When I first started my agency, new business was a high priority. After some years in the business, I found I was losing clients much too often. Although acquiring new business is always important, I decided that retention had to move up to the top of my priority list. I found that doing both well involved changes in my office, CSRs and producers. Change was not easy, but once in place, worked very well.
Related: Read "Retention versus new business: What works?"
I was recently speaking with a vice president of an insurance company that actively runs television ads. We discussed how an objective of the company's advertising was to make sales via the ad. The company wanted to make viewers who saw the ad want to buy. In her words, the ad was a "call to action." The insurer was trying to open the door for the sale, but had no one to walk through and make the sale. This carrier is spending huge amounts of money on new business while retention rates are brutal. Does this sound familiar?
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
