GMI LLC | Application Preview
GMI LLC is applying for government grants to cover startup expenses and monthly system access fees. The business aims to generate $100,000 in annual insurance premiums over the next five years, resulting in a total of $500,000 in premiums by the end of that period. Currently operated by a single individual, the business focuses on insurance quoting and servicing.
The applicant has 13 years of experience as a top insurance producer with a captive insurance company. However, they recognize limitations in client rates within this model, which motivates them to seek partnerships with a wider range of insurance companies to better meet client needs.
GMI LLC faces competition from major captive insurance companies such as Allstate, State Farm, and Farmers. Its competitive advantage lies in offering personalized service and attention that larger firms may lack. The applicant values building lasting relationships within the local community, maintaining accessibility and a responsive approach to help clients make informed insurance decisions.
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General Information
Business Registration Number: 6975810
Location: Los Lunas, NM, United States
Length of Operation: 1-5
Number of Employees: 1-10 Employees
Annual Gross Income: Less than $100k
Annual Gross Expense: Less than $100k
Open to Loans: YES
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Funding Usage
Primarily pay for start up expenses and monthly system access.
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Business Plan
Write 100,000 in annual insurance premium each year the next 5 years to hit 500,000 in premium at the 5 year mark. I’m a one man operation doing the insurance quoting and servicing. I have a 13 year proven track record as a top insurance producer for a captive insurance company. However there are limitations in terms of rates for clients in the one company models, so hence the benefit in finding the right company to widen the net of people served to meet their insurance needs.
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Self Identified Competition
Large captive insurance companies like Allstate, State Farm, and farmers I’m one person to offer the necessary attention that people need to make informed insurance decisions and care about building life long relationships in my local community to best protect their hard earned assets. I’m responsive and accessible and put people first.
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Contact Applicant
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