How to Launch a Health Insurance Company During Pandemic

The market size of the international health insurance sector was valued to be $1.98 Trillion, and it is expected to reach the mark of $4.15 Trillion by 2028.

And not to mention a Whopping 9.7% CAGR Between 2021 and 2028.

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The unprecedented universal outbreak of the coronavirus pandemic has sped up the demand for both COVID-19 specific and comprehensive health plans among individuals of all age groups and segments of society.

COVID-19 has been a lesson for those who believed health policies serve no purpose, and only the upper-class could afford it.

Now is the Right Time to Start Your Health Insurance Company

With increased awareness of health insurance in society, especially in rural and suburban areas worldwide, It’s now or never to establish a health insurance company.

Building a health insurance agency is no easy feat. You have to translate your idea into reality with sweat, equity, and dedicated focus.

Here Are the Fundamental Steps to Get Started:-

Step 1: Draft A Well-Defined Business Plan

The roadmap to success is a robust health insurance business plan.

This document reveals your genuine commitment to stakeholders, including investors, employees, and insurance carriers.

It further facilitates mapping the goals, staying clear of any potential roadblocks, spotting all the risks, and having an idea about the financial needs & resources.

Step 2: Decide on the Legal Structure

The legal structure you select affects how much personal liability you take.

The most prevalent legal structures for health insurance companies include Sole Proprietorship, Corporation, S Corporation, Limited Liability Company, and Partnership.

One key thing to note here is that each legal entity has its own set of risks and benefits.

For instance, Sole Proprietorship is a straightforward form of business, but it comes with enormous business liability. Thus, it means you will have to use your assets to pay off the debts in the worst-case scenario.

On the flip side, LLCs offer more personal liability protection, but the structure is complex and costly.

Step 3: Register Your Health Insurance Agency Name

Once you’ve composed a well-detailed business plan and decided on the legal structure, the next step is to register your health insurance agency.

If you go with Sole Proprietorship, then the organization’s name is, by default, your name.

However, you can also go with the “Doing Business As” (DBA) Name.

Ensure the business name is comfortable pronouncing, spelling, and related to your business idea.

Step 4: Get Your Business Licenses and Permits

You need health or general insurance license/permit to legally operate within a permitted geographical location.

You must contact a reliable legal attorney to guide you on state and federal laws on running a health insurance business.

Step 5: Acquire the Funds

Yes, you are done with outlining the business plan, picking the best possible legal structure. Further, registering your agency name and obtaining all the licenses, but what matters the most is the funds you require to scale your business.

However, gaining the trust of angel investors and venture capitalists isn’t a stroll in the park, especially for a new health insurance company.

But one thing could draw a fine line between getting funded or rejected — it’s the pitch deck.

Your Health Insurance Investor Presentation Should Be

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1. Concise

Investors are busy people who have little time to listen to a lengthy pitch. The average investor will only spend a few minutes looking at a pitch deck, so ensure the information is condensed, and data is quickly & effectively presented.

2. Well-Organized

Investors will quickly scan through your pitch deck, so the most critical information must be easy to find.

Use clear and concise headers to help your audience see the information they are looking for, and use graphs & images to illustrate your points.

3. Professional

Your pitch deck is your first impression to potential investors, so you’ll want to make sure that it looks professional.

Use high-quality images, choose a simple and elegant font. Ensure that your company logo is visible.

Although you’ll want to include some unique information in your pitch deck, it’s important to remember that investors are looking for a return on their investment.

Make sure that you focus on the aspects of your business that are most likely to result in a measurable return and leave out any information that may distract from your principal goal for the pitch.

4. Outcome Focused

Although you’ll want to talk about your company, products, and services in the “Present” time (e.g., what it looks like now), you’ll want to spend much more time talking about the future.

Investors are interested in what your business may look like soon, so make sure that your pitch deck focuses on what the future could look like if you are successful.

5. Interactive

It may tempt you to incorporate all of your most splendid marketing materials in your pitch deck. Still, it’s important to remember that most modern investors are most interested in interactive, digital presentations.

Avoid including too much text, and use graphs, images, and videos to help explain your points.
Even if you keep these general guidelines in mind, be sure to make your pitch deck unique and reflect the tone and content of your business.

A professional and polished presentation may support you secure funding, but only if it echoes your company’s language and style.

To further help, fortunately, in this article, we will guide you with drafting a successful health insurance pitch deck.

So, Let’s Scroll Down and Learn About the Essential Slides to Include in the Presentation.

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Slide 1: The Title Slide

No presentation is complete without a cover slide with a high-grade image relevant to the agenda.

For instance, in our template, the stethoscope instantly illustrates the presentation as being about a health insurance company, even to someone in the meeting room who seems less interested.

The white background makes the text “Health Insurance Company Pitch Deck” and “Company Name” easy to read with zero distraction.

Your cover slide must be in sync with your health insurance brand identity.

Be wary of displaying creativity, as this will have a negative impact on the minds of potential investors.

Download This 100% Editable Health Insurance Company Pitch Deck

Slide 2: Table of Contents

Although this slide appears least significant, the Table of Contents has a pre-defined role in an investor presentation.

A “Table Of Contents” (TOC) slide has as its purpose to give the audience a quick overview of the content of your pitch deck, and it is a visual way to show where each section of your presentation begins and ends.

There are many ways to create a TOC slide, and the simplest way is to list the titles of each section of your presentation on a separate slide.

You can then use bullets or numbers to show the order of the slides, as we have done in our 100% editable template.

Download This 100% Editable Health Insurance Company Pitch Deck

Slide 3: Industry Trends of the Global Health Insurance Market

The aim of this slide after the TOC is to drive investors’ attention by encouraging global statistics around the increasing health insurance sector market size.

The slide presents region-wise CAGR growth using a worldwide map. CAGR, or compound annual growth rate, calculates the average annual growth of a company, investment, or other financial metrics.

A stated CAGR often represents what an investment has grown over time but can also mean the average growth rate of earnings per share (EPS) or some other financial metric.

The slide has a Key Takeaways section on the right-hand side to highlight the critical metrics interpreted from the map.

Download This 100% Editable Health Insurance Company Pitch Deck

Slide 4: Key Drivers for Digital Trends in Health Insurance Industry

This aim round-up all the key drivers for digital trends that have contributed to the worldwide health insurance sector.

These Include rapid demand for fitness applications and products, tech-savvy people wishing to stay updated with their health conditions, the growing demand for seamless connectivity between the insurers and providers, and many other factors.

The image on the left-hand side relates to the digital agenda of this slide.

Download This 100% Editable Health Insurance Company Pitch Deck

Slide 5: Market Opportunity in Health Insurance Market

The health insurance market is a fundamental part of the American economy, and it is also one of the most complex and difficult-to-understand markets in the United States.

To simplify this for potential investors, this slide in this presentation highlights the remarkable market opportunity, with a few powerful statistics.

For example, the $29 billion is the market size of the health insurance industry in the United States.

Download This 100% Editable Health Insurance Company Pitch Deck

Slide 6: Problem with Health Insurance Today

Now, we have the problem slide.

The slide instantly mentions all the flaws or pain points in the existing process of obtaining health insurance.

Starting with agent meeting, paper application, medical exam, follow-up, 2nd agent meeting, and snail-mail.

The entire process is complex and time-consuming, often a big reason a large world population isn’t insured.

The slide also provides an idea about the difficulties, such as channel conflict, misaligned incentives, weak culture, and more.

Download This 100% Editable Health Insurance Company Pitch Deck

Slide 7: The Solution

What solution is to the pain points discussed in the previous problem slide? That’s what we will do on this slide.

The Company Counter the Rule Out Problems With the Following Solutions:-

Apply for Health Insurance in Just 10 Minutes.
Get Your Policy Instantly or in a Couple of Days.
No Medical Exams Are Needed.
No Commission-Based Business Model.
And More.

Download This 100% Editable Health Insurance Company Pitch Deck

Slide 8: How Does It Work?

In this slide, this insurance company showcases to investors how potential customers will get the policy with tremendous convenience.

The company added the App/website snaps to digitize the health insurance policy.

We Divide the Process Into Just Three Steps:-

First, Sign-up On to The Company’s Website/App, Which Won’t Take Over 10 Minutes.
The Second Step Is Instant Quotes, Analyzing Different Insurance Policies with Details.
And, Finally, Pay for the Policy, and Enjoy Instant Benefits.

Download This 100% Editable Health Insurance Company Pitch Deck

Slide 9: The Competition

This slide is essential in a pitch deck, as it shows your potential investors how you stack up against the competition.

To Create a Strong Competition Slide, You’ll Need to Include the Following Information:-

Your Competitors - List Your Top Competitors and Include an Overview of Each Company.

Your Competitive Edge - What Makes Your Company Stand Out From the Competition? What Are Your Competitive Advantages?

Download This 100% Editable Health Insurance Company Pitch Deck

Slide 10: Our Managing Team and Advisors

It’s imperative to include information about your managing team and advisors.

This slide can help investors understand who is behind the company and their experience.

Including the professional snap for each managing team member is an excellent way to start.

You can also highlight any relevant experience they have.

Don’t go into too much detail, but an overview of their background or major accomplishments can be interesting.

Be sure to include your advisors’ details as well. Advisors can lend credibility to your company and help investors understand the industry you’re operating in. If they are well-known or have a lot of experience, mention it.

You can also list any notable achievements they may have. Having this information readily available will promote investors better understand your company.