Every conversation I have had with fellow insurance professionals for the past year has revolved around the same things: we are frustrated with our inability to help our clients hit a premium that fits within their tightening budgets, and we are tired of having the same conversations on repeat. This frustration does not always translate well in our conversations with customers. Instead of sounding empathetic, we can come across as annoyed or bothered by their concerns. We can all recite a multitude of reasons why rates are increasing and the market isn’t all that wallet–friendly right now, but what can we do to retain customers and help them through this hard market? Right now, focusing on both staff and client satisfaction is key to retaining customers and keeping your premiums on the rise.
Team Morale = Team Success
We all know the saying, “a happy wife is a happy life.” Let’s just tweak that a bit to fit in the scope of insurance: “a happy team means you’re in the green.” Whether you are in a small office or a large multi-location agency, keeping your staff happy and motivated is the number one thing you can do to boost productivity and client satisfaction. It’s human nature; if the team is content,their conversations with clients are going to be positive, and any conversation a client can walk away from feeling good about is a great step toward keeping that client long term.
Where the budget allows, implementing staff perks has been a game changer for our team. We routinely take polls and keep our favorite snacks, coffee, and tea options in stock at the office. We also try to coordinate a quarterly team event, be it happy hour (my personal fave), a local sporting event, or dinner; it’s great to come together as a team outside of the office to build on our relationships and have a little fun. This also helps to open the lines of communication between staff and management. If a team member is comfortable enough to bring attention to their concerns, be it upset clients, lack of training, or overall frustrations, we can nip those in the bud before they fester into bigger concerns for the agency as a whole.
Train Staff for the Tough Conversations
With the amount of renewal rate increases and narrowing underwriting guidelines it may seem like not only clients, but companies too, are out to get you. We are all worn out and ready for the market to stabilize, but remember that as an insurance agent, you are the middleman. Everyone is coming to you for answers, and unfortunately right now we are having to relay news that no one wants to hear or accept. You can’t control how the client reacts, but you can control your reaction and how you handle the situation. Clients just want to feel heard; train your staff to coach them through the hard market rather than brushing them off with the standard “rates are rising for everyone everywhere” script. Here’s an example of how to talk to clients using the “empathize, learn, and resolve” approach.
Before you end these conversations, just be sure they understand their coverages and their policy
Value. Answer their questions with compassion and if you don’t have the answers, make sure they
know you will find out and get back to them promptly. Maintaining open lines of communication
with your clients builds trust and those relationships can be, and usually are, long lasting.
Customer Satisfaction at the Forefront
Putting an emphasis on the client experience is another key step to building lasting client relationships and getting those valued referrals. Ensuring that clients have no trouble contacting the agency with questions or service needs will do wonders in making them feel heard and respected. Having text, email, live chat, and call options are the standard in many industries now, so it only makes sense for insurance agencies to adopt those same practices. If your clients can get ahold of you and get a response quickly, they are far more likely to tell their friends to call you when they complain about long hold times or dissatisfaction with customer service from their insurance companies.
Luckily enough, HawkSoft makes it easy and partners with many new and evolving companies that can help you integrate new technology into your agency’s day to day! To name a few, companies like Canopy Connect (who make it quick, secure, and shockingly easy to gather client information for quotes) or InsuredMine (who can give you detailed insights into your agencies production and goals) will help you stand out against other agencies in your area. Okay done with the shameless plug…
Developing your agency’s renewal process, so that you’re reaching out to customers that have taken a large rate increase or cross–selling to those missing out on multi-policy discounts before they reach out to you takes little effort, but the value it provides your clients is immense. Everyone has clients that are shopping their policies, but even if your rates are coming in slightly higher, the value add of being proactive and educating your clients may be enough to convince them to stick it out with you.
In sum, we are all feeling the effects of this hard market. As long as we remain vigilant inensuring our clients and our staff members feel valued and heard, we will come out on the otherside soon enough, and hopefully have stronger relationships with both parties to show for it. Keep up the momentum and remember that HawkSoft has a network of companies and other agencies that are here to support and assist wherever we can!
Author
Caity Zubler
Trovato Associates
Rochester, NY
