Stop the Bleeding – How to Keep Your Current Clients Even When Their Premiums Go Up

Many agents dread the anniversary date with their client’s insurance plan. They’re resigned on the potential loss of that client to another agent or broker.
But top producers are aware that it doesn’t have to be doing this.
Whether you’re courting current customers or giving old prospects another twirl, renewal time will offer a chance for further revenue. A conversation orchestrated with finesse – and good timing – may result in renewal dates that deliver new insurance leads and purchases.
Your Best Access to New Customers Are the Ones You Already Have
An upcoming renewal date supplies the perfect window to obtain your overall customers on the phone. And if handled well, this can open into a discussion of other products – and even referrals, the very best sort of insurance leads.
Of course, the important thing to approaching either of those subjects is customer satisfaction.
You shouldn’t give your call the telemarketing kiss of death. You also wouldn’t like to endanger your good standing using your customer and, in a very worst case scenario, annoy them into choosing a different agent. However, with some judicious wording, you could score points start by making your client feel covered. Try something similar to this:
“Hi Carol, that is Jason of BBG Insurance. Your policy’s renewal date is originating up. I’m calling to give you an insurance coverage check-up to view how your present plan stacks up in today’s market.”
First, this call implies that you’ve initiative. Second, you add your dedication to service front and center.
Before going for a chance to move elsewhere, you’ll be able to answer any queries or problems they may have. Even if they don’t really have any issues or difficulty with their current plan, they will often provide you with an opening to take up other products – or ask to get a referral.
If you realize for sure that their premiums have gone up, offer to enable them to compare other plans. This may mean switching them to another plan or carrier. The best way to do this can be with a multi-carrier insurance quote engine that permits you to and your clients compare different plans alongside.
You could also utilize end with the conversation being a last opportunity to make certain all of their needs are met by asking whether they have questions regarding other services. Alternately, you are able to utilize the occasion to let them understand that you happen to be available to them being a complete insurance resource. Something like this achieves a great balance between directness and grace:  
“Okay, great! I’m so very happy to hear that. Now, remember that if you’ve got some other insurance needs like term life insurance or automobile insurance, I’d love to enable you to there, too. And of course that applies to anyone you understand as well. It is my goal to become as valuable an insurance resource for your requirements as is possible.”
Old Prospects: Strike When the Iron’s Renewal Date Is Up
Just because a prospect didn’t enroll in a plan along recently does not mean they don’t in 2010.
They might be unhappy with all the policy they chose – or even the agent they caused. Even if they may be pleased with their previous policy or agent, there’s an excellent chance that they’ve received a notice of the premium increase.
Whatever the reason why, their renewal time will be your possiblity to convince these to produce a switch. Ah, but wait, self-managed Superannuation fund how do you make sure they switch for your requirements?
The quick answer is to get the one that provides them with options and keeps your offers on their mind all the time.
While this may sound like a magical deed for most agents, it’s as elementary as clicking a mouse for just about any agent with email autoresponders. An email autoresponder is really a lead nurturing tool that allows agents to program email campaigns around twelve months out, scheduling them for crucial times – such as prior to a renewal date.
LeadMiner, one in the top marketing autoresponders in the health care insurance industry, even provides seamless integration with a multi-carrier quote engine. This means that you can send emails with updated, custom quotes depending on the information your clients originally submitted after they were just insurance leads.
In addition to renewing a prospect’s interest, an advanced system like LeadMiner also notifies you every time a prospect or client actually viewed your email and visited a hyperlink to acquire updated quotes. This is really a clear indication that they have insurance on his or her mind and therefore are prime candidates for any call or perhaps a timely email reminder.
So whether you’re courting the prospect that got away or getting referrals and new sales from your present customers, don’t shun on renewal time-the prospect of new revenue is just too big great.