When you think about calling every customer once per year for an annual review you may think - holy shnikeys that's a lot of work. However, so is chasing your tail!

The trick is to think of renewal reviews as an opportunity - in reality, they are growth nuggets if we have the right mindset. If agencies can turn from looking at growth from new business to growth through the current book all the metrics can change. 

By adopting a strong renewal review strategy your agency can experience:

• Reduced Inbound Calls

• Increased Retention

• Reduced Remarketing

• Increases in Coverage

• Account Rounding

• Cross-Selling

• Reduced E&O Exposure

• Updated Contact Information

• More Referrals

9 steps to take the sting out of renewal review calls: https://www.agencyperformancepartners.com/blog/retention-strategies-anatomy-of-a-great-renewal-review-call/

Grab our Personal Lines Renewal Call: Checklist https://share.hsforms.com/1wMHaLN7ZTLa1dPl9sy-NDg1beus

Get 15% off our renewal retention course to help guide your team through a proven process: https://www.agencyperformancepartners.com/agency-retention/

CODE: RENEWAL

#insuranceretention #renewalreviewcalls #launchingrenewalcalls #insuranceconsultant #insurancetraining #salestraining #insurancecoaching #insuranceleadership #insuranceagencyowner #insurancesalestraining #insurancetechnology #insurancetraining #runninganinsuranceagency #insurancesales #timemanagement #insuranceagencytraining

For some people getting started on making renewal calls can be perplexing! What do we say? What do we ask? Will anyone pick up? For this reason, we will walk you through the steps we take on a renewal review call. 

Also just for you we are giving away our Personal Lines Renewal Review Call Form that you can use and customize just for you:

Here are the steps we take in a renewal review call:

1. Call Preparation

2. Voicemail Script and Documentation

3. Intro & Contact Information

4. Updates

5. Coverage Review

6. Rate Discussion

7. Discount Check

8. Conclusion & Documentation

9. BONUS - If you need to remarket

9 steps to take the sting out of renewal review calls: https://www.agencyperformancepartners.com/blog/retention-strategies-anatomy-of-a-great-renewal-review-call/

Grab our Personal Lines Renewal Call: Checklist https://share.hsforms.com/1wMHaLN7ZTLa1dPl9sy-NDg1beus

Get 15% off our renewal retention course to help guide your team through a proven process: https://www.agencyperformancepartners.com/agency-retention/

CODE: RENEWAL

#insuranceretention #renewalreviewcalls #launchingrenewalcalls #insuranceconsultant #insurancetraining #salestraining #insurancecoaching #insuranceleadership #insuranceagencyowner #insurancesalestraining #insurancetechnology #insurancetraining #runninganinsuranceagency #insurancesales #timemanagement #insuranceagencytraining

There is no magic bullet or secret sauce to launching renewal review calls to boost your insurance customer retention. If there were, I would certainly own the market on it! This strategy is very, very traditional. It's not revolutionary. This is actually how insurance was always run. 

The difference is that technology, automatic renewals, and more have made our lives easier (and the goal was to spend more time with customers). Still, in today's crazy world, we take care of the clients with problems and often forget the clients that are our most profitable. 

Understand that anything new can be overwhelming, and work with it. Don't force-feed the renewal calls, and give them the time they deserve to educate your team and provide them the tools they need to succeed. Telling someone to do renewal reviews doesn't work. However, onboarding the team with new thinking can be successful over six months. 

What NOT to do when launching a renewal review call process:

https://www.agencyperformancepartners.com/blog/customer-retention-launching-renewal-review-calls-with-your-team/

Grab our Personal Lines Renewal Call Checklist:

https://share.hsforms.com/1wMHaLN7ZTLa1dPl9sy-NDg1beus

Get 15% off our renewal retention course to help guide your team through a proven process:

https://www.agencyperformancepartners.com/agency-retention/

CODE: RENEWAL

#insuranceretention #renewalreviewcalls #launchingrenewalcalls #insuranceconsultant #insurancetraining #salestraining #insurancecoaching #insuranceleadership #insuranceagencyowner #insurancesalestraining #insurancetechnology #insurancetraining #runninganinsuranceagency #insurancesales #timemanagement #insuranceagencytraining

Here is the reality. How you launch renewal review calls with your team is just as important as making them. Like selling a new lead, you need to identify their core pain points and connect clearly how these calls can make a huge difference to their lives.

Before we outline how to launch renewal review calls, this is how not to launch renewal review calls:

• Email the team the news (this is when you need a bulletproof vest)

• Mandate reviews, walk away and check in a month later, and be shocked that they aren't made

• Ask the team to try reviews (this seems temporary or optional)

• Get in a meeting and make it seem wild and hard

In order to earn your team’s buy-in on renewal reviews, you have to show others you believe and support it. This, for a leader, means:

• Being abreast of the metrics (knowing the average number of calls)

• Appointing a Beta Tester (letting someone else work on the kinks)

• Discussing with other agencies/listening to podcasts from people who have accomplished this

• Knowing the game plan and writing out the process

• Having regular weekly meetings to check in and understand what is working, and troubleshoot solutions

• Being prepared to track renewal review calls 

• Having an incentive plan to celebrate doing something hard 

What NOT to do when launching a renewal review call process:

 https://www.agencyperformancepartners.com/blog/customer-retention-launching-renewal-review-calls-with-your-team/

Grab our Personal Lines Renewal Call Checklist:

https://share.hsforms.com/1wMHaLN7ZTLa1dPl9sy-NDg1beus

Get 15% off our renewal retention course to help guide your team through a proven process:

https://www.agencyperformancepartners.com/agency-retention/

CODE: RENEWAL

#insuranceretention #renewalreviewcalls #launchingrenewalcalls #insuranceconsultant #insurancetraining #salestraining #insurancecoaching #insuranceleadership #insuranceagencyowner #insurancesalestraining #insurancetechnology #insurancetraining #runninganinsuranceagency #insurancesales #timemanagement #insuranceagencytraining

Making the calls:

First let’s discuss voice. Use a customer service voice, NOT a mom/dad voice. Make it sound serious, not optional. We want to connect with 40-50% of our customers. We can only do that by being professional and serious. 

We are representing the agency and ourselves, and with our insurance license, we need to be professional, serious, and friendly at the same time. Now is the time to get to know your clients, build relationships and rapport and show value.

It is important to consider these six things while making the renewal calls:

1. Introduction- be human; introduce yourself and your agency.

2. Rapport- Find things you may have in common.

3. Review - their policy, what they have, may have changed or updated.

4. Recommendations - Make educated recommendations. You are, in all reality, a professional licensed insurance agent, right?

5. Confirmation of Next Steps-setting expectations with the client. 

6. Gratitude - Thank them for their time and their business with your agency.

How to boost retention and reduce remarketing when insurance rates increase:

https://www.agencyperformancepartners.com/blog/customer-retention-strategy-in-the-insurance-industry-how-to-set-up-renewal-reviews/

Grab our Personal Lines Renewal Call Checklist:

https://share.hsforms.com/1wMHaLN7ZTLa1dPl9sy-NDg1beus

Get 15% off our renewal retention course to help guide your team through a proven process:

https://www.agencyperformancepartners.com/agency-retention/

CODE: RENEWAL

#insuranceconsultant #insurancetraining #salestraining #retentionstrategies #renewalreview #insurancecoaching #insuranceleadership #insuranceagencyowner #insurancesalestraining #insurancetechnology #insurancetraining #runninganinsuranceagency #insurancesales #insuranceretention #insuranceagencytraining

There are so many customer retention strategies that we can use to get to a final product or result. We need to execute and adjust these strategies by testing them for success. Something that works for one agency may not work for another. But it may not be the strategy itself but the PROCESS to the strategy. 

At APP, we feel EVERY agency should be doing renewal review calls to maintain customers and increase retention. Besides, those customers pay your bills, don't they? At least they deserve to hear from you.

What is our problem?

• Not following up with our clients after the sales. 

• Pretending everything is OK - they will just stay with us without the agency having to do anything. 

• Not keeping up with numbers and not realizing you may have a lot of DWP (Direct Written Premium) but have a leakage problem or, in other words, a retention problem. 

How to boost retention and reduce remarketing when insurance rates increase:

https://www.agencyperformancepartners.com/blog/customer-retention-strategy-in-the-insurance-industry-how-to-set-up-renewal-reviews/

Grab our Personal Lines Renewal Call Checklist:

https://share.hsforms.com/1wMHaLN7ZTLa1dPl9sy-NDg1beus

Get 15% off our renewal retention course to help guide your team through a proven process:

https://www.agencyperformancepartners.com/agency-retention/

CODE: RENEWAL

#insuranceconsultant #insurancetraining #salestraining #retentionstrategies #renewalreview #insurancecoaching #insuranceleadership #insuranceagencyowner #insurancesalestraining #insurancetechnology #insurancetraining #runninganinsuranceagency #insurancesales #insuranceretention #insuranceagencytraining

If your team is like most teams across the country, they immediately panic when the rate is higher than they initially anticipated, or if they see a rate increase on renewal. It's okay. You are not alone, and you have already taken the first step in reading this blog. 

When that panic sinks in, it is usually because they feel as if they are about to have to climb Kilimanjaro and go into reshop mode for the next hour or 3. I would say the first thing to do to lead your team through rate changes is to develop a strong plan. 

Guess what? You are about to read about our suggestions for a plan over the next 5-10 minutes.

Train your team to educate clients on the dreaded rate increase conversation: https://www.agencyperformancepartners.com/blog/how-to-lead-your-team-through-insurance-rate-changes/

Get 20% off our RATE INCREASE CONVERSATION Course: https://www.agencyperformancepartners.com/reducing-remarketing/

Complete our form and grab our scripts on how to have the rate increase conversation: https://share.hsforms.com/1-BVw-FYGRSOL7GtS7Arm3g1beus

#insuranceagency #insurance #insurancetraining #salestraining #insurancecoaching #insuranceleadership #insuranceagencyowner #insurancesalestraining #insurancetechnology #insurancetraining #runninganinsuranceagency #insurancesales #timemanagement #insuranceagencytraining #insuranceteam #insurancerate

"In this market, we have to shop every one of our Renewals to keep our clients." This is a common phrase in agencies week after week, month after month, and year after year. You can plug in the word "hard" or "soft" before the word market; and the sentence changes very little.

No matter the market condition, agencies still feel this sense of urgency to "shop till they drop," for lack of better words. We are on a mission to change this mindset here at Agency Performance Partners. 

If you have even halfway paid attention to our messaging over the years, you have probably heard us discussing a "proactive retention strategy." You have probably listened to the message that we see the word “busy" as a swear word. You have heard us talking about building rapport and adding value. 

All of these things are crucial to ending the mindset mentioned above.

Train your team to educate clients on the dreaded rate increase conversation: https://www.agencyperformancepartners.com/blog/how-to-lead-your-team-through-insurance-rate-changes/

Get 20% off our RATE INCREASE CONVERSATION Course: https://www.agencyperformancepartners.com/reducing-remarketing/

Complete our form and grab our scripts on how to have the rate increase conversation: https://share.hsforms.com/1-BVw-FYGRSOL7GtS7Arm3g1beus

#insuranceagency #insurance #insurancetraining #salestraining #insurancecoaching #insuranceleadership #insuranceagencyowner #insurancesalestraining #insurancetechnology #insurancetraining #runninganinsuranceagency #insurancesales #timemanagement #insuranceagencytraining #insuranceteam #insurancerate

To handle an insurance rate increase, we must first start by taking back control of the call. The best way is to have  Insurance Rate Increase Scripts. Remember, when clients have rate frustrations, it’s not personal. In fact, they most likely don’t even really know you well enough to make it personal! Oftentimes, they have told themselves a story for a while about how unfair their insurance rate is. We need to start by taking control of the call. Instead of being fearful about rates, lean into that conversation. Remember, they are coming to you because you have the tools to help them. 

Here are a few things everyone needs to remember:

1. Rates will increase naturally every year. We need to be prepared.

2. Rate increases come from the carrier as well as the client.

3. We need to take our time to review the account rather than get trapped in the rate game.

4. Your best strategy is to run into a rate increase, not away from it.

Grab these 5 SCRIPTS to gain confidence in having the rate increase conversation with clients: https://www.agencyperformancepartners.com/blog/insurance-rate-increase-scripts-for-independent-insurance-agents/

Get 20% off our RATE INCREASE CONVERSATION Course: https://www.agencyperformancepartners.com/reducing-remarketing/

Complete our form and grab our scripts on how to have the rate increase conversation: https://share.hsforms.com/1-BVw-FYGRSOL7GtS7Arm3g1beus

#insuranceagency #insurance #insurancetraining #salestraining #insurancecoaching #insuranceleadership #insuranceagencyowner #insurancesalestraining #insurancetechnology #insurancetraining #runninganinsuranceagency #insurancesales #timemanagement #insuranceagencytraining

As many of us have learned by now insurance rates are continuing to increase. Whether it is due to the increased cost of raw materials, labor shortages, severity of losses, new technology, or mother nature, insurance rates are on the rise across the country. 

One of the most common calls that we receive is “How do I help my team keep clients happy without remarketing every account”. We know that customers can be frustrated by increasing rates when they don’t have any claims, their vehicle is getting older, or in commercial lines when rates go up as the business grows. In our experience, frontline team members often lack confidence in discussing rate increases and lean specifically on remarketing strategies that are time-consuming and create a perpetual focus on price rather than value. 

This causes a revolving door of rewrites year after year. Unfortunately, one remarket/rewrite for a client causes them the false belief it can be rewritten every 6 months-year.  What if instead, we focused our training efforts on building the team members into confident agents that are ready to face the conversation head-on? Role-playing with scripts can seem a little uncomfortable at first, but once you get used to having these types of conversations, they become much easier.

Grab these 5 SCRIPTS to gain confidence in having the rate increase conversation with clients: https://www.agencyperformancepartners.com/blog/insurance-rate-increase-scripts-for-independent-insurance-agents/

Get 20% off our RATE INCREASE CONVERSATION Course: https://www.agencyperformancepartners.com/reducing-remarketing/

Complete our form and grab our scripts on how to have the rate increase conversation: https://share.hsforms.com/1-BVw-FYGRSOL7GtS7Arm3g1beus

#insuranceagency #insurance #insurancetraining #salestraining #insurancecoaching #insuranceleadership #insuranceagencyowner #insurancesalestraining #insurancetechnology #insurancetraining #runninganinsuranceagency #insurancesales #timemanagement #insuranceagencytraining