The old saying “service after the sale” is also true in the insurance world. As with any product or service, clients like to know you are aware they exist, even after you have made your commission from them, and that you are there to answer their questions.
Sometimes all that is needed is a quick phone call or email to see if there is anything they need. Doing this only takes a little of your time, and can be done on Fridays, at the end of the week, when you have done your paperwork on new sales, or at any other time you see fit. The important thing is that it is done at least once in awhile (perhaps every 3 months) to let the customer know you are still there for them.
Follow-ups can also include answering questions customers have asked, when you said you would get back to them. There is probably nothing that increases cancellation rates more than an agent who does not call back in answer to questions. My mother once called her annuity agent and accidentally woke his sleeping toddler. The agent’s wife was very rude to my mother, and the agent never called her back. My mother came very close to dropping the policy and would have, had she not had so much money already invested in it. I speak from personal experience on this issue. Follow-up and be courteous. It will cost you if you don’t.
Another type of follow-up might be helping the customer upgrade something on their policy, or sending them necessary paperwork. Don’t make the customer wait too long before you take care of these things for them. Do the required paperwork as soon as the policy is issued, so the customer gets a copy as soon as possible. Likewise, if for example a beneficiary changed, this is as important to the client as the policy itself, since it designates who the money will go to in the event of their death. Make sure this type of follow-up is done promptly and efficiently, and that you call to check they got their required documentation.
Finally, follow-up can also involve contacting people who formerly cancelled the policy, but who might be interested in coming back on. Perhaps their situation was a financial one, and now their economic situation has changed. You will never know until you ask. A simple five minute call to ask how they’re doing could increase your chances of winning back a sale. Learn to see former clients as your extra leads list.
Following up with both former and current clients is necessary in an insurance sales career in order to maintain integrity, check on the status of things, and answer questions customers may have, which may keep them on the policy. If an agent takes an active role in getting in touch with the client on a regular basis, their credibility will increase, and former clients may even opt to come back. Whatever the result, you can rest assured you did the right thing and in insurance sales today, doing the right thing is job one.