2017 Is Here! Get to Work on These 3 Things – Part 2

Welcome to 2017. If your agency did well in 2016, congratulations! If your results were less than stellar or if you feel like you should’ve accomplished more, it’s time to get to work. This is part two of three articles that discusses why agency processes are so important and why they should be automated.

Reduce Your E&O Exposure

If your agency is typical, you are probably paying at least $1,000 per year for E&O coverage. You simply cannot live without it, but you can reduce your exposure by implementing certain sales and service processes that allow your agency to follow proper procedure every day, all the time.

As a licensed agent, you’ve most likely attended CE classes on E&O exposure, and left with a feeling of dread, and that is not necessarily a bad thing. When you understand the things that can go wrong in an agency, you are motivated to put processes in place to mitigate your exposure.

Vital After-the-Sale Processes

Once you have completed the discovery process for your prospect and offered a quote that is accepted, there are vitally important steps that should be taken while on-boarding your new client. If your agency system provides for electronic signing of documents, most of these steps can be completed automatically. If your system does not allow for automatically sending predetermined documents for electronic signatures, get one that does or use a stand-alone program in addition to your current system.

  • Your valid quote should be emailed to your prospect for signing.
  • Your completed application should be emailed to your prospect for signing.
  • Any required support documents should be emailed to your prospect for signing.
  • Your new client should be automatically added to any drip-mail programs that pertain to them based on the client data in your system.
  • The first 3 bullet points should automatically create a suspense to verify signatures were received.
  • Your new client should automatically be entered into your automated cross-sell process
  • Your client should automatically receive a welcome packet or letter from YOUR agency.
  • Your new client should automatically be scheduled for at least two telephone checkups over the next twelve months.

Automation In the Agency

If you’re an experienced agent, you know that these steps need to take place and be verified. If you are a new agent, your mentor or support group will certainly cover the administrative steps that follow the sale.

In all cases, however, you should complete the research and invest in an agency management system that will put these processes on auto pilot. If you fail to do so, you will likely have to hire support personnel to handle these tasks or require your agents to complete them when they should be spending their time on selling prospects or cross-selling current clients.

When it comes to required forms, documents, and general client letters, take the possibility of human error out of the equation whenever possible. Yes, even computers can somehow mess things up, but automated task errors are generally few and far between. The Less error between client and agent equals stable E&O renewals, and that’s a very good thing.