will be selling.

    Hi, we are looking at selling cyber crime insurance.
    can you give us any more information about this please?

    thank you in advance.

  4. #4
    Senior Member Level 1 DavidBlock's Avatar
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    Sorry ... not my area of expertise. You should be able to ask one of your larger property and casualty houses that question if you are in a college town. You want to look for an agency that has an owner or principal that you can speak with in order to "pick their brains". I am sorry I cannot be of any further assistance.
    David M. Block, CLTC
    President
    Insurance Specialties, Inc.
    PO Box 1809
    Candler, NC 28715-1809
    800.358.8844 toll free
    828-667-1119 local
    828-667-2229 local fax
    www.insurance-specialties.com

  5. #5
    New User Level 0
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    You know web businesses are kinda different than your typical brick and mortar store, as you are probably aware of. The main thing you will have as overhead after your store is up, is advertising. Now Your products itself should not have an actual purchasing cost which means you won't have to pay 25 cents to sell a 50 cent trinket. so your costs will be in acquisition, IE licensing, website, and personnel. Next you need to get the approval to sell which in most cases won't cost you anything. Now, advertising! Web based companies that don't have a history need to have traffic to them to get traction. The biggest problem with websites is how to get traffic to them to sell the product. The products are very rarely the issue, it's the traffic and the funnel you create to drive people through a flow that generates sales. I hope that helps, please let me know if you have any other questions.

  6. #6
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    xrac's Avatar
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    Sorry, beyond my pay grade!
    X

  7. #7
    Senior Member Level 1 marindependent's Avatar
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    Quote Originally Posted by xrac View Post
    Sorry, beyond my pay grade!
    I dont understand what you are looking for?
    Scott W Johnson
    Whole Vs Term Life Insurance
    415-294-5454 CA LIC 0K10734

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