Falling at the First Hurdle - Retaining Consumers

Retaining business is essential if you want to stay on board the business bus however some car insurance companies simply fail at the first hurdle in appreciating this fact. It is an all too common fact that many in business focus most of their attentions on attracting new business through the door, throwing everything and the kitchen sink at marketing.

Having achieved the goal of attracting the consumer and writing them onto the book of business many then close the book and hope that in 12 months time the consumer will simply renew. The insurance market is a strange beast, always providing essential cover in the hour of need but yet nobody raves about having it.

Quite simply insurance cover is something we all need but we don’t want it, it’s certainly not something we look forward to paying for anyhow. With a little TLC and effort many businesses could actually retain more of their renewal business and keep their book of business healthy. As with life itself the secret lies in communication, and by that we mean good communication. When you take your new client on board what do you do? Do you just send the paperwork through and that’s it job done.

Many take that attitude or even worse fail to send through the correct documentation requiring the customer to chase important documents – Good Start! Public opinion of recent has also shown that what annoys customers is the ability for a company to take calls for sales in a literal instant but when it comes to after sales care they often fail to answer the calls within a 20 minute period.

Some car insurance companies have also employed the services of overseas call centres where in some cases there can be a complete breakdown of communication and often understanding. A successful business strategy should encompass the future and not just the first bite at the apple, particularly in the world of insurance which is becoming more and more competitive there needs to be more focus on retention of consumers.

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