Does your agency conduct renewal reviews for personal lines

[Insursync]

Do you usually reach out to all of your personal lines customers at renewal and pro-actively requote accounts where the premium increased significantly to offer better options or do you wait until the customer reaches out to complain about the increase?

 

[NY independent]

Unless you are a very small agency, it's largely impossible to do this given today's market. Nearly every renewal is a significant increase. Requote? There's usually no other market interested (at least here in NY). Having said that, in a "normal" market, yes, we would contact the insured if we saw a large premium increase at renewal.

 

[Insursync]

Are you noticing any improvement in the market in NY? I'm asking because I had an agency in IL for 17 years and we were proactive and remarketed all personal lines accounts that increased more than 10% before the customers even had a chance to call and complain about it. Even though we were not always able to find a better scenario, our customers knew that we were doing this and they rarely shopped us with other agencies/carriers. Our retention was 95% and I think it was highly due to this process. Then my agency was purchased by a very large broker that doesn't do this and they are they are losing customers non-stop. I get calls from old customers stating that they ask the new broker to re-shop and weeks pass with no response so they just find a new carrier on their own.

 

[North Texas Agent]

At my old office I had between 60-70 renewals a month and contacted each client. That is what separated me from most other agents.