9 Reasons You’re Not Closing Sales from Your Annual Insurance Review Appointments

We’ve heard from insurance agents, time and time again, that the main reason they don’t regularly meet with their customers for annual reviews is because they don’t get many sales from the appointments.

Today, we’re breaking down 9 different reasons agents don’t get the sales they want, and what they can do differently to close more sales from their customer insurance review program.

Reason #1 - Your clients haven’t been adequately prepared for the appointment

Even if you’ve been regularly holding review appointments with your customers, many of them aren’t familiar with the idea of meeting with you to review their policies.

Fortunately, there are some simple things you can do to prepare them for the meeting!

Needs Assessment Form

If you’re not using a Needs Assessment form (or something like it), you’re missing out on some real opportunities!

Insurance customer fills out needs assessment form before appointment with insurance agent.

The Needs Assessment form is a simple questionnaire about the risks your clients face compared to the coverage they currently have.

It also helps to identify your client’s long term goals, top concerns, and any life changes that have recently taken place.

Ideally, your customer should complete it before the review meeting (or at the beginning of the meeting if they’re not able to do it beforehand.)

Filling out the form gets your clients into the right mindset for the meeting.

This way, you don’t have to tell them what their needs are, they’re already starting to identify them themselves.

Download your FREE Needs Assessment Form PDF here:

Needs Assessment Worksheet-V2
Download PDF • 156KB

Set Expectations with New Clients

When onboarding a new client, simply let them know that you’ll reach out periodically (once a year or so) to schedule a review appointment.

Explain the benefits and value of the review meeting:

  • Checking for gaps and overlaps in coverage

  • Making sure coverage is up to date with life changes

  • Answering any questions they have

  • Checking for possible discounts and bundling options

Educate Your Clients About Review Appointments

Just as you give your new clients a heads up about the review appointments, you’ll need to let your current clients know the benefits and value as well.

This can be done easily through email newsletters, social media posts, direct mail/postcards, etc.

You can also send emails to the customers you’ll be calling within the next month or so to give them a heads up that it’s that time again.

Then, when you call to schedule, they’ll already be warmed up to the idea which makes setting the appointment that much easier.

Reason #2 - You’re not properly prepared for the appointment

Your clients can tell when you’re winging it - no matter how good at it you think you are.

If they don’t feel like you’ve prepared for the appointment, trust can be lost very quickly.

Insurance agent prepares for a client meeting by reviewing their current coverage.

They’re taking time out of their busy lives to meet with you, and if it doesn’t end up being worth their time, their chances of coming in for a future review are sparse.

Before the meeting, make sure you review the working file you have for your client.

  • What are their current coverages?

  • Have they had any recent claims?

  • What have you previously discussed in past phone calls or appointments?

  • What other products might be beneficial to them?

  • Are you missing any contact information? (The meeting is a great time to update that.)

Being prepared for the meeting will give you more opportunities to sell more policies.

Reason #3 - You’re not targeting the right customers

It’s important that you offer a review to each of your customers every year or so, but there are definitely customers that prove more profitable to your business than others.

Contacting your customers alphabetically or by birthdate is a great way to make sure you reach out to everyone.

Another way you can target your customers more specifically is by customer segmentation.

Lynn Thomas goes into detail of how to segment your customers in this article from The Independent Insurance Agents of Dallas. If you want to learn how to do this, you should read it from her, but I’ll briefly summarize what she says.

Insurance team meets to plan how to target most profitable customers.

Each agency has a customer base that’s made up of different markets (personal lines, commercial, construction, etc.)

Identify your markets and then segment them into “A”, “B”, and “C” customers. “A” customers being the most profitable and “C” being the least.

Recognize that your “A” customers are “the primary source of your agency’s future growth”.

While you’re still aiming to contact all of your customers annually, make sure each month you have a list that consists of category “A” customers, “B” customers, and “C” customers. This way, you’re always in the process of contacting your most profitable customers to keep their business and get in touch with their friends (who are likely to be “A” customers as well).

Read her whole post here: Customer Loyalty And Retention Primer (IIAD)

Reason #4 - You don’t have a consistent process for conducting the meetings

This one could fall into the preparation category, but it’s so important that I thought I’d give it it’s own space on the list.

Following a consistent outline or agenda for each meeting ensures that you don’t miss important opportunities.

This isn’t to say that you should conduct the meetings robotically - each customer is unique and has unique circumstances. Tailor the process to them, but don’t throw the process out entirely.

Make sure that if you have other team members conducting appointments, that you’re all on the same page and run them the same way.

Consistency is key!

In this post, we share a general outline for customer insurance review meetings:
12 Steps for Running an Effective Customer Insurance Review Meeting

Reason #5 - Your clients don’t feel educated enough to make a purchasing decision

As their trusted insurance advisor, you’re there to educate them on their risks and options so they can make a confident decision.

You also might be meeting with the partner who typically doesn’t make big purchasing decisions.

One of our customers told us that since his agency started holding virtual appointments, he has much better success at getting both partners in on the meeting.

Insurance agent sits with young couple to review their risks and coverage options.

This helps to avoid a frustrating game of telephone and ultimately makes the buying process a lot smoother.

That leads us to the next reason you might not be getting enough sales from your review appointments.

Reason #6 - You’re expecting (and pushing) to close the sale during the appointment

The purpose of the review meeting is to investigate and educate your clients.

Contrary to what many agents believe, the meeting is NOT the time to close the sale.

On occasion, your customers will be comfortable and ready to move forward in the meeting, however, as a general rule of thumb, don’t push the sale right away.

Generally speaking, people don’t want to be sold to. However, they do want adequate insurance coverage.

They don’t want you to milk them for their money, but they do want you to take care of them.

Take the time to educate them and even send them home with additional material that will help them in their decision making.

Feel free to check out our Guide to Closing Sales Without Looking Like Just Another Insurance Salesperson.

Reason #7 - You’re not following up

Closing the sale happens during the follow-up process.

If you’ve done your job to educate them during the meeting and sent them home with additional information to look over, you’ll have specific things to follow-up on.

Follow up about a week after the appointment to see if they’ve reviewed the information you sent with them.

Ask if they have questions about it.

Insurance agent calls to follow-up with a client about getting new coverage.

Give them a quote for the specific policy and give a recap of the benefits they’ll receive from it.

This is where new policies will naturally be sold.

Reason #8 - You’re not asking for referrals

..or you’re just asking the same old question: “Do you know anyone who might need insurance you can refer to me?”

Asking for referrals is a science AND an art.

Timing, wording, and asking the right customers are just a few things that play into receiving solid referrals that convert into sales.

We have some helpful tips on asking for referrals here: 7 New Tips for Creating an Agency Culture of Receiving Referrals

Reason #9 - Your main reason for conducting customer insurance reviews is to get more sales

While sales come from customer insurance review meetings, that’s not the whole purpose of the meeting.

Your customers should be the focus and purpose of the meeting - making sure their needs are met and that they are adequately covered.

When I was an appointment setter, one of the most common responses I got from clients was something like this, “I don’t want to come in for a sales pitch.”, or, “Last time I came in, he just tried to sell me a bunch of new insurance!”

Insurance agent meets with his happy customers.

When your main purpose of the review is to sell sell sell, your customers feel it and lose trust in you.

Selling new policies to your customers IS a way you can take care of them! That’s why sales will come from these meetings when you’re focusing on their needs.

Your customers will trust you more, refer more of their friends, and purchase more products from you when they know that you have their best interest at heart.

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