How Customer Insurance Reviews Elevate Your Agency

Updated: Mar 29

What is a Customer Insurance Review?

You may already be familiar with customer insurance reviews, or you may call them by a different name (policy review, IFRs, FFR’s, PPR’s, Simple Conversations, etc.).

In these reviews, you meet annually with existing clients to review their coverage and needs.

You discuss any life changes that may have recently taken place in your client’s life.

Did they move, have a baby, sell a car?

Do they need more or less coverage on an already-insured vehicle or a life policy?

Young couple meets with insurance agent for annual customer insurance review

When conducted properly, these meetings provide you with the perfect environment to cross-sell policies, obtain referrals, and develop a lasting relationship with your customers.

You can accomplish your goals as an insurance agent through these simple meetings.

What will an effective customer insurance review program do for my agency?

Your natural inclination when you think about building your agency might be to wonder, “How can I find new sales?”.

After all, new sales lead to revenue and growth.

While that’s true, a leaky bucket is difficult to fill up.

By focusing too intently on acquisition, you may find that your existing clients are leaking out of the bottom of your figurative bucket.

New customers will really begin to make a difference as you focus your efforts to stop the leaking.

Implementing a customer review program is the best way to prevent the leaking.

Increased Retention

When you meet with your customers on a regular basis to find ways to protect them from lack of coverage or even save them money with new discounts, it helps you build a strong personal relationship that helps them feel secure and that you are taking care of them.

You will become a trusted advisor and build a long-term relationship.

These emotions and experiences will lead to improved client retention.

Cross-Selling/Multi-Lining Opportunities

You may also find that your customers’ needs are not met by their current coverage.

Maybe their lives have outgrown their current policies.

These meetings are perfect for identifying opportunities to turn a mono-lined customer into a multi-lined customer.

But remember, you don’t want to sell to them DURING THE MEETING.

(read more about when to sell to your customers in this blog post: Why You Shouldn't Sell During a Customer Insurance Review Meeting)


You can use these meetings as an opportunity to ask for referrals.

When you’re talking about life changes it might be natural to ask about a family member or friend.

If you’ve built a proper relationship, people will be happy to give you referrals.

Infographic illustrating benefits of customer insurance reviews for your insurance agency

What will an effective Customer Insurance Review Program do for my customers?

Not only are Customer Insurance Reviews a tool for you to improve your agency, they’re also of great value to your customers.

Confidence & Peace of Mind

Happy family sitting together with confidence and peace of mind

As mentioned before, taking care of your customers establishes you as a trusted advisor.

This gives your customers a sense of confidence and peace of mind knowing that you are looking out for their best interest.

You’re not just an insurance salesperson.

You’re really looking out for them.

Potential Discounts

Your customer can provide you with information that will allow them to receive discounts.

Maybe these don’t come up all the time but when they do it’s pretty exciting.

Who doesn’t love discounts?

Adequate Coverage

Most importantly, reviewing policies resolves potential gaps or overlaps in coverage which can avoid potential disasters.

Consider this example:

A family who enjoyed boating on Lake Powell in Southern Utah decided to purchase a house boat.

Shortly after purchasing the boat, the family took out a policy to cover it in case of an accident.

As the years went by, significant renovations were made to the boat.

It was fitted with accessories that improved its value by tens of thousands of dollars.

However, they didn’t think about the fact that their insurance policy covered the boat as it was purchased years earlier, not covering the full updated value.

One day, the family loaned their boat to some vacationers at the lake.

Those borrowing the boat hit and rock and sunk it.

After speaking with their insurance agent, the family discovered that for a minimal increase to premiums, they could have covered the updated value of the boat and would have saved tens of thousands of dollars.

This is an extreme example, but the concept is clear: through consistent customer insurance reviews, clients can be made aware of gaps in their coverage and avoid sad stories like this one.

"Through consistent customer insurance reviews, clients can be made aware of gaps in their coverage and avoid sad stories like this one."

Infographic illustrating benefits of customer insurance reviews for your customers

Why don’t all agencies implement a consistent customer insurance review program?

If customer insurance reviews are so great, why doesn’t everyone already do them?

There are many reasons.

Lack of Know-How

First of all, many agents simply don’t know how to do it.

That’s one of the reasons we produce content like this: to help agents be as effective as possible.

We've spent more than a decade working closely with thousands of insurance agents and have gathered insights and data about what makes them successful.

We've also created tools to correspond with the insights we have gathered.

To help agents succeed, we want to share our tools and information, including the training needed to implement this program.

Insurance agency staff discusses how to implement a successful customer insurance review program

Many agents do not implement a customer insurance review program because the specifics of doing so may not be clear.

What do you do to prepare for a meeting?

What do you actually say to your customers?

How do you sell new policies once the customer has left the office?

If this rings true for your agency at all, check out our FREE AgencyThrive program.

We've compiled videos and resources to teach you how to implement a successful Customer Insurance Review program in your agency.

Lack of Resources

Second, agencies often lack the internal resources to set the number of appointments necessary for a successful program.

Even once the staff has the skills necessary to conduct reviews, it is still difficult to set appointments and get a high volume of customers to come in with a consistent flow.

Focusing Elsewhere

Third, agencies are often focusing on low-quality cold leads.

They don’t understand the value in retention, referrals, and cross-selling, so they focus on acquisition.

In Conclusion...

A customer insurance review program creates slow, consistent, long-term growth over time.

To make the most of a customer insurance review program, continue visiting our content to get tips and instruction to guide you along the way.

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