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How to Build Nurture Campaigns to Target Insurance Policy Renewals

Posted by ONEFIRE on 3/17/21 10:15 AM  |  3 minute read

emailmarketingYour customer’s policy renewal date is coming up: what are they receiving from you?

If you’re still sending the standard declaration page and information, you and your customer could both be missing out.

A policy renewal period is a chance for your customers to opt in to an upgraded policy or additional coverage, but they have to be clear on that opportunity if they’re going to buy into it.

So how do you clue your customers in to your other options without harassing them or complicating the renewal process?

Here are some strategies to build into your sales funnel:


Communicate with Retained Customers

New customers are necessary to keep your business growing, but insurance companies can fall into the habit of focusing too much on drumming up new business.

Your current customers hold a lot of potential, particularly if they have been satisfied with your service. Aim to keep the lines of communication open with them, both for feedback and sales purposes. The more they hear from you, the likelier they are to not only stay with your company, but consider the other services and products you have to offer.

When their policy renewal date rolls around, your customer should know what opportunities are available to them. Where could they be saving money? If they’ve had major life changes, what should they be looking for? Is there a policy that could serve them better? You should be educating them on what they’re receiving now, what could serve them better, and who can help them take those next steps.

Making sure your customer actually receives this information can be tricky, because they are likely inundated with emails every single day. That’s where automation comes in.


Keep Your Customers in the Loop with Automation

The beauty of automated emails is that once you set them up, you can be sure that your customers are receiving what they need, when they need it.

One email before policy renewal time is probably not going to be enough to fully inform your customer of what’s available to them.

Your communication with your customers should be ongoing, so that when the time comes for them to buy or upgrade, they’re ready to do so. Marketing automation software allows you to set up campaigns that will deliver information to your customers regularly, so they’re not inundated at renewal time.

You can also see who is opening which emails, and segment your customers into groups for more specific help.

For example, if you offer both home and auto insurance, you could segment your email lists into home customers, auto customers and bundled customers. As you email your home and auto lists about bundling opportunities, you could set up more specific email campaigns based on which services they’re interested in. When renewal time rolls around, they’ll already know what upgrades or bundles are available to them, and they’ll be likelier to buy.


Take Your Customer Service to the Next Level

Automation tools can make your customer service shine. You might not have the time to celebrate each and every customer in the moment, but with automation, it’s completely doable.

Calling attention to their birthday or sign-up anniversary shows that they are important to you, and with automation, you’ll never send a belated card.


Go Beyond Email

Email automation is an excellent way to keep your customers informed and get them the information they need, but their inboxes can get overwhelming. Automation doesn’t have to end with email.

Marketing automation software will often offer options for automated phone calls or SMS text messaging, which is a great way to remind your customers that their policies are about to renew. Make it very clear to them what’s changing and what they need to do next. They will appreciate the convenience, and you can feel confident that your customers will have everything they need before they renew.

However you choose to communicate with your customers, remember that consistency is key. Automation gives you the ability to stay in touch and keep your customers informed without the time commitment of real-time emailing.

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Topics: Insurance