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Power of the Package

Retain business, increase long=term relationships by packaging policies

By Paul Morrissette | Updated on March 31, 2013

Personal lines insurance is a hotly competitive business, as the ubiquity of television commercials will attest. Many independent agents are concerned about retaining their clients, who may respond to an amusing advertisement from a deep-pocketed insurer. Fortunately, there are proven methods for agents and brokers to stand out in the crowded field and acquire greater sales volume and improved customer retention metrics.

By having a single insurer underwrite multiple policies (and umbrella liability, watercraft and other personal lines coverages, too), an agent significantly improves the value proposition for his clients. Aside from significantly lower insurance premiums, dealing with just one carrier is advantageous when it comes to paying bills, filing claims and attending to other policy issues, such as a change in address or the addition of a new driver. This highly streamlined process can alleviate inefficiency and potential errors when a client or an agent has to contact two or more insurance companies.

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