In order to reduce insurance reshopping in your agency, be a ninja at using carrier discounts. This can be a challenge, but if you keep a list of discounts centralized for all to access, it’ll increase efficiency and streamline the remarketing process.
We see so many people who are fearful about the rate conversation with clients. Having a list of discounts automatically gives you talking points when you call the client. But you have to call the client!
You will feel confident when talking with the client and the client will feel in control because they can reject the discount thus removing your fear about the dreaded rate conversation.
If you’re having a hesitation about rate, your client is going to feel that hesitation and perhaps doubt their commitment to your agency and move their insurance. We can prevent that from happening by having a plan.
We have a new standalone course that you can get for your agency and it’s all about how to have the icky conversation about rates. There’s everything that you need to help have those difficult conversations that most people dread. That dread keeps the team from picking up the phone to talk with your clients.
This is a rate-handling course. And we add a new course in every quarter, so your team is constantly trained. It’s a system and it will hold you and your team accountable to continuous training that will help to develop strategies to reduce remarketing, boost retention while crushing quality conversations with confidence.
Here’s a tip from the course on how to reduce insurance reshopping that I think every agency should track. This is similar to the way you would track a closing ratio in sales. Review how many remarkets were done and how many clients moved. Track the number of remarkets within a certain timeframe and ultimately how many were closed.
We find that everybody on the team has different statistics. Which means that some account managers are predisposed to either recommend a remarket or defend the rate.
If we can get good at having the rate conversation, we’ll see the quantity of remarkets decline. This eliminates frivolous remarketing. You’d want a little extra free time, wouldn’t you? Who doesn’t!
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