Increasing price at renewal time
Is there value in providing a predictable cost of risk transfer? This is a question value sellers must answer if they are going to be confident in overcoming initial price objections.
In many industries, companies will initially low ball the price of their product in order to get a foot in the door. Once they are in, there is a systematic effort to increase pricing during renewals. In times of significant market disruption, these increases can easily exceed 30 to 40 percent.
Most companies utilize a budget process with the expectation that they can accurately estimate their expenses and then build a revenue model that facilitates meeting expenses and making a profit. The predictable cost of risk transfer, coupled with value-driven claims and risk control services is the most assured way of accurately pegging the cost of managing risk.
Art Seifert, Glatfelter Program Managers
Arthur is a fitness enthusiast, a grandfather, philosopher and possessor of a wretched wit.
The real you is who your clients and prospects will connect with. Forget about perfect professionalism and get real to get better results.
One of the best ways to find a new source of premium is to find a new industry to specialize in. But finding the right fit for each agent can be tricky.
Use these 4 simple steps to turn your current clients into your agency's best advertisers. If clients are happy, they will happily win you new business.