Personal Lines – Renewal and Cross Sell Processes

Goals:

1.Increase customer loyalty

2.Strengthen our position as their personal risk manager

3.Prove our commitment to our 4 promises:

1.Provide products and services focused on protecting our clients’ assets and financial well being. 

2.Ensure that our clients understand the products and services they are buying.

3.Pair our clients with products that fit their security and financial needs.

4.Use our access to many insurance companies to keep these promises.  

4.Earn extra income for team players

1.New business commission split

2.As the book grows, renewal commission will grow, and so does your income. 

Process:

1.Review list of potential clients for cross-sell opportunities

1.Home no auto

1.Target Policy is personal auto

2.Auto no home

1.Target Policy is homeowners, condo, mobile home, renters

3.Both lines but no Umbrella

1.Target Policy is Umbrella

4.Home no flood

1.Target Policy is Flood

2.Check all account other than Kayla

3.Review accounts from reports

1.Below is how to run the reports

2.Home no auto: Target Line is Personal Auto

1.If the home is with any of our preferred carriers, then we can and would be willing to write the auto

2.Company exceptions:

1.Fair Plan (if low-value dwelling)

2.National Security or National Loyds

3.Aegis

4.American Reliable

5.Tim Parkman?

3.Auto no home: Target Line is Homeowners, Condo, Mobile Home, Renters

1.Need to make sure home is something we want, do so my reviewing online resources:

1.Tax assessor

2.Google Street View

3.Zillow, ect

4.Home and Auto no Umbrella

1.Need to consider what they do for a living and what the limits of insurance they have. If they have limits lower than $100,000, this will be a really

hard sale

2.Some parameters that make them a target for Umbrella:

1.The education level of Masters or Higher

2.Children in college or high school

3.higher paid profession, business class, management, physician, attorney, etc.  

4.Business owner

5.Someone that has a lot of assets (property)

5.Home no Flood

1.Need to consider where the property is.  

1.If coastal it should be an easier sale

2.If in the hill of Mississippi or Arkansas, then I would not try it.

3.Easier targets are coastal, Baton Rouge, Monroe, properties close to rivers.

Rewrites:

1.You may need to rewrite some policies. That is okay; remember, our goal is to build a deeper relationship as their personal risk manager.  

2.When rewriting a policy, make sure:

1.When policy downloads to change from “New” to “Rewrite”

2.Commission split will not apply to the re-written policy. It will only apply to the added policy.