1. Overcoming Rate Increases
Kelly Donahue-Piro
President of Agency Performance Partners

2. Your Host: Kelly Donahue-Piro
Facebook.com/kelly.donahue
Facebook.com/agencyperformancepartners
@kldonahue
Kelly Donahue-Piro

3. Ground Rules

9. Survey Of Beliefs

10. Our clients don’t understand insurance like we do
Our clients don’t understand insurance like we do. That’s why they need us.
Insurance is not always fun to buy so we are here to help make the process simple and easy.
Sometimes insurance can be frustrating therefore the more empathy and solutions we bring, the better experience our client will have.
Clients don’t always understand why rates increase.

11. Let’s Get Started

13. Handling Rate Increases
Rates change every year
Depending on many market conditions they can increase or decrease
Weather
Claims
Market Saturation
Carrier and Market Appetite
When rates increase we have to work hard to show our value and the value of the carrier

14. If You Were a Client Whose Rates Had Increased 20%, How Would You Feel?

15. Why Do People Feel This Way?

16. There are 2 Ways to Handle This

17. Reactive Model People will call in
They have overnight to think about the rate increase
When they call how will they feel?
The goal should be to reach them first!
But if they call you...

18. Answer the phone with energy.
Step 1:
Answer the phone with energy.
Don’t be distracted.
A bad greeting is like a bad hand shake. It sets the tone for the rest of the call.
Smile when you speak!

19. Step 2:
Passionately Listen

20. Step 2: Let the caller fully finish their statements.
Take notes while they speak.
Digest what they are saying and why.
Listen between the lines & translate.

21. Step 3:
Provide Empathy

22. Step 3: Connect with the client Use their name
Think about their matter
(excitement, concern, frustration)
Be Genuine and Sincere

23. Identify a Plan with the Client
Step 4:
Identify a Plan with the Client

24. Step 4: Identify with their concern Review the account
Contact information
Additional policies?
Review of Coverage
Review of Deductible
Review of Discounts
Review of Policy Features
Review Claims
Review of updates and improvements

25. Step 5:
Avoid Remarketing

26. Step 5: Avoid Remarketing Discuss market changes Inspections
Review Discounts
Review Deductibles
Make sure we have everything up to date
Let the client know you will REVIEW not REMARKET the account

27. Step 6:
Set Expectations

28. Step 6: Always leave every call with confirmed next steps
Ask the client if they want a recap of the conversation via
Confirm how they want to be followed up with (cell, phone, )

29. Step 7:
Follow Through

30. Step 7: If things are delayed, communicate it to the client on time
Use the management system for follow up reminders
Confirm the client’s matter is 100% completed

31. Proactive Approach

32. Prepare for the Call Do we have a cell phone on file?
Do we have an on file?
Review claims history?
EFT?
Deductible and coverage review
Is there an endorsed umbrella?
Claims?
Are the drivers up to date?
Cross sell all Lines of Business
Check and verify limits / verify discounts
** This is your chance to get increases

33. Open the Call Greet them in a friendly manner
Thank them for their business
Ask them to review their account for accuracy
Confirm their contact information

34. Review the account
See your notes

35. Close the Call Set the expectation of next steps
Thank them for their business
Do what you say you are going to do!

36. Group Time!

37. Let’s Role Play the Calls