- 390
I guess if you were half as good as I am, you'd have nothing to worry about.
Plus by the time the new policy is in force the customer should be mentally switched over and love dealing with you as their agent way more than some 1800-Geico rep.
Geico Cancellation-State Department of Insurance
- Thread starter KCAgent
- Start date
I guess if you were half as good as I am, you'd have nothing to worry about.
Plus by the time the new policy is in force the customer should be mentally switched over and love dealing with you as their agent way more than some 1800-Geico rep.
- 1,581
Well then I guess you're better then me, because I've had GEICO win back customers a few times over my career & it's GEICO more then any other company. It's probably happened 3-5x over my 9 years.
- 977
I don't get what there is to argue about. More than one way to skin a cat. If what you're doing works for you, what's it to you if someone else has a different system that works for them?
I don't mind letting a customer handle their own cancellation, especially if they are on EFT and have to handle that anyway, but I'm always sure to somehow rehearse the scenario so they are mentally prepared.
I don't mind letting a customer handle their own cancellation, especially if they are on EFT and have to handle that anyway, but I'm always sure to somehow rehearse the scenario so they are mentally prepared.
SimonYule
Expert
This is going to sound SO greedy, and probably isnt the BEST business practice...but I have three segments to my client list. A,B, and C. The C list clients are singles that only have car insurance with me. They pay $180 per month, they dont own a home, and they don't have renters insurance. The B list clients own a home, but only have car insurance with me...and the A list clients have combined auto and home, and we attempt to sell them Life insurance if they haven't done so already. Those C list clients are the only ones that I'm going to lose to Geico, because I'm not going to fight them over the 15-30 dollars per month that they're going to save. Truth is, they probably NEED that 15-30 bucks per month to get by. Any time a B list client requests to change carriers or calls to lower their rate...I have the opportunity to combine their homeowners insurance to lower BOTH policies, and most of the time it's a no brainer for that client. The A list clients, I have built a relationship with and it would take A LOT for them to leave me. I would imagine it would be hard for them to call or e-mail to tell me that they're going elsewhere because of the relationship that we've built. Don't waste your time chasing small clients. Your product may not be in their best interest, and it's in YOUR BEST INTEREST to let them go. And give your "A list" clients a reason to never leave you. Something as small as a $25 gift card to a random client every month would ensure that they don't leave you.
- 1,581
HERE WE GO! I'm writing somebody right now from GEICO who's on EFT w/ them & they weren't able to stop their payment by going online. Now they're going to call to ask GEICO if they can stop the payment....
...and this person was REALLY timid about leaving GEICO too. AHHHHHHHHHHHHHHHHHHHHHHHHHHH
...and this person was REALLY timid about leaving GEICO too. AHHHHHHHHHHHHHHHHHHHHHHHHHHH
Hey Americans here is an idea! We are going to make people get licensed to sell insurance so they can advise their clients properly on how to insure their assets. However if the client wants to go on the Internet and purchase insurance coverage himself without getting a license they can. Does everyone not get the irony in this! Why do we pay licensing fee's every year and continuing Ed to educate American people about insurance? Think about it, the departments of insurance (state) are saying you need to take and pass this test to sell insurance, but everyone else that buys online can just By-pass the state laws and sell insurance to themselves! Think long and hard about it. This is the real issue, if you can't tell it gets me worked up!
Scott Ashton
Expert
- 81
Obviously they have some powerful lobbyists. Went to the DOI because they had cute women passing out business cards to some of my clients that says "marketing rep". I asked the department how they allow this. I have to be licensed to pass out my cards. I was told, no shit, "well just as long as they're not trying to sell insurance"!! I replied, I might as well hire a frigging hooker with 36 d cups to pass out my cards. Sure not a level playing field here in Florida.
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