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Account Rounding With New Insurance Clients

When someone reaches out to your insurance agency to start a new account, your insurance marketing team rejoices. You’ve achieved your marketing goal of attracting a new client. However, there are goals and then there are next-level goals. This year, work on account rounding to increase what each new client gets from your insurance agency—increase your value to them and increase their value to your business.


Pursuing Account Rounding with New Insurance Clients 

What is account rounding? According to  inTouch Business, Inc., account rounding is an effective way to increase both your overall revenue with a new insurance account and increase the lifetime value of the customer to your business. Account rounding, says inTouch Business, Inc., “takes your accounts, whether personal lines or commercial, and convinces them to use more agency services.”

In some ways, account rounding with new insurance clients parallels the processes you would use with existing clients. For example, if a new client is moving into a larger home and needs new home insurance, they may also need car insurance. The same applies to clients who are moving in from out of state.

By understanding a client’s specific life circumstances, you can understand what other types of insurance they might need and provide them with helpful information and insurance offers.

Understand your clients' life changes, and you'll know how to best pursue account rounding. 
Understand your clients’ life changes, and you’ll know how to best pursue account rounding. 


Building Trust with New Insurance Clients 

While your existing insurance clients have trust in your insurance agency, your new clients do not know you. This means that you need to work hard to build their trust. How can you do this?

  • Focus on insurance referrals and preferred market access. Work on gaining clients through trusted sources. If potential clients come to you through a friend, they are more likely to buy and to stick around. According to the Wharton School of Business, “the lifetime value of referred customers, measured over a six-year horizon, was 16 % higher, on average, than that of non-referred customers with similar demographics and time of acquisition.”
  • Provide exceptional, thoughtful customer service. Connect with your clients on a more personal level. Be flexible and ask good questions. When people feel like you care about them, and when you offer products that are specific to their circumstances, you’re better able to connect to your clients and round your accounts.
  • Develop relationships using targeted email lists. Add content that’s of interest to specific groups of clients so that your newsletters and offers will be valuable to them. Offering free video, webinar, and blog content provides additional value, and can help turn uncertain new clients into dedicated clients.
  • Reach out with congratulations and thanks. If one of your new clients just bought a home, send them a card or other token of congratulations. Celebrate your clients at unexpected times, too. Your appreciation will encourage them to stay with you and become a committed client.

Are you looking for new insurance marketing ideas? Connect with us at the American Agents Alliance. We can help you gain preferred market access to new insurance clients. Contact us today.

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