The services that you suggest we eliminate could be a valuable source for growing your book if done properly. Every time you send out your “renewal letter” or when a client calls in to be serviced is a great opportunity to tell them about a new product or endorsement or to round out their account or to (God forbid)”ASK THEM FOR A REFERRAL”!!!!
Since when did the personal relationship with an agent become unimportant? I am a consumer, albeit a small one, and I have stuck with the same agency for several years becaue I know that I can count on them. Not because another company offers to save me a few dollars. The agent does still make a difference. I disagre with the premise of this article.
Alan may be a little harsh when he suggests actually reducing services but he is on the right track when he suggests finding alternative ways to deliver reviews and to communicate various changes to clients.
The fact is, there is a cost to service delivery and most agencies perform an implicit account value and profit calculation when they do not perform annual reviews for personal lines or small commercial accounts.
There is a business development (growth)payoff to performing those reviews. But too many agencies are stuck thinking they have to hire and train a new employee before they can expand services like reviews to smaller accounts.
The right answer is find inexpensive and easily managed channels for delivering the reviews or update services. And as Alan’s article points out, the logical (and maybe the only way) to do that is via email and the web.
Clients don’t necessarily need to be forced to do business this way. Our experience as a company dealing in this area is that, given a choice, many customers will happily adapt to the convenience and always-on capability of web service tools and options.
The services that you suggest we eliminate could be a valuable source for growing your book if done properly. Every time you send out your “renewal letter” or when a client calls in to be serviced is a great opportunity to tell them about a new product or endorsement or to round out their account or to (God forbid)”ASK THEM FOR A REFERRAL”!!!!
Since when did the personal relationship with an agent become unimportant? I am a consumer, albeit a small one, and I have stuck with the same agency for several years becaue I know that I can count on them. Not because another company offers to save me a few dollars. The agent does still make a difference. I disagre with the premise of this article.
Jo Ellen POwers
Alan may be a little harsh when he suggests actually reducing services but he is on the right track when he suggests finding alternative ways to deliver reviews and to communicate various changes to clients.
The fact is, there is a cost to service delivery and most agencies perform an implicit account value and profit calculation when they do not perform annual reviews for personal lines or small commercial accounts.
There is a business development (growth)payoff to performing those reviews. But too many agencies are stuck thinking they have to hire and train a new employee before they can expand services like reviews to smaller accounts.
The right answer is find inexpensive and easily managed channels for delivering the reviews or update services. And as Alan’s article points out, the logical (and maybe the only way) to do that is via email and the web.
Clients don’t necessarily need to be forced to do business this way. Our experience as a company dealing in this area is that, given a choice, many customers will happily adapt to the convenience and always-on capability of web service tools and options.
My agent Fidelity Insurance (
http://www.fidelityinsgroup.com
) sent me a web based Annual Review it was simple to use and and very quick to fill out.