Headshot of Julian Aston, President of intouch
Dear Valued Customer,

Account Rounding is the focus of this eNewsletter.

According to a Deloitte study, 60% of insurance consumers feel like their insurance agents don't offer any value after the initial policy purchase. But the more policies one customer has the longer their lifetime value. In fact, the average consumer has four insurance policies, while the average Independent Agency writes only 1.3 policies per client.

The bottom line? You’re leaving both money and customer longevity on the table! Please read on for some important background. Information vital to your immediate and future growth.

Yours in touch,

Julian Aston
President
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Account Rounding: The Best Growth Strategy For Your Agency?

Account Rounding: The Best Growth Strategy For Your Agency?
According to a Deloitte study, 60% of insurance consumers feel like their insurance agents don't offer any value after the initial policy purchase.

...but the average Independent Agency writes only 1.3 policies per client.

On average, single-policy accounts stay with an agency for only three years.

...but change that to two policies and they stick around for seven years.

Accounts with three policies last an average of 11 years.

...but when you know that the average consumer has four insurance policies, and the average Independent Agency writes only 1.3 policies per client, you know you’re leaving both money and customer longevity on the table!

How to change that scenario? Implement an account rounding strategy in your agency. It’s a sales and marketing tactic you can’t be without.

Why? Because it’s your best equity building strategy. It’s also the most cost effective. Look at the alternatives:

  1. Add customers by bringing on new “books of business” by acquiring another broker. This is costly, time consuming and can be hit and miss.
  2. Add Producers to your sales team. What with recruitment costs (and challenges), plus training time, this is also a costly and hit and miss endeavor.
  3. Acquire new customers using various marketing tactics like search and social media marketing. While the lifetime value may be there, the cost of acquisition can be high.
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