Unlock the potential hidden in client feedback—addressing it well can significantly increase portfolio profitability.
48% of respondents were unhappy with how the sale was handled. If a customer feels uncomfortable at this stage, they either walk away or cancel their policy soon after.
A recent survey by D’Alessio IROL highlights widespread dissatisfaction with the insurance sales process and reveals a striking insight about policyholder churn.
Today’s consumers expect smooth, solution-driven interactions, good experience. In the first minute, the salesperson must earn the right to make an offer and build trust. Buyers are well-informed, making them sophisticated—or confused—either way, complex.
Enhancing Broker and Agent Sales
The sales process must be simple and seamless, adapting to clients’ needs and buying habits. This requires integrating Customer Experience Management for Sales alongside traditional techniques. Remember, the sales journey doesn’t end with the advisor (see CXM Organizing your employees to deliver great experiences).
Another key insight: 60% of uninsured individuals previously had coverage but canceled it. This signals a breakdown in post-sale communication and engagement.
Maintaining a robust insurance portfolio is challenging—typically, there’s no interaction with clients unless a claim arises. This silence breeds uncertainty. Proactive engagement is crucial to alleviate it.
Did you know that 90% of consumers who leave a provider never voiced their concerns? Your customer service never had the chance to intervene.
At PAC, we innovate with Extended Client Relationship Systems tailored to each company and customer profile. The goal: detect and resolve client concerns before they switch advisors.
These insights from D’Alessio represent a major growth opportunity if you’re ready to innovate how you engage with clients. Otherwise, they remain as red flags on your dashboard.
