OUR SPECIALIST SERVICES

Plegasus buy, sell, exchange, start-up, merge, amalgamate, franchise, finance, partner and provide unique advisory and support services for any insurance agencies in Spain.

If you want to succeed in the Insurance Agency business in Spain, we will have the right package for you.

OUR SERVICES.

Our services are tailor made to suit the individual and/or your business requirements. Our insurance consultancy service covers every aspect of Insurance related business for any Insurance Agency, from start-up and business planning to financing the operation, rejuvenating existing businesses and managing them into profitability and sustainability. We arrange the sale, buying, managing, mergers, financing and acquisitions and much more.

SELLING YOUR BUSINESS.

If you have an insurance business to sell or dispose of, with or without portfolio, you have come to the right place. Selling an insurance business and/or the portfolio is no simple task and you will benefit from the experience of Plegasus as experts to secure you the best deal in the open marketplace. Contact us for a completely private and confidential, free consultation. We can help you.

BUYING AN INSURANCE BUSINESS IN SPAIN.

Existing insurance agencies in Spain want to increase the size of their portfolios. That is the business they are in. Plegasus are in the business of finding those portfolios and finding a buyer or seller and agreeing terms for both. These buyers and sellers don`t advertise on the Internet, so finding an insurance business to buy, sell, franchise or merge can be done through Plegasus Europe S.L.

RESEARCH.

Congratulations, if you are reading this you are doing your research. Research is a vital tool if you want to succeed in the insurance business in Spain. Plegasus Europe S.L. provides an Insurance Agency Business Consultancy Service that can help you succeed. Contact us now and we will guide you through the process and provide support along the way.

INSURANCE AGENCY START-UPS.

Starting your own insurance agency in Spain is a complex task and you will need assistance and advice if you want to succeed. Plegasus has the knowledge and experience to help you achieve your goals.

A GOOD IDEA.

Starting with a good business idea can sometimes get you so excited that you want to get started right away and plunge blindly into something you know little about. In Spain, the legal regulations for starting an insurance agency business can be daunting and knowing the right way to go about setting up your business is vital. Plegasus have multilingual staff, lawyers and teams of experts that can answer your every question. Call us for advice, we are here to help you and your first consultation is free and strictly confidential.

BUSINESS PLANS.

All business plans are different and will depend on what, where, when, why, and how much all of that is going to cost. Having a good and workable business plan does make sense. You are trying to create a business plan for a business you may know very little about, so what do you plan? Plegasus are experts in the general insurance business field and we can provide the knowledge, skill and information you need and help you establish a viable business plan using proven and reliable information.

EXPERIENCE.

Do you have any experience operating an insurance agency in Spain? Do you have any experience running your own business? Plegasus can offer business and insurance training with a superb backup and support facility for your business.

WHICH INSURANCE COMPANY TO USE ?

How do you decide which insurance company to use? Plegasus have extensive knowledge and practical experience of Insurance Companies in Spain and can guide you. You will want to know which companies offer the best commission, the easiest expat insurance company to use, those that speak English, which ones have a good backup and support service, how your claims are handled, which insurance companies can provide the largest spectrum of cover so that you can captivate more of the market and what documents and legal stuff you need to do to comply with legal Insurance agency agreements. We do it all, so call us.

LEGAL REQUIREMENTS.

Legalising your business must be done in Spanish and you will need a lawyer. Not all lawyers understand the insurance business. We do and our legal team can provide you with all the advice about setting up, re-establishing or closing your insurance business. Getting this section correct is vital to the sustainability of your business. Plegasus can provide you with the complete legal structure to match your business plan.

ACCOUNTS.

Spanish accounts have to be provided in Spain every quarter. Understanding and utilising your accounts for your business in Spain is the lifeblood of your business. Knowing how to get this right, how to set up the accounts, the right software to use, how to analyse your business, sales, costs and other expenses is daunting. Plegasus can provide you with a full accounting services and advice on whatever you need, including continuous support and backup for as long as required.

TRAINING AND DEVELOPMENT.

Plegasus can provide suitable experienced personnel and staff for your business, recruit the right people, mediate the employment contracts and provide you and your staff with insurance product knowledge and training.

BUSINESS NAME.

All good businesses start with a suitable brand name. Selecting, registering and branding your business correctly in Spain is something we do at Plegasus. Our business design team will create ideas for you based on our experience and knowledge to ensure that you have the best start possible.

BRANDING.

Like all good corporate logos and well-known brand names, they have all started from a good corporate identity. Plegasus will help you get this right. Changing corporate identities and branding years into a project can be problematic, so consider your corporate identity as one of the most important factors governing how you want your insurance agency to be recognised now and in the future. Think BIG!

REGISTERING YOUR BUSINESS.

If you are considering registering your business, whether you intend to keep it for life or plan to sell it, be aware that if someone is going to buy or be part of your entire business in the future, your branding and corporate identity can make a big difference to the sale price. When client’s buy a society limitada (S.L. or what we know as a limited company in Spain) as a registered business, they will be undertaking any debts or on-going liabilities that the company has, or may incur from the past and into the future.

GOOD WILL.

If your business has a good reputation of long standing and has an enviable track record, your goodwill can be worth money. Plegasus will research your business and calculate the value of the goodwill that your Insurance business could achieve.

PORTFOLIO MANAGEMENT.

Snowed under with paperwork, claims and telephone calls with no time get the paperwork done or pursue those things you always wanted to do with your business? Pegasus can manage your portfolio, tend to your business needs and advise on the best way forward. By providing those essential backup services for all the tedious non-income work, we can get you into a position to grow.

NEGOTIATIONS.

Whether you are buying, selling or interested in an insurance agency business, Plegasus can help you with any negotiations. With years of experience in the Insurance industry in Spain, Plegasus can protect your interests and ensure that you get the best deal.

ONGOING SUPPORT

Insurance businesses tend to lean heavily on paperwork, for policies and product information, claims, follow-ups and customer contacts. Plegasus have systems from the basic databases to computer management systems that make life easier and provide more time for you and your staff to concentrate on selling insurance. Plegasus can handle the full administration and/or the accounting and eliminate the hassle of you doing any of the paperwork.

TAKEOVERS.

You have seen an insurance agency business that you like and it is exactly what you are looking for. Are they willing to sell? Not sure how to approach them? Want to do it anonymously? Plegasus can help by being an intermediary. All our consultations are strictly private. We will approach companies for you to see if they are interested in selling, even if it is not being offered for sale. At the right terms, most businesses are for sale. A business is not likely to place a big FOR SALE board advertising that they are for sale when they are an on-going concern. They may not want the staff to know that the owners are wanting to sell.

ACQUISITIONS.

Buying an existing insurance business that has been established and has built up a network of client´s can often be the best way to get started. If you have the funds (Plegasus have investors that may be willing to support you if you need to raise capital) buying an existing business gives you a client bank, an insurance portfolio and an immediate income stream. Plegasus can provide services to examine accounts and the business standing of any business you wish to buy and we will offer advise on the value, turnover and potential of that business.

Starting a new Insurance business and getting it to a point where it is profitable or can provide you with a regular income takes time, developing customers, clients and a network of contacts can take years, lots of money, devotion as well as a certain skill set.

AFFILIATE INSURANCE

Do you want to be associated with a much larger and perhaps better known and respected insurance agency? You can become an affiliate member. This does have the advantage that you will not have any overhead costs other than to refer the clients to your affiliated insurance agency. If you get the right affiliate with the right company, they will also pay you on the renewals. Affiliations are a good way to get you started and established without the need for offices or having to deal with the administration and such time consuming tasks like claims.

TRADEMARKS AND PATENTS.

Protecting your business name and logos with trademarks and patents will protect you from others utilising your name. Once your business name is registered in the mercantile registry in Spain, no one else can register that same name. However, logos and intellectual property, if considered of value, or are likely to be of value in the future, need to be protected in Spain with the patent y markas office.

COMPETITION.

It’s fierce out there. Hundreds, if not thousands of insurance agents are vying for that insurance, big corporations spend millions on advertising and promotion. How would you be able to compete with them? Niche markets are saturated; some small villages in Spain have 7 or more different insurance agents competing against each other. Plegasus have proved that it can be done, with careful planning, administration and the right tools for the job.

TRAINING AND DEVELOPMENT.

Skills training and staff that know what they are doing are able to portray their skills to the clients and provide a vital service to your business. Having the right, qualified staff is the cornerstone to your business. Paying peanuts will get you monkeys! Quality staff are more effective and they will provide the support and loyalty your business deserves. Staff with people skills, but no formal insurance training, can join our training day seminars, or those offered by particular insurance companies. Contact us for more information on staff selection and training. Plegasus can also vet your employees to improve their standards and operating procedures.

EMPLOYMENT REGULATIONS.

Taking on an employee without some form of legal contract can leave you liable to a fine of up to €10,000. There are no trial employment periods whereby you can try out potential employees for a few days. All staff working in your offices, whether full or part time require a contract by law. Employment law is complex in Spain and Plegasus can provide you with detailed information about employee and employer laws.

EMPLOYEES:

This is free and sensible advice. Selecting the right people is the foundation of any business. With the variety of Expats from all over the world living in Spain, employing staff that are multilingual and speak Spanish and with local insurance product knowledge, will help your business grow. Spanish speakers can also help your business with any regulations or translations that you may need to deal with on a daily basis.

IT RESOURCES.

Computers are now an essential tool for this industry. Websites, social media, computer software, and a whole host of IT resources are needed. Knowing how to use them properly and which ones to use, will improve your business potential. The Plegasus team can advise on the best type of computers, programs and computer management systems to use that will suit your business and development requirements for the future.

WEBSITES.

To be seen and found in this business you will invariably need a good Website at some point. Simple, off the Internet websites and templates will not be much use in the long term. If you are on a budget, these can be a cheap alternative that you can develop later when you have more funds. Be aware that your public image to the general public and their perception of your business is reflected in where they can find and contact you.

SEO – SITE ENGINE OPTIMISATION.

SEO is a vital part of any business that uses a website to attract customers. If customers can’t find you they can`t consider doing business with you. Expert knowledge is needed. With care, the correct SEO can be incredibly beneficial, and as we have proven, even the big boys can be beaten. Plegasus have developed a proven track record of improving Website visibility and increasing Google rankings quite significantly. In one case recently, one of our clients website ranking jumped by 10 million places in the space of a week.

DATA

Client data is the backbone of the insurance industry. If you have a client’s information it is as good as a potential lead that can turn into business. You’ve exhausted all your friends and family for insurance business and now you need to get on with the task of getting data. Where do you start? How do you gather it legally? We know how.

DATA PROTECTION.

Strict laws apply to the storage and collection of personal data in Spain. As an insurance agent you will need to store important client information in a secure place where it cannot be accessed, hacked or stolen by anyone not authorised to do so. Other restrictions apply – Consult us for more information.

EMAIL CAMPAIGNS.

Email campaigns are a good way to expand your client database as long as they are done properly. Ad hoc emailing will get your business blacklisted. Email campaigns need data and data collecting on expats living in Spain is difficult. If you don’t have email addresses where do you start? We have the solutions.

SOCIAL MEDIA.

A new buzzword for advertising executives. Don't fall into the trap of thinking that Social Media is the ultimate tool for your business as it can all too often be an expensive distraction. It may help with branding and company awareness, but there is little proof that it actually converts to business. Consider that telesales has an average of a 4% return; social media is less than 0.4% (Source: - from our own comparisons and extensive social media campaigns by outsourced specialists)

TELESALES AND COLD CALLING.

Some staff will take to telesales like ducks do to water and others absolutely loath cold calling. Get the balance right and you’re on to a winner. Be careful, there are strict rules and regulations about how you go about cold calling clients. Cold calling a potential client about insurance is extremely unpopular and if you get reported, you will face heavy fines. Plegasus have developed a tried and tested method of contacting client’s – consult with us for details.

ADVERTISING AND PROMOTIONS.

Most people think of advertising as an important part of your business – it is. Newspapers, social media, magazines, television, fetes and fairs, handouts, flyers, posters, stickers, gifts and a whole plethora of promotional material and ways of using it are available. How you go about it is even more important. Finding out what works and what doesn’t can be an expensive process. Only 4% of the world’s advertising budget, some 18 billion Euros, has been proven to be effective. That’s 17.28 billion Euros that have been wasted on advertising in the wrong places. We know what works, so if you want to find out what are the most effective forms of advertising then please consult with us first.

PREMISES.

We would all like our insurance agency premises to be located in the most ideal location, have the best outlook, get the most foot fall, is easy to see, has lots of parking spaces, a coffee shop and quality food outlet next door, and will attract lots of new customers. This does come at a price. Picking your new office location or moving your existing location to another is an important factor when establishing an insurance office in Spain. Find out how you can achieve the ultimate office location by consulting with us.

LICENCES.

All premises in Spain require an opening and operating licence. Make sure that the offices you intend to use have the permissions to be used as an insurance office. Your local town hall will advise you on the suitability of your choice. Care must be taken as your premises are going to be open to the general public and such things as wheelchair access, large toilet areas for wheelchairs to turn around in, fire points and extinguishers, extractors, air conditioning unit locations and health and safety requirements need to be approved. Altering premises to accommodate the latest building control regulations can be very expensive. Contact us if you need any advice.

AGENCY AGREEMENTS.

Any agency agreements with a Spanish insurance company will be in Spanish. It is important to check what you are actually signing. You need to know what will happen to your client’s if you cancel the agreement and decide to use another insurance company. You could lose all your clients. Use our legal services to make sure you are safe. Not many legal services, hestors as they are known, are familiar with what you need to know and are just interested in providing you with a service, not advice. If they are not specialists in this field they will not know what to look for. Be safe, use our specialised legal services for any business setup.

PROTECTIONS.

Your now a fully fledged insurance agent and have your own offices. Don’t forget to protect your own business with the correct insurance products. Fire, theft, buildings and contents, public liability and staff health and safety and having the correct life insurance with permanent disability cover should be a must.

WHAT TO DO NOW.

Congratulations! If you have read everything to get to this point you are doing your research and as you will know by now, we are the only company in Spain dedicated to the support and backup of insurance agencies in Spain. We have provided you with snippets to get you interested. Now call us. We will and can help you.