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 […]
Read More
When it comes to increasing insurance revenues, make sure you pick the “lowest hanging fruit” first. The perfect opportunity exists to cross-sell or up-sell your present customers. All you need to do is implement a tactic called account rounding. What is account rounding? It’s one of the most effective, but underutilized sales and marketing tactics […]
Read More
Last year I wrote about the importance of Account Rounding to increase insurance revenues. Since then we have continued to refine the idea of account rounding and we’ve learned valuable information regarding how you can best use account rounding to help build your book of business. To help you understand how this tactic can work […]
Read More
How much is a single customer worth to you? Is retention as important as generating new leads? To answer these questions you need to consider the lifetime value of your clients. To determine Customer Lifetime Value means to calculate how much profit you can expect from a single client over their lifetime. Granted, there is […]
Read More
To build Customers for Life, you need to start by creating Marketing Personas. The why? The how and some action steps. In short, it’s really all about the data – how you collect it, analyze it and use it. What exactly is a Marketing Persona? Think of it as a semi-fictional representation of your primary […]
Read More
According to an industry study by Deloitte, in the United States, the world’s biggest insurance market, the property and casualty (P&C) sector is building upon a strong 2018 in which the industry saw net income soar 66 percent to US$60 billion, thanks to a 10.8 percent boost in net premiums written and nearly breaking even […]
Read More
Competition within the insurance industry is fierce. There are over 150 different general insurance companies listed by Wikipedia. Each of those companies employs tens of thousands independent agents. Allstate, alone, lists over 15,000 agents. So, how do you stand out from the crowd? The best way to set yourself apart is to determine your value […]
Read More
I spent the ‘90’s as a business consultant serving small to medium sized businesses in North America. During that time I collaborated with insurance business owners and leaders to develop business plans and presentations, countless times. Sometimes, I was also responsible for scouting for funds, business partners, new clients, and more. During my consulting years […]
Read More