Client Retention
Insurance Agency Client Retention: How to Keep Policies on the Books
Acquisition gets all the attention. Retention is where the money is. Here is how top insurance agencies keep their book of business intact.
The Retention Problem in Life Insurance
First-year lapse rates for final expense policies run between 20 and 30 percent at many carriers. The three primary drivers of lapse are financial stress, dissatisfaction with the product or service, and competitive replacement. The annual review is the most powerful retention tool available — it demonstrates ongoing value, identifies coverage improvement opportunities, and generates referrals at the moment of highest client satisfaction.