Oregon Life Protection | Application Preview
Oregon Life Protection is seeking government grants to support the establishment of a new office in Estacada, Oregon. The funding will mainly be used for office setup, enhancing their website, and increasing marketing efforts for their services.
The business plan includes hiring two commission-only brokers after launching the office and expanding their insurance offerings to include property and casualty (P&C) and health insurance. The goal is to grow revenue sufficiently to employ a salaried bookkeeper or receptionist. They are confident that offering free consultations will generate word-of-mouth referrals, enabling them to serve not just Clackamas County but the entire state of Oregon.
Oregon Life Protection emphasizes its mission of providing solutions rather than merely selling insurance. Their focus is on assisting Oregon residents in safeguarding their families against significant losses, particularly the loss of a loved one. They operate on a commission-based model from insurance companies, ensuring that their efforts remain centered on client needs.
In terms of competition, they face other local insurance brokers but believe they have a competitive edge. By expanding their licensing to offer various types of insurance and emphasizing their role as consumer advocates, they can differentiate themselves from exclusive agents. The owner's established reputation in the Estacada community and the unique offering of free consultations further strengthen their competitive position.
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General Information
Business Registration Number: 85-2997233
Location: Milwaukie, OR, United States
Length of Operation: Less than one year
Number of Employees:
Annual Gross Income:
Annual Gross Expense:
Open to Loans: YES
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Funding Usage
Ideally we would like to use the funding to open an office location in Estacada, OR, further invest in the development in our website, and increase advertisement of our new business.
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Business Plan
After opening an office location, we would like to add two new brokers to the agency who would work for commission only, not salary. We would also like to add additional lines of insurance, such as P&C and Health insurance. If the business has made enough revenue, we would like to hire a bookkeeper and/or receptionist on salary. We think that since we are offering free consultations, word of mouth will help us grow quite large in Clackamas County, but we also plan on serving residents of Oregon as a whole; not just Clackamas County. We do not sell insurance, we provide solutions. Our business is simply caring about the residents of Oregon and ensuring their families are protected from the most devastating losses; the loss of a family member. We do not charge our clients to help them find the best insurance policies. Instead, we are rewarded by the companies we enroll our customers into so we can focus only on helping people.
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Self Identified Competition
-Rafael Perez, Oregon Life Insurance Broker. -Thompson & Associates Insurance Services LLC -Insurance Solutions NW Inc. If we can expand our licensing to include other types of insurance besides just Life insurance, we will have a leg up over exclusive agents that only provide one type of insurance. We are brokers, so we advocate on behalf of the consumer; not the companies. The owner of our company is also well known around the community of Estacada, and people trust her. Since there are no other agents in Estacada that provide free consultations, we will have an advantage in our little community.
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Contact Applicant
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