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. Here are some things to keep in mind when calling an insured who is cancelling.
1. Only call clients who are worth your time
As an agency, you should have some criteria for deciding which clients are worth winning back, and which clients may not be the best fit for your agency. While it can be tempting to try to save every client cancellation, it’s sometimes a saving grace when some customers leave. Every agency should have criteria for this set in stone. There will be times when it’s a judgement call, but having guidelines in place can help you weed through a majority of your clients.
2. Find out if it’s price related
If the client cancelled due to price, and they’re a good client, they might be worth the call back. Although we don’t often recommend this, it might be a great opportunity to reshop the client, based off of the information you have. When you call them back, you can confirm the cancellation was due to price, and see if the discounts are right, or what other offers you can make them. You might also find out that they’re leaving you for a company you have, which might be something you can easily remedy.
3. Reach out in the right way
Many times when you’re calling an insured who is cancelling, you’re going to hear crickets in response. While they may not return phone calls or open emails, we do have one recommendation: send them that remarket in the mail. Yes, the old fashioned snail mail. They’re likely going to open that letter, and depending what’s in it, you could pique their interest.
4. Make it a daily habit
Agencies often wonder how often they should call these cancellations, and we recommend making this part of your daily routine. The closer you’re calling to the actual cancellation itself, the more likely you are to be able to win back the account.
Calling an insured who is cancelling might not be the best approach in every situation, but for good clients, it can be well worth the effort. Plus, if you need some guidance on how to do it right, we have all of this wrapped up into our Process Packs.
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