On the positive side, a typical renewal conversation provides an opportunity to upsell and meet any new goals a client may have. But unwelcome surprises during the renewal process can pose risks, potentially motivating a client to shop around and move their business.   

Insurance agents tell us they often receive calls from clients who have questions about coverage changes or premium increases. If they’re not fully prepared to provide effective answers in that moment, they may be caught off guard. Some say they feel overwhelmed during renewals – especially if they’re unaware of changing client needs. It’s never good to be coming from a reactive stance. 

Today’s ideal carrier will proactively notify agents of upcoming client renewals. They’ll also provide real-time data and insights that may transform a difficult conversation into a fresh opportunity. When a client feels the agent is truly staying on top of their evolving needs, that agent may even be seen as a hero rather than a villain. And that’s how long-term relationships are built and maintained.

Another solution can include proactive communications that may provide insight into a client’s changing situation. If we’re privy to a change in address, the purchase of a new vehicle, or calls pertaining to premium increase questions—agents would benefit from this information. They can use the information to prepare for constructive and beneficial renewal conversations with their clients.