The saying "just because nobody complains doesn't mean that all parachutes are perfect" can be applied to insurance. For example, you may, unbeknownst to you, have policyholders who are unhappy with their coverage, rates, billing mode and claim experience. (Credit: Rawpixel.com/Shutterstock)
A successful insurance agent knows that after a policy is written the work is far from over. Once new business is on the books, it's important to ensure that it stays there come renewal time and, hopefully, for many years to come. After all, retention is how an insurance agency grows.
A survey by Collinson shows that only 46% of respondents regularly hear from their insurance provider during the year, with 39% missing out on receiving relevant product information and recommendations. The survey also showed that consumer openness for communication is conditional, with policyholders expecting the content they receive to be personalized and based on their individual needs and interests, as well as presenting them with key benefits. In fact, 50% of respondents said they would view their agent more positively if he or she offered information as well as products and benefits that were relevant to them in addition to core insurance product offerings.
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