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The Surprising ROI of Meeting with Your Current Clients

Calculating the ROI of your many agency functions isn’t always as easy as plugging in a few numbers.


For example, in my own marketing efforts, I’m constantly faced with the reality that it takes multiple instances of exposure (or touchpoints) to a company before a potential lead will take any action.


This makes it difficult to pinpoint precisely which marketing channels and methods are most effective. We can usually see what approach they took action on. Still, we don’t know how many times (and what other types) of exposure they had to our company previously that could have influenced them to finally inquire for more information.



Does this sound like something you’ve experienced in your marketing efforts?



Insurance agent calculates ROI of meeting with his current clients.


Many agents we’ve spoken to have similar ideas about regularly meeting with their customers to review their policies (about once every 1 - 2 years).


The retention aspect can be hard to measure, as it’s similar to the marketing scenario I mentioned above. Many variables influence retention rates, and it isn’t easy to pinpoint just one thing.


Fortunately, though, it’s not difficult to calculate the ROI of customer insurance reviews when it comes to cross-selling and up-selling your current customers.


To calculate the ROI of your customer insurance reviews, you first need to look at the investment, or the cost, of meeting with your customers.


We’ll show you how to calculate the cost of both in-house and outsourced appointment-setting before calculating the return.




In-House Appointment Scheduling


*DISCLAIMER: The exact numbers used in this blog post will likely differ from your agency’s. We’re using averages from our 15+ years of experience in the industry to give you an idea of what it can look like for you.



Let’s say you’d like to hold 20 customer insurance review appointments each month. Scheduling 20 appointments in-house will take roughly 260 calls.


260 Calls = 20 Appointments



Assuming your team member makes 5 calls per hour every shift(along with whatever else they have on their plate), the number of hours needed to sustain 20 appointments would be 52 each month.


260 Calls / 5 Calls per Hour = 52 hours



If you pay this team member $20 an hour, those 52 hours each month would cost you $1,040.


52 hours x $20 per hour = $1,040 per month to get 20 appointments




Each year, you’d be spending $12,480 to keep 20 monthly appointments on your calendar, plus the hours of reminder/confirmation calls that we haven’t included here.


$1,040 x 12 months = $12,480 Annual Cost for In-House Appointment-Setting



In these calculations, we haven’t even considered any potential benefit plans your team member(s) may be on, PTO, sick days, etc.



insurance agent and team member prepare for client meetings.


Outsourced Appointment Scheduling


The cost to outsource your appointment setting to Engagex varies depending on your carrier and any subsidy/cost-sharing they might provide.


That said, most agents on service with Engagex spend less than $300 a month for a 20 Guaranteed Appointments package. So we’ll run our calculations with that in mind.


(FYI: Agents who receive the most cost-sharing % from their carrier pay only $260 a month for 20 appointments.)



Paying Engagex to set 20 appointments for you each month at $300 would come out to roughly $3,600 each year.


Unlike the in-house appointment-setting calculations, that $3,600 annually would include all reminder/confirmation calls, rescheduling, and even no-show replacements (up to 3 per month).



Estimated Yearly Costs:


In-House appointment Setting ≈ $12,480+


Outsourced Appointment Setting (Engagex) ≈ $3,600





Calculating ROI of Customer Insurance Reviews


*Another Disclaimer: we’re well aware that these calculations are estimates - plugging your numbers into the equation is the only way for you to calculate your actual ROI.



Whether you set appointments in-house or outsource to Engagex, you’ll calculate your ROI of these meetings similarly.


(Net Gain / Cost of Investment) x 100 = ROI %



The average life premium ≈ $853/year or $71/month



Now let’s say you have a 75% show rate for the 20 appointments set each month.


20 Appointments x .75 show rate = 15 Appointments



If you have a 50% close rate of those 15 appointments, you will close ≈ 7 per month.



7 x $853 = $5,971 per month x 12 months = $71,652 yearly premium from simply meeting with your customers regularly.




25% commission on $71,652 = $17,913 a year




In-house Appointment Setting Annual ROI: 43.5%


$17,913 - $12,480 = $5,433 Gain


5,433 / 12,480 = 43.5% ROI



Engagex Appointment Setting Annual ROI: 397.6%


$17,913 - $3,600 = $14,313 Gain


14,313 / 3,600 = 397.6% ROI



insurance team reviews ROI


We’ve often heard from our customers that the return on just one life app from these customer appointments makes it a no-brainer to outsource to Engagex.


Ultimately though, whether you set appointments in-house or outsource to Engagex, it’s apparent that meeting with your customers is worth the investment.


(Remember - These calculations don’t consider increased revenue from simply retaining your customers!!)




If you’re not yet prioritizing regular policy reviews with your clients, it’s not too late to start.


Start today. Thank yourself tomorrow.





Still trying to figure out where to start?


Check out our FREE AgencyThrive Program.


The AgencyThrive Program is a series of free videos and resources to help train agencies to drive more revenue from their best source of new business - their current customers.


By signing up for the AgencyThrive program, you will:


  • Learn the best practices of high-performing agents

  • Have unlimited, lifetime access to the AgencyThrive training series (videos + worksheets)

  • Receive weekly tips on how to conduct great reviews

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