Jun 26, 2023
Have you ever thought about when to fire an insurance client? I bet you have! In insurance agencies sometimes we acquire books with undesired clients or over time we find that clients just may not be a good fit for the agency. In either scenario the challenge is the client isn't happy, generally they are unprofitable for your agency and your team gets burned out. However, it's a really difficult conversation to let a client go. So all too often agencies hold on to the wrong clients out of fear of repercussions.
When we work with agencies it becomes clear that these clients are more like client terrorists. We break down in this podcast the true math behind holding on to these clients. As a business owner it's important that you clearly identify the true cost of holding on to these types of clients.
In this podcast we break down the real math on holding on to these types of clients. Here are some considerations:
We recommend vetting your problem clients based on these objectives. Generally if a client is unethical - they gotta go! However, for the other objectives we recommend looking at clients that hit 2 -3 of these objective.
The bottom line is the cost to keeping a bad client far out weights the commission and as an agency leader it's your responsibility to protect your team for getting bogged down from these client terrorists!
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