Developing New Producers Through Retention and Cross-Selling

Boosting Agency Success: How New Producers Drive Growth & Retention

a month ago   •   1 min read

By The ReFocus Team
Photo by Karsten Winegeart / Unsplash

If you have new producers at your agency, you may be looking for ways to get them started that don’t just include cold calling. One option could be having them help identify opportunities for increased retention and insureds that could be cross-sold on other coverages.

Senior producers at your agency likely have a full slate of tasks that occupy their time. Newer producers may be able to work with them on these cross-selling and retention projects, possibly earning a commission split or even taking some of the workload off of others. Here are some approaches and benefits to consider:

  • Identify potential non-renewers
  • Young producers can work to find trends in your book on those that don’t renew
  • They can then help develop a plan for outreach and coverage options
  • Help cultivate cross-selling opportunities
  • Young producers can study your data and compile insureds that don’t have multiple lines of business with you or may need additional coverage
  • They can then determine those with the most upside and/or the likeliest needs
  • And again here, they can help develop a plan for outreach and coverage options
  • These activities can combine to lead to higher client satisfaction, a better client experience, and more retention
  • These activities can also grow the knowledge of the young producers as they learn more about coverage needs, risks, and opportunities to sell
  • And finally, these activities can develop more collaboration within your team and may even improve job satisfaction and retention of your employees

And if these new producers need help identifying retention trends, ReFocus AI can help provide a solution. Let us show you how we can do just that with automated reviews of your policyholder data. It’s a great first step to developing your new producers!

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