Insurance Client Win Backs: The Complete Guide

In a business that runs on renewals it’s key to keep as many clients as possible.  But you can offer the best customer service in the world and still lose clients to cheaper rates.  So what do you do then?   Today I want to share some tips on how to win back those A+ clients after they leave.

Why Do Insurance Clients Cancel?

Typically there are only THREE reasons why a person will leave your agency.

#1 They found a cheaper rate.  This one can definitely be frustrating.  Sometimes there isn’t much you can do to save a client who found a better rate.  The best prevention?  Multi-lining!  Studies have shown that a client with multiple lines of business at one agency are less likely to move their business.

#2 They had a bad claim or bad customer service experience.  This IS in your control to some degree.  You might not be able to change the claim outcome, but you can act as an advocate and take care of your client.  And you control the level and expectation of customer service in your agency.

#3 They moved or sold the property/vehicle being insured.  Once again, nothing you can do here!  You can’t sell insurance if there is nothing to insure.

It’s important to know WHY a client left in the first place so you can improve on the things that you have control over.

Make Notes During The Cancellation Process

You probably already have a plan in place for processing cancellations.  If you aren’t already doing it, start documenting why the client left in your agency management system or CRM.

(Some clients you won’t want to win back!  If they consistently had cancelled policies due to non-payment or were a lot of trouble to deal with, don’t add them to your win back process.)

Next assign a follow up reminder.  When will they be coming up for renewal again?  If they just cancelled their auto, odds are they’ll be renewing in 6 months.  So you’ll want to start reaching out in about 5 months.  Put that follow up date in your system.  (If it’s an annual policy, obviously aim for 11 months.)  If they have multiple lines, go with the 5 month date.

The Win Back Process

Every month, you’ll be working your current win back list.  Using your agency management system, run a list of all the win back follow ups coming up for the current month.  These are people most likely to have a renewal next month.

Now create your 3 step follow up campaign.  I’ve detailed this process here in a previous post, but this is the general idea.

First, you’ll send a postcard in the mail to warm them up.  Your postcard will be asking them to call for a new quote.

Once they’ve had time to receive the card, make a follow up phone call.  Then you can simply ask if they got the card!  And get the quote information over the phone.

If you don’t reach them, you’ll send an email.

These three steps allow you to reach out to people in multiple ways at multiple times.  When you create a regular system, then you’ll always be running these follow ups each month.  You’ll plan them out in bulk throughout the month and allow your team to process them.

So what do you say on the postcard?  Just tell your client that you miss them!  You know they are coming up for renewal soon and you’d love another chance to quote their policies.  (Don’t forget to mention if you have new rates or discounts available!)

Secret Weapon

Want to really amp up this process?  Use Facebook Ads to target your win backs!  Facebook allows you to upload a CSV file of email addresses so you can target ads to only the people on the list!

You could easily upload your win back emails and target ads to those people all month long, urging them to call for a new quote.  When people are hearing from you via mail, phone, email, PLUS Facebook…they are truly seeing you everywhere!  Do you think their current agent is working this hard to keep their business?  Probably not.

Let Us Help

Ready to start using Facebook to connect with current clients, improve retention, and win back previous clients?  Learn about our social media marketing services here or give us a call at (501)547-8107  to get started.  

 

 

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About The Author

Robyn Sharp

Robyn Sharp is an insurance marketing expert (and former agency owner). She specializes in Facebook content creation & marketing for P&C insurance agencies. Robyn has been a featured contributor to Exclusive Focus, PropertyCasualty360, IndependentAgent, and other insurance publications.