This submit is a part of a collection sponsored by EZLynx.
Summer season is a notoriously busy season for insurance coverage renewals, particularly for private traces like auto and owners’ insurance coverage. For unbiased brokers, this time of 12 months typically means juggling a flood of deadlines, premium adjustments, and consumer communications.
In case your renewal technique contains beginning the evaluate course of 60 to 90 days upfront and reaching out to shoppers a few month earlier than their insurance policies expire, you understand how tough it may be to remain on prime of every of those timelines throughout your e book of enterprise. With so many shifting components, even one missed deadline might value you a valued consumer—and letting a couple of slip by can rapidly affect your retention.
The excellent news? You don’t need to navigate this alone. EZLynx’s know-how could make managing renewals really feel much less like reactive firefighting and extra like a proactive approach to develop your corporation.
Mechanically Observe Renewals with Ease
Based on McKinsey, staff spend 1.8 hours per day, over 9 hours every week, simply looking for data. In case your present workflow for monitoring renewals isn’t built-in into your company administration system, you’re probably dropping invaluable time toggling between emails, spreadsheets, and service portals. Not solely does this lower into the time you possibly can spend advising shoppers, however it additionally will increase your threat of errors.
EZLynx eliminates this inefficiency by mechanically monitoring all consumer coverage expiration dates. With real-time alerts and a clear, centralized dashboard, you’ll all the time know what’s developing and when so you possibly can keep forward and hold every part beneath management.
Keep Proactive by Figuring out At-Threat Shoppers
Not all renewals are created equal. Some shoppers face important premium will increase, placing them at greater threat of purchasing round or switching carriers.
With all of your renewal exercise centralized in a single place, EZLynx mechanically identifies which shoppers are most in danger. It flags accounts experiencing substantial premium hikes, permitting you to prioritize these renewals and attain out to shoppers earlier than they take into account switching suppliers or letting their insurance policies lapse altogether.
Current Aspect-by-Aspect Renewal Comparisons
As soon as you recognize which shoppers are in danger, EZLynx makes it straightforward to current them with actionable renewal data. EZLynx can mechanically ship insureds pre-renewal coverage summaries and, optionally, a personalised video from their agent explaining any protection adjustments. Remarketing options pull real-time quotes in your at-risk shoppers and show them alongside their present coverage particulars—no guide knowledge entry required.
The platform then presents these choices in a clear, side-by-side comparability, permitting you to immediately establish premium adjustments, protection gaps, or changes. This makes it simpler to information your shoppers by way of their renewal selections and ensures you’re totally ready for each dialog.
Take Benefit of Cross-Promote Alternatives
Wouldn’t it’s nice if whereas serving to shoppers with renewals, you possibly can additionally simply establish alternatives to supply them extra services and products?
EZLynx leverages knowledge in your present e book and intelligently surfaces cross-sell suggestions and permits insureds to simply add merchandise in the course of the renewal course of. This performance helps brokers spherical out accounts with out extra guide work and makes it straightforward for shoppers to take motion when insurance coverage is already prime of thoughts.
Don’t Let Renewals Burn You Out
EZLynx automates the time-consuming duties concerned in managing renewals, saving you hours of administrative work every week. This further time permits you to deal with rising your corporation, strengthening consumer relationships, or just having fun with the summer time with much less stress.
Whereas renewal season is all the time busy, it doesn’t need to be overwhelming. With EZLynx’s renewal and retention instruments, you possibly can streamline your workflows and improve consumer loyalty—supplying you with and your workforce extra respiratory room in the course of the busiest time of 12 months.
An important insurance coverage information,in your inbox each enterprise day.
Get the insurance coverage trade’s trusted e-newsletter
