"Warm Renewal" Process
“The system has certainly delivered immediate results to our business. We
have seen a marked improvement in our retention as we are able to monitor
requests for cancellations and improve on outgoing renewal calls. The TEIG
automated voice recording minimizes the need for confirmation letters, which
reduces the cost of mailing and staff time doing repetitive task. We estimate
the system will pay for itself within 6 months.”
Contract renewals are the lifeblood of most insurance agencies and every agency
has established procedures for notifying clients when their policies are due to
expire and how to renew them. The 60 to 90-day lead up period to the renewal
date is when the agency is most at risk of losing the client. blueButler can
help your staff ensure that more clients renew their policies by emphasizing the
“personal touch” service that you provide during the critical renewal period.
The recommended practice in blueButler includes the following processes.
blueButler affords the opportunity to fully automate the lead generation process
by addressing all key aspects of the process including:
- Management’s ability to set and measure individual and group performance
against weekly or monthly lead targets using scheduled Lead Summary Reports
- Pop-up campaign reminders and suggestions that help CSRs identify leads
- Simplified click-to-tag lead identification and notes (with link to recorded
call with client) that minimize the effort required to identify and forward a
- Scheduled daily Lead Reports that are automatically emailed to Sales Management
for review where actual conversations can be played back to evaluate and
prioritize each lead
The recommended practice in blueButler for automating lead
Train staff on how to sell value and benefits and not features using the Sales
Training material included in blueButler. In particular, focus on which options
they should review with each client to help them understand that insurance isn’t
a commodity product but rather one that is tailored to their needs.
Client Renewal Calls
CSRs should call each client and review any changes that may have occurred since
the policy was issued to show the “personal touch” that you offer. The call
should happen as early as possible in the renewal period. Try to avoid using
voicemail exchanges to convey information; if possible have a conversation with
the client at a time that is convenient for them in order to establish rapport
and a personal connection with your agency. During the client call, use
blueButler pop-up reminders and suggestions to help CSRs identify client needs
and focus the conversation on the most popular policy options.
It may not be possible to call every client prior to their renewal date. In those
cases, identify the policies that are deemed most at risk and build your renewal
campaign around them. As time permits, extend the procedure to other client
Use Audio Signatures to Secure the Renewal
Whenever possible, use the audio signature script to capture the client’s consent
to renew. This should be done whether or not a carrier accepts an audio
signature. Using this process will cause most clients to conclude that their
insurance is taken care of for another year so that they don’t have to spend
additional time on it. The Consent Script, tags the recording making it easy to
locate in the database. Audio Signature recordings should be linked to an
activity record in your AMS/BMS system to comply with your insurance carrier’s
IMPORTANT – clients who decline the audio signature are potentially at risk of
not renewing with your agency. CSRs should tag these call as an at-risk renewal
and have the Producer follow up to address any concerns.
To boost performance and encourage peer-to-peer training, implement
call-of-the-week campaigns where CSRs identify calls where they encountered
difficulties or were successful in overcoming objections. Review these calls and
share the best calls with the team at regular staff meetings to enforce a
culture of continuous performance enhancement and best practices.
CSRs can simply Bookmark calls that they would like to review in the database.
Managers then use the Bookmark filter to identify these calls and can further
segment these calls using additional database fields.