Business plans, regardless of the industry and business type, are very important. Without a well-crafted plan, you'll risk running your insurance company blindly and without a goal. But, keep in mind that business plans are just that, plans, and it will still be up to you and your company if you will agree to implement the plans. Also, when agreed, you should put that in writing and make an approval sheet that collects the signatures and statements of the ones who approved the plan.