To win back and retain valuable clients, we aim to understand their reasons for departure and continually improve our services. 🛫 By documenting and analyzing client departures, we can identify patterns, learn from our mistakes, and strive for improvement. 🕵️♀️ Accurate reporting from our agency management system, combined with direct customer feedback, will provide us with the necessary insights. 📊 Additionally, implementing a process to track client cancellations will enable us to target and attract the right clients for our agency 🚀
Follow Agency Standards
Review daily cancellation reports and contact clients to attempt retention.
Initiate future marketing contact.
Confirm cancellation requests via text/email and provide guidance.
Promote EFT/ACH payments.
Refer clients with multiple non-payment cancellations (2+ in 3 years) somewhere else.
Reach out with 1 phone call, email and text; document with Labels.
Not reviewing daily cancellation reports.🚫
Emailing instead of calling clients. 📞❌
NOT updating client contact information. 🗂️
NOT using the management system - Omitting notes with adequate documentation or following the checklist.✍🏻
NOT attaching the cancellation notice
NOT educating clients whenever possible about the cancellation reason
Request Reinstatement & Initial Contact:
Request Reinstatement: Confirm carrier willingness to reinstate coverage. Remind the client that reinstatement is a courtesy, not a right, and the carrier may reject the request.
Initiate contact with the client and/or finance company (if applicable).
Gather necessary information: Policy number, reason for lapse, desired reinstatement date.
If they had a lot of cancellations for non payment push them to go on automatic payment or pay in full. Use Labels
Pro Tip: Document all communication and key details in the client file.
Reinstatement Requirements Gathering:
Determine the specific reinstatement requirements for the policy (e.g., Verbal Statement of No Loss, Signed Statement of No Loss, Payment). These requirements vary by carrier, billing type, and specific policy conditions.
Payment Processing (if applicable):
Only proceed with payment if required for reinstatement.
Direct Bill: Use Privnote for sensitive data or send an EFT/ACH form for signature during the call. Send the completed form to the carrier and initiate EFT setup.
Agency Bill: If financed, contact the carrier/MGA before paying the finance company. Include the carrier, finance company, and accounting in the email thread. Obtain approval and any fee information. Collect payment from the insured and pay the carrier.
Mortgagee Bill: Confirm mortgagee clause and loan number. If incorrect, contact the mortgage company directly to validate coverage and payment instructions. Issue a binder if necessary pending the mortgagee clause update. Process the Policy Change Request (Mortgagee Changes) and send proof to the bank.
Statement of No Loss (SONL) / Verbal Statement of No Loss (VSNL):
This depends on what the carrier is looking for to reinstatement. It could be a verbal statement of no loss or a signed statement of no loss.
Signed SONL: Obtain a signed SONL from the client during the call before 4 PM EST. If this is not possible, the reinstatement will be delayed.
VSNL: Conduct the verbal statement of no loss with the carrier and the insured on the line, documenting the details and the carrier representative's name.
Download: Reassign a task to check for the reinstatement download in 2 business days.
Manual: Enter the reinstatement transaction in the system once received.
Direct Bill: Complete all general steps.
Agency Bill: Contact carrier/MGA before payment (if required). Follow general payment processing steps (if required). Pro Tip: A finance company request is not a reinstatement. Obtain confirmation from the carrier/MGA.
Mortgagee Bill:
Payment Options (if required):
Insured Pays: Advise client to make full or minimum payment (for reimbursement or to avoid cancellation). They will get funds back once bank pays. Contact team lead for agency bill scenarios.
Mortgage Company Pays: Facilitate a three-way call. Provide carrier overnight address. Update mortgagee clause later, but payment should be sent immediately.
Contact Information: Check the directory for bank/mortgagee clause contact information. Utilize online portals (mycoverageinfo.com, myinsinfo.com) when available. Document upload methods (website, email, fax) and inform the insured.
Renewal/Cancellation: If near renewal or cancellation, contact your team lead immediately, especially for agency bill situations.
This is the section where we outline all of the hairball, wonky things that can happen so we have a Plan B ready to go. 😱
Here are some options for the what if situations that may arise. We want to empower you with a plan rather than having to scramble. 💪
🤔What if the policy is cancelled and they want to reinstate coverage/in the middle of reinstating coverage but it is not yet reinstated?
Remind them that coverage remains cancelled until it is reinstated by the carrier.
🤔The policy can’t be reinstated unless the carrier approves the reinstatement
Over the Phone 📞: "I want to clarify that your policy won't be reinstated until our carrier approves it, even though the payment has been made."
In Writing 📨: "Kindly note that your policy will only be reinstated once it's approved by our carrier, despite the payment being submitted."
🤔The carrier does not reinstate but rewrites the policy with a lapse in coverage
This is common for assigned risk policies as if the policies cancel they will rewrite it 1 day after the effective date of payment being made. In this case go ahead and setup a new shell policy with the new policy number and let the client know of the lapse. The policy that was cancelled should remained cancelled in the system and the new policy should have the transaction entered as a rewrite linking back to the cancelled policy
🤔What if we receive carrier confirmation for reinstatement? Should we handle it or reassign it to Operations?
Whomever is handing the reinstatement should follow through and make sure they get the reinstatement confirmation and enter into the system
🤔 What if the contact information is wrong?
Use Postal Mail and send the Bad contact memo.
.
🤔 What if the client does not respond, how many times should I follow up?
Follow our standards for follow up.
At your discretion and depending on the severity of the concern use Postal Mail
🤔 What if the carrier is unresponsive?
Let your team lead know
Email Template
Cancellation Request to Carrier
Late Pay NOC
Explain that we will only help this once. Errors and oversights can happen, but we are making an exception to retain them as loyal customers. If the policy cancels again, we will not be able to assist them in securing replacement coverage. (Most preferred carriers will not allow multiple cancellations).
Non-Pay NOC email & text:
Hello, your policy is set to cancel or has already been canceled due to non-payment. Please make payment to maintain coverage.
Carrier: Email Template Requesting Reinstatement and Set up EFT: **RUSH** in subject line
Hello,
See the attached EFT form and process the past due payment, reinstate, and set up recurring payments.
Send the reinstatement notice once processed. Thank you.
Customer Email REINSTATEMENT PENDING
SUBJECT: Reinstatement Pending
Voicemail Winback Template
Hi, this is NAME, we just received the sad news you are no longer with our office and we want to win you back. We miss you! Please get back to us to tell us how we can fix it! I will send you a text and email now feel free to reach back out whichever is easier for you!
Text Winback Template
Hi INSURED NAME, I just left you a voicemail regarding the unfortunate news. We want to make things right! What can we do to make this better? Call us anytime at 732-462-8343 My ext is ****, book a call with me HERE (CALENDLY LINK) or text us back! We are looking forward to talking to you!
Email Winback Template
SUBJECT: We Miss You!
Hi INSURED NAME, I just left you a voicemail regarding the unfortunate news. We want to make things right! What can we do to make this better? Call us anytime at 732-462-8343 My ext is ****, book a call with me HERE (CALENDLY LINK) or text us back! We are looking forward to talking to you!