Renewal Phone Call Templates

We have put together renewal email templates to make using the ReFocus AI platform straightforward.

One of the most common mistakes that insurance professionals make is to remind their customers to shop around for better rates unintentionally. This is called induced churn, which can hurt your retention and profitability. In this article, we will discuss why induced churn happens, how to avoid it, and share effective renewal call templates to increase customer loyalty and satisfaction.

Induced churn happens when you remind your customers that their policy is about to expire and that they can look for other offers. Proactive communication before and during the renewal period may seem like an excellent way to show that you care about their needs and preferences, but it must be handled carefully. 

The best way to avoid induced churn is to segment your renewals and only call attention to those customers who are likely to leave. Focus on the value and benefits of staying with you rather than the risks and costs of leaving. You want to reinforce the positive aspects of your relationship, such as your expertise, trustworthiness, responsiveness, and personalization. You want them to feel appreciated, valued, and rewarded for loyalty.

"The best way to avoid induced churn is to segment your renewals and only call attention to those customers who are likely to leave."

An effective way to uncover needs while not causing shopping behavior for customers that are already likely to churn is to frame the conversation as an advisor looking out for their best interests rather than a transaction. The following renewal call templates will help you achieve a high-touch effect in an automated way when segmenting your renewals with ReFocus AI's churn risk scores.

Sample Phone Call Templates

Likely to Cancel (Live Conversation)

Hi, this is Name from Agency. I'm calling to check in with you about your policy that is about to renew. How are you doing today?

[If the customer responds positively]

It's great to hear that you're doing well. I am checking in to find out how you feel about your current insurance coverage. After looking over your current coverage, I would like to walk you through what you can expect to receive in the mail soon from Name of Carrier.

[If the customer responds negatively]

I'm sorry to hear that you're going through a tough time. I hope things improve for you soon. I am checking in to find out how you feel about your current insurance coverage. After looking over your current policy, I wanted to explain what you can expect to receive in the mail soon from Name of Carrier.

[If the customer says they are happy with their coverage]

That's wonderful. I'm so glad that you're satisfied with your policy. Has anything changed since we last spoke? [Insert relevant questions, e.g., Has Jimmy graduated from pre-school yet? > Perhaps there is a new life insurance need]

[If the customer says they are unhappy with their coverage or have some issues]

I see. I appreciate your honesty and feedback. Can you tell me more about what is going on?

[Other questions to ask]

• How satisfied are you with your current coverage and service?
• Have you experienced any life events or changes that might affect your insurance needs?
• Do you have any questions or concerns about your policy or claims process?
• Are you taking advantage of all the benefits and features available to you?
• How can I help you achieve your goals and protect what matters most?

[If the customer mentions something specific, such as price, coverage, service, etc.]

I understand. That's a valid concern. I want to help you find the best solution for your needs. Would you be interested in seeing some alternatives that might suit you better?

[If the customer agrees]

Great. I'll send you some options that you'll like. Please review them at your convenience and let me know what you think. I'll follow up with you in a few days to see if you have any questions.

[If the customer declines]

OK, no problem. I respect your decision. I want to make sure that you're happy with your insurance and that it meets your expectations. Feel free to let me know if you ever change your mind or want to explore other possibilities. I'm always here to help.

[Alternate ending]

Thank you for your time and for choosing Agency. It's always a pleasure to talk to you. Have a great day, and take care.

[End the call]

Likely to Cancel (Voicemail)

Hi, this is Name from Agency. I'm calling to check in with you about your policy that is about to renew. You will be getting a letter from the insurance carrier soon, and I'd love to walk you through what you can expect to see in it. 

I'll send you a link where you can easily schedule a time to talk with me. Or, if it's easier, call me back at 1-800-Insure. I am excited to hear from you soon. Thank you for choosing Agency as your trusted insurance partner.

Likely to Renew (Live Conversation)

Hello, this is Name from Agency. I'm calling to check in with you about your BOP renewal that's coming up in 45 days. How are you doing today?

[Wait for customer response]

That's great to hear. I'm glad you're doing well. I wanted to give you a heads-up about the current situation in the insurance market and how it might affect your renewal. As you may know, we are in a challenging market right now, which means that insurance companies face higher claims costs, lower investment returns, and stricter regulations. This means they have to adjust their rates to reflect the increased risk and expenses they face.

[Pause for customer reaction]

I understand that this is not the news you want to hear, and I appreciate your loyalty and trust in us. We value you as a customer and want to help you find the best coverage for your needs and budget. That's why I'm calling you today to explain what's happening and answer any questions.

[Pause for customer questions]

The good news is that your current policy is still very competitive and offers you great benefits and protection. You may see some rate increases when you renew, but they will be much lower than if you switch to a different carrier. In fact, switching carriers could cost you more money in the long run because you would lose any discounts or credits you earned with your current policy, and you would have to go through a new underwriting process that could result in higher premiums or lower coverage.

[Pause for customer feedback]

So, I recommend staying with your current policy for another year and seeing how the market evolves. We will continue to monitor the situation and look for opportunities to save money or improve your coverage. We will also let you know of changes or updates affecting your policy. You can always count on us to provide honest advice and excellent service.

[Pause for customer agreement]

Would you happen to have any questions or concerns about your renewal? Is there anything else I can do for you today?

Likely to Cancel (Voicemail)

Hi, this is Name from Agency. I'm calling to check in with you about your policy that is about to renew. I have reviewed your current policy and believe you are well-situated with your current coverage. That said, please let me know if there have been changes since we last spoke, such as purchasing a [insert relevant information: new vehicle, a second home, etc].

I'll be emailing you a renewal questionnaire shortly to make sharing this information easy.

As always, you are welcome to call me back at 1-800-Insure if you have any questions. I am excited to hear from you soon. Thank you for choosing Agency as your trusted insurance partner.