View All 3 Minute Insurance Agent 2021 Videos For the Week
If you are an Insurance Agent 2021 stop and take a moment to watch these videos to help you become ridiculously amazing this year.
Stopping A Call In Insurance Cancellation
Our next deep-dive topic is one that can be crucial to insurance agency businesses: it’s how to reduce cancellations. Our first focus is stopping a call in insurance cancellation, or what to do when a client calls in and wants to cancel their insurance.
We need to take a deep breath and say “Hold on, this person doesn’t want to be our client anymore.” Over-servicing them, making them feel so great on the way out, is maybe not the approach we want to take. We need to be a professional and have the conversation about why someone’s leaving.”
Far too many agents are sweethearts, meaning they’re quick to bend over backwards with an “Oh no problem, let me help you with that.” While we always think professionalism is crucial, we also think that over-servicing customers who are trying to leave us, and making them feel great on the way out, may not be the best approach.
Reasons people cancel their insurance
All this week we’re honing in on how you can boost retention by reducing insurance cancellations. In order to do that, we really need to have a thorough understanding of the reasons people cancel their insurance. If your insurance agency needs help tracking reasons people cancel their insurance, you’re not alone. Many agencies we work with don’t have a full handle on this data. But the truth is, when you understand the reasons people cancel their insurance, you can ultimately reduce cancellations.
“You can’t address it if you don’t know about it, and that’s a huge strategy we all need to embrace.”
Insurance Late Payment Calls
Today’s topic can be one that stirs up controversy in our industry: do you make insurance late payment calls? When a client doesn’t pay, every agency has their own strong feelings on whether or not you should call them. We wanted to share our perspective.
I see late payment calls as an opportunity, with the right process, with the right strategy.
Calling An Insured Who Is Cancelling
If you get hit with a client cancellation that comes in through your agency, and you don’t get the chance to speak to the insured yourself, are you going to reach out and call them back?
“How do we call out to a client who cancelled? Maybe they called into the carrier, maybe the other agent sent in the cancellation, but you didn’t get a direct hit to be able to try to be able to save it. Here’s a couple considerations.”
Calling an insured who is cancelling can help stop a cancellation in its tracks, and sometimes it’s necessary, in certain situations. But we think if you’re going to be calling out to clients, there are a different set of rules at play.
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