Tips To Manage Your Portfolio As An Insurance Agent

One of the most complex tasks to be an insurance agent, when you have already created a customer base and master the art of prospecting, is the management of your contact portfolio.

Properly managing your client portfolio will help you grow it, generate more revenue, and keep your business stable. In this article, we will share some tips for the efficient administration of your portfolio of prospects.

  1. Identify certain traits in your prospects

It is important to take into account the age and stage of life of your prospects since, for example, a couple who just had a child will be more interested in acquiring insurance for their education than in acquiring auto insurance.

We advise you to observe the socioeconomic level of the client to know the type of product that may need / interest the client and that the one you recommend is within reach of his possibilities.

If you find a prospect who already has an agent but is not satisfied with it, it is a good opportunity, since half of the work is done. He is aware that he needs insurance, and it is only a matter of showing him that you are his best option.

Take into account the high seasons, and it is good to always keep in mind what are the months of the year in which people and companies are more likely to acquire or renew one (or more) insurance policies. For example, in April as the annual tax return, people are sensitive to the issue of a tax incentive for retirement insurance, or even medical expenses.

Another example is at the end of the year, as those who are employees receive the bonus, so it is an excellent strategy to position yourself before those dates to suggest a smart purchase.

You can suggest the purchase of other insurance from a customer who has previously purchased another product with you, and this is cross-selling.

  1. Be orderly when managing your contact base

For a new agent, it is advisable and easy to organize with excel, the trick is to do it the right way.

We advise you to classify your customers by branch:

  • Company damage
  • House damage
  • Medical/health expenses
  • Life insurances
  • Car Insurance
  1. Keep in touch with your customers to generate new opportunities

It is an excellent idea to set reminders one month before the expiration of the policy of each contact, and this will be useful to notify your customers in advance and help them prepare, this will help you to be more effective when receiving payment promptly.

A good idea to be present in the minds of your customers is to send them a congratulatory email on their birthday, especially in the case of medical expenses and life since these are usually the most profitable.

Remember that this business is to foster links with people, the benefit of being present is so that they do not see you as an “insurance salesman,” but as an advisor who is on the lookout even when your services are not required.

  1. Communicate news and news

Having a monthly newsletter is an excellent option for you to communicate about news and provide useful tips to your customers.

The most advisable thing is to have it divided by branch: auto insurance, medical expenses, life insurance, etc. This gives your business a degree of credibility and trust, as your customers will feel that you are the most prepared to answer them and solve their doubts.

We hope this article will be useful for a better administration of your client portfolio as an insurance agent to make the most of each contact and grow your business.