Streamline Commercial Lines Remarketing

Remarketing commercial lines is a big task and shouldn’t be taken lightly. In fact, many agents shy away from the it because they either don’t feel comfortable enough dealing with commercial lines or they think remarketing is too much of a hassle. Let me tell you something: it’s not as difficult as you think! There are plenty of resources available to independent agents (ASNOA Affiliates most of all) that streamline the process and make remarketing an extra source of revenue.

Here are ten helpful tips to make remarketing commercial lines smooth saling:

  1. Know Everything about Commercial Lines!
    • If you or a member of your team doesn’t know the ins and outs of offering CL or which clients to go after, you will not be able to successfully remarket them. This goes beyond the basic understanding you were taught for your licensure exam. Knowing how your commercial clients differ and how to tailor their policies is the first step toward remarketing to them. Want to know more about selling commercial lines, or think a member of your team needs to learn more? Register for the SBCL class that kicks off July 16th, 2020, to get the lowdown.
  2. Utilize Future Expiration Reports!
    • Take a look at your commercial accounts in Epic at least 90 days before the policy is due to renew. Then collaborate with your team to see who will work on each account so the work is evenly distributed, and mistakes are less likely. Get a system in place in your agency so everyone knows how to operate when renewals are coming up, and regular check-ins can be very helpful!
  3. Use Epic’s Renewal Manager!
  4. Reassure Your Clients!
    • Let the clients know you are their trusted advisor and are shopping their insurance with the multiple carriers you have direct appointments with. You can do this by setting up automated emails, letting clients know when their policies are up for renewal and that you are continuously searching for the best rates! Customers appreciate your efforts because it shows you have their best interest in mind, and they don’t have to shop elsewhere. Utilize a free BOP CL Rater with NBS IQuote, it allows you to download applications to start the shopping process.
  5. Verify the Client’s Info!
    • Have your client verify that all their information is current and up to date, and have them sign off on it. Then they can return the information to you, and you can get to work remarketing. This step is absolutely necessary to protect you from E&O. There are additional products available such as INDIO now integrated with EPIC or Esignature software that make this process faster. Remember, ease of use is the client’s number one priority (even before pricing). Check out this DEMO of INDIO to get a better idea.
  6. Know which Carrier Want to Quote!
    • Check out the IVANS Market Appeitite built into Epic to see which carrier is interesting in quoting this class of business. Note, always stay on top of your carrier product trainings! Take advantage of them, they’re free to you and show you how to drill down to specific classes of business. This ties in with diversifying your carrier appointments. This allows your team to see which carriers you have appointments with and also includes carriers that you can access with ASNOA/Allegiance Master codes. Watch this demo for more info about this topic.
  7. Don’t Leave Money on the Table!
    • Round out the account if you are insuring their business on a BOP. This is your golden opportunity to cross sell! Think Workers Compensation, Commercial Auto, Umbrella, and Cyber Liability. Since they already have a policy with you, make yourself an option for providing more coverage!
  8. Present your Client with Options!
    • They trust you to find them the best deal, so present all of the coverages and pricing they should be carrying to properly protect their business. Have sign off forms for coverages they don’t elect that show you offered them as options. This will properly protect your agency from E&O. Learn how to set up your customized professional proposals in Epic as well with the EPIC Weekly Commercial Lines Training class.
  9. Measure your success!
    • Tracking every renewal opportunity gives you with important data on: Which clients you moved to another carrier; How many clients did you leave with the same carrier; How many clients you lost and why; and more! You will start to notice key identifiers (similarities) between these customers that will allow you to improve your service and develop best practices.
  10. Drive sales to your website!
    • Don’t wait for the phone to ring, use that shiny new website to entice clients! The old ways of selling insurance simply cannot keep up with the budding technology of today’s standards, so start training yourself on how to get the most out of your tech. A great resource to consider is ASNOA Marketing game plan assistance. The team will explain how your digital data works together across multiple platforms to boost your online presence and popularity in the community. Contact for more info.

Whew, that was a lot of information! You can see now that remarketing to commercial clients is not a scary or overwhelming process, you actually have all the resources at your fingertips. These ten simple steps outline the importance of understanding your data (client information you already have access to in Epic) and utilizing it to improve your services. This way you will get a greater yield on your efforts and probably achieve a better relationship with your clients.

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