Andy Neary and a co-host explain how auto-insurance renewals are shifting. Clients who once accepted $1,200 quotes now shop around and demand to be matched when competitors offer $800. Agencies face more work remarketing renewals and shrinking margins.
Chapters
So their renewal, auto insurance renewal was twelve hundred bucks. The renewal came in at $1,000. We think it's going to be all great. Yeah. And then they go, hey, I got something for 800. We're like, oh my goodness. So now it's not as easy as we had thought because now we have to remarket out all our clients because there is great competition out there. While the tone of our clients are a lot better, the work is definitely a lot higher while the revenue is also seeing a little impact because the premiums are seeing a higher, a big decrease. So we do have the capacity and you know, like I was saying, we do have a lot of employees. We do have the capacity to be able to ensure that all of our renewals are being remarketed out. And we are presenting the best proposals to our client. But interesting.
Though, with expectations, you feel great because you're delivering a 20% reduction. And their reaction is great, I want more.
No, exactly. And it's usually more on the newer clientele. When you have a clientele that's been there for, for, been with us for five, six plus years, that's when there's more of a open communication vers like, hey, I found something better. Don't renew. They're like, hey, I received another option. Would you please remarket it out? Because I would love to stay with you or can you offer me the same proposal? Yeah, it's.
So I got a couple questions on that I'd love to ask you about, about the customer.
