8 Insurance Agency Success Stories [2024]

Pat Walls

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Updated: November 1st, 2023

Start An Insurance Agency

Are you hoping to start an agency in the service industry? How about starting your own insurance agency?

In the past decade, the insurance industry contributed more to the US GDP than banks for the first time. Insurance statistics show that the industry has been pretty good lately, and the trend is not slowing anytime soon. Factors driving growth in the insurance sector include sustained economic growth, better interest rates, and greater investment income. Besides, insurance companies adopted investments in technological and operational efficiencies during the pandemic, a move that has helped the industry thrive.

Perhaps you are an insurance agent wanting to quit a 9 to 5 job and start a new chapter of self-employment. Or maybe you are considering a career change and seeing potential in the insurance industry. Whatever the reason for wanting to start an insurance agency, it can be a great idea.

However, building an insurance agency is no small task. Ensure you have enough equity and get ready to work hard and make smart decisions.

Here are some real life success stories of starting a insurance agency:

1. FAB INSURANCE ($3M/year)

Fabien, the founder of FAB FRENCH INSURANCE, came up with the idea for his business after working with insurance agents and online brokers in France during his previous marketing agency. He realized the potential in serving the English-speaking community living in France, and after partnering with websites in this niche, his business took off. In just six years, with an initial investment of $10K, Fabien has achieved a turnover of over $2.5M and continues to grow.

How much they make: $3M/year
How much did it cost to start: $10K
Current team size: 8

I Offer Visa Insurance For English Speakers In France [& Make $3M/Year]

Fabien grew FAB FRENCH INSURANCE from scratch with just $10k, achieving a turnover of over $2.5M after just six years in business, by focusing on the English-speaking community living in France and using affiliate marketing and automating the quotation process online to streamline lead generation and weed out customers who weren't willing to get into the sales funnel.

About

Fabien started FAB INSURANCE almost 9 years ago

Revenue

Fabien grew the business to $250K/month

Costs

It cost Fabien $10000 to start the business

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Read by 2,497 founders

Learn more about starting an insurance agency:

Where to start?

-> How much does it cost to start an insurance agency?
-> Pros and cons of an insurance agency

Need inspiration?

-> Examples of established insurance agency
-> Insurance agency slogans

Other resources

-> Blog post ideas for an insurance agency

Part of

Starting An Insurance Agency: Everything You Need To Know

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2. Limelight Health ($85.9M/year)

How much they make: $85.9M/year
Current team size: 780

How we pivoted our way to a near hundred million dollar exit

Limelight Health, founded in 2014 and acquired by FINEOS in 2020 for nearly $100M, achieved success through building meaningful relationships, product research, executive and advisor hiring, and focusing on culture and authenticity to help life insurers provide excellent service to customers.

About

Jason started Limelight Health about 10 years ago

Revenue

Jason grew the business to $7.16M/month

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Read by 713 founders

5. MetLife

Stay covered with MetLife: life, auto & home, dental, vision and more. Learn more about MetLife employee benefits and financial solutions.

Where they're located: Montgomery, Alabama, USA
Website traffic: 3.22M/month

6. Policygenius

America's #1 independent online insurance marketplace. Save money on life insurance, disability insurance, health insurance, pet insurance and more.

7. Insure.com

Compare rates from updated data & get cheap insurance quotes from multiple insurance companies providing, home, life, health,auto & homeowners insurance.

Website traffic: 790K/month

8. Lemonade

Lemonade offers renters, homeowners, and pet health insurance, powered by tech and driven by social good. Get a policy in 90 seconds, starting at $5/mo

Where they're located: Manhattan Community Board 1, New York, USA
Website traffic: 2.46M/month