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Why should you do 

Customer Insurance Reviews?

1.7
72%
$80,000
opportunities
more business
more commission
Are uncovered for each Customer Insurance Review with a customer
Is written by agents who regularly meet with their customers.
For agents who meet with at least 20 customers each month for a year.

AGENCY GROWTH, VALUE, AND PROFITABILITY

As an insurance agent, there are generally three goals that you have for your agency: growing revenue, building agency value, and increasing profitability.  The very best way to accomplish this is by regularly doing Customer Insurance Reviews.  Doing so will:

Increase Customer Retention

Identify Cross-sell Opportunities

Allow you to ask for referrals

HOW DOES RETENTION HELP YOUR AGENCY?

IIABA lists customer retention as the single most important factor in determing an agency's value.
It costs 7-9 times more for an agency to attract a new customer than to retain one.
A 5% improvement in customer retention can double profits in five years.
Reducing cancellations by 2% is equivalent to cutting costs by more than 10%.

HOW DOES CROSS-SELLING HELP YOUR AGENCY?

Cross-sell leads have an 85% close rate vs. internet leads that have a 5% close rate.
For every 2 additional policies written for a customer, their probability of cancelling drops by 50%.

HOW DO REFERRALS HELP YOUR AGENCY?

A referred customer generates an average of 5X more revenue than a non-referred customer.
Referred customers have the lowest acquisition costs of any lead type.
A referred customer has an average of 92% retention rate over the first three years vs. a 67% rate for a customer from any other marketing source.
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