5 tips for Expert-Level Insurance Customer Retention

Why does customer retention matter?

Everyone knows that the real magic of running an insurance agency is in the renewal commissions. But you only receive that revenue if your customers stick around!

You need to have intentional, effective processes to increase your ability to keep customers around for as long as you can. This is not the time or place to be an amateur.

5 tips for expert-level customer retention:

In a recent webinar, Firefly’s customer experience team shared by specific things that they do to improve policy retention. They show you exactly how you can implement each tip.

Watch the whole video, or use the chapter markings to jump to the sections that you’re most interested in:

Here’s what’s covered in the video:

00:00 : 5 things to increase policy retention
02:40 : 1) Insurance customer classification
10:20 : 2) Email campaigns to increase retention
12:10 : 3) Use claims to increase customer loyalty
13:51 : 4) A customer WinBack workflow
15:46 : 5) Connect with customers using Loom videos

We can’t type up the entire video. But below are a few highlights that can help you out. If any of it is helpful, watch the video so you don’t miss out on something.

Insurance customer classification

This is something that most agents have never implemented in their office. That means, it’s an area in which you can stand out!

  • You’ll need to decide on standardized customer labels.
  • Then set them up in your management system. (EZLynx is shown in the video.)
  • Then use them in reports, and to help you prioritize your customers and how you spend your time with them.

This topic probably seems like something you could skip. And you can – but you will miss out on retention that would have helped you grow faster.

Email campaigns to increase retention

In the video, the team shows how they use EZLynx to automatically send certain emails to customers.

Most management systems should be able to do that for you. Whether your system is EZLynx or not, be sure to set up these messages.

Connect with customers using Loom videos

Do you feel intimidated about the idea of recording a video? Or even just don’t know how you would do that – and also send it to a customer?

Be sure to watch the video segment about using Loom. It makes the process very simple for you, and lets you connect with your customers in a new way.

Our team shares what they have learned works – and does not work – when it comes to Loom.

To set up your own Loom account, go here: https://www.loom.com/

Thanks to Jaime Graham and Sandi Baker, who contributed to this article.