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.
Here are our top three tips to keep in mind, when someone calls in and wants to leave your agency:
1. Send it to the person best-suited for the job
When we’re trying to stop a call in insurance cancellation, we shouldn’t send the call to the “sweetheart” agent, as we mentioned above. Instead, we should send the call to someone who might be better-suited for the job. If you have someone who is good at handling these potential churns, send these customers to them. Treat them like an EMT who can best handle a patient on life support.
2. Get comfortable quoting over the phone
We say this time and time again, but quoting over the phone can be a huge advantage for you, even when a customer is trying to leave. Here’s the scenario: you ask the customer why they’re moving on, and they can tell you that it’s related to price, service, or another reason. While they’re chatting, you’re quickly looking over other options on your computer in the background. Maybe they’re switching to a carrier you have, or you were unaware they were frustrated with their service, and there’s a way you can remedy that. If you’re quick on your feet and can quote over the phone, you may just be able to stop the cancellation.
3. Don’t make it too easy
It’s really important to keep in mind that if your goal is stopping a call in insurance cancellation, you shouldn’t make it super easy for a customer to leave. Think about it this way: it should be harder to leave than it is to get a quote. With many agencies, it’s really the other way around, and is actually harder to get a quote. Keep the customer talking, and create a few hurdles by asking questions. You’ll find out useful information, and may just be successful at stopping the call in insurance cancellation.
If you’re looking to really become a pro at stopping call in insurance cancellations, we have an entire process pack just for this purpose. It includes more strategies, scripts to follow, and role-playing videos.
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