Personal Lines Process Standardization

Business Issue:

The Retail division of this large, dedicated Insurance Agency, with over 300 store-front locations, over 400 dedicated agents and multiple brands, needed assistance with institutionalizing a standard process for ensuring their current book of business achieved maximum retention throughout the life of the policies. The client desired to accomplish this through retention and renewal strategies to ensure payment of premium at mid-term and at expiration.

Himes Consulting Group was engaged to create a consistent and measurable process for improving retention and institutionalizing this process within the organization.

Actions:

• Conducted detailed analysis by brand, state, and carrier as input into developing and implementing
  a detailed mid-term renewal process and an end-of-term retention process
• Leveraged existing, but unused technology tools to streamline retention process and provide
  individual agent work queues
• Implemented a centralized solution for conducting mid-term follow-up calls along with support
  tracking tools
• Created detailed procedures for all processes
• Conducted training for both the centralized payment processing and the decentralized renewal
  retention strategy for over 300 retail agents
• Created and reported on daily and weekly metrics

Projected Results:

• Increased contact with the customer without an increase in staff
• Improved the renewal retention on an average of 15%
• Maximized the utilization of existing technologies without incurring additional IT spend