Insurance Agent Retention Rates

/Insurance Agent Retention Rates
Insurance Agent Retention Rates 2018-10-03T19:38:37+00:00

The Verdict is IN and the more you reach out to your client, the higher retention rate for your agency

We have been to hundreds of insurance agent conferences over the years and many times we field the same question: “Should we reach out to our clients, and if so how many times?”

Our philosophy is the more the better! Don’t believe us, we will let the data speak for itself:

Travelers Case Study Concerning Retention

  • Tested participating retention program agencies vs. non participating
  • Survey also showed 52% of buyers considered themselves relationship buyers and majority wanted to be contacted multiple times with an option for an annual review.
  • Participating agencies had on average 3-5% higher retention rates

 

Lexis Nexis Carrier Case Study

  • Using a passive and personal touch retention program, a P&C carrier was able to increase retention by 9-16%
  • Prevented well over $2MM in lost premiums

 

MetLife Life Agency Case Study

  • Launched Multipart retention campaign for agencies highlighting the agency and products
  • Saw a lift in retention 3 percentage points above the national average

 

Real Results  has built the best in class personal lines engagement tool  that is an easy set-it-and-forget it program for insurance agents. Seriously, 2 hours of work on the front end will set you up for the whole year! Sign up for a 10 minute demo and let us show you how we make you more money.

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How much revenue would a 3-5% higher retention mean to your agency. Check it out now with our agency revenue quiz.