The simple answer is … staying in contact with current policyholders.
I recently attended the Insurance Summit in Kansas City in May, 2017, sponsored by the NAIC and NIPR. One hot topic was “the Age of Technology and how it affects the insurance industry.” One session that spoke to me was how producers find leads. In many cases, producers no longer visit prospective insureds in their homes. Millennials, baby boomers, and any age in between want to buy insurance when “they” want it. They don’t want to wait for producers schedule appointments only to wait days or weeks, then invite them to their home for them to stay for hours. Producers also have better things to do with their time than sit for hours.
An article on the Internet about marketing ideas for insurance agents from OutboundEngine said the “insurance business is still about building and maintaining solid relationships and providing value to policyholders.”
They also mentioned that 50% of millennials, or 92 million people born between 1980 and 2000, turn to friends and family for referrals. Hmmm, did they say “referrals?” That could occur when providing value to the policyholder and maintaining relationships.
With today’s social-media dependency to communicate using Facebook, only 25% of producers have Facebook accounts. Worse yet, they still advertise in the yellow pages of telephone books. I didn’t even know phone books existed today.
What if producers could reach out to their existing policyholders at whatever interval they deem appropriate, to stay in communication for example, to
ask if they’re interested in buying additional products or upselling on current (adding a rider perhaps)
simply say Happy Anniversary or Happy Birthday
obtain referrals from friends and family
VUE Software has a Producer Portal that provides General Information, Insured, and Agent data for each policy displayed in the Producer’s Book of Business. The policyholder’s email address would be included, making it immediately accessible to reach out to the insured at that moment. Documents can be created in Document Manager, using various criteria.