The converse is also true. When an insurance agency loses a customer, it has the greatest negative impact on the bottom line. Consider also the cost factor. You are investing a significant amount of resources to acquire your customers. Be willing to invest to retain them.
Assimilation is perhaps the most critical stage in the relationship-building process.
It is also the least known or understood. Studies show that a customer who buys a second time is much more likely to become a repeat customer than a first-time buyer. To most effectively expedite the retention process, insurance agencies need to accelerate the assimilation process. Two or three years are usually necessary to have a customer proceed through this phase to the next. Another sure-fire way to assimilate your new customers is to differentiate them from your other customers.