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Hong Kong insurance is popular,How to apply for transfer of Hong Kong insurance brokerage license?

Financial card care question

past 7 years,We work hard to cooperate with mainland third-party companies, large and small,certainly,There are many companies that have done really well in the past,So I came up with the idea of ​​opening an insurance brokerage company in Hong Kong.。Count the partners we have worked with in the past,At least more than 10 insurance brokerage companies have successively opened in Hong Kong。

It is not expensive to open an insurance brokerage company in Hong Kong,Can be divided into the following two ways:1Apply for a license from scratch,It will take about half a year to consider a suitable licensee.、Recommendation letters from several insurance companies、A simple office building and two administrative staff。Based on this cost calculation,Apply to an insurance brokerage company

cost

Less than HKD 800,000。

2Buy an existing insurance brokerage company,It can be done in two to three months. The cost depends on the maturity of the company's development.,These include:Number of contracts signed with insurance companies,And the company’s monthly accumulated business volume。The market price is about 1.5 million to 5 million Hong Kong dollars.。The cost of both is not expensive,I believe many of our partners are capable of doing it!

My question comes please ask in the past,Among the partners to start an insurance brokerage company in Hong Kong,Which ones do you have no regrets about? No need to tell me the answer,Anyway, I can’t think of just one! I've been sorting out some past information recently,One after another we saw some familiar but unfamiliar names - the friends who left us,He returned to the team again this year。

chat with them,They are eager to try in 2017,Most Underestimate a Company's Operations,Regretful,Turns out it’s easier to work with us! I feel this deeply,In fact, it is not easy to be an insurance brokerage company.。

Our journey of growth in the past has really been a stumbling one.,There are several reasons why insurance brokerage companies survive.,including commission、Systems and Services,Commission is a critical survival condition,But the robustness of systems and services is a measure of survival! Commission for a new insurance brokerage company,We must first overcome the problem of commission from insurance companies,Not an insurance company's commission,But multiple ones! This is extremely difficult。If the scale is not large enough, it will not be complete,This is difficult to overcome。

in Hong Kong,There are not many peers who can achieve high and comprehensive commissions from all insurance companies.,We are one of the few exceptions! System, then system,Is the system outsourced?,Or develop it yourself? This is really complicated,According to the company's own business development and deployment,The system needs to be personalized,But this involves cost and time,If the market has not yet matured,How much does it cost to configure the system? How many people know how to use the system?

turn out to be,in Hong Kong,Many insurance brokers underestimate this expense,Of course I don't pay much attention to it either,Not even a system,Such a long time,resulting in incomplete information,It also led to the paralysis of long-term services.,This is the fatal flaw I see in most of my colleagues。service then to service,I think the biggest headache is the expectation management of services,After all, this involves the fundamental interests of customers。

The cost of services can be unlimited,But the financial services industry we are in can only make small profits.,Therefore, service costs cannot be magnified infinitely.,We try our best to create the best arrangement within limited resources。It is difficult for an insurance brokerage company to achieve a profit-cost balance point in a single-channel market.,We also work hard to balance this,Even if we rank first in the market,But we are still figuring out this balance point.。

After reading this article, some friends want to know more details about applying for a Hong Kong insurance broker license.,You can contact the editor by adding,Thank you all!


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Xu Wanting

Xu Wanting has been engaged in insurance and financial services compliance work in Hong Kong for many years,Responsible for the preparation of IA insurance brokerage regulatory compliance documents、Internal control process construction、AML system design、Regulatory filings and interactions with regulators。She is familiar with insurance product liability、sales compliance、Institutional requirements such as customer protection regulations and establishment of internal training and compliance systems。

Areas of expertise:IA Insurance Brokerage Regulatory Compliance Documentation、Internal control process construction、AML system design、Customer protection regulations、Internal training。

Previous institutions:Hong Kong insurance brokerage company & IA Compliance Team

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