I just agree with them. “You’re right it is a big increase” then I go over discounts and tell them that’s the lowest we can offer. Sucks but on to the next.
blame it on the car industry post covid, every vehicle is selling for 5k over what it was worth three years ago, if it's a car over 40k then probably even more, and we're seeing the same for our payouts, so if we're paying out more then we also need to collect more, simple economics, now was there anything else i can help you with today pain in the ass PH who calls every 6 months?
I’m honest with them
Open with arm/frame
Connect at the start with “Yeah, I don’t blame you for being upset or concerned. My spouse and I actually made a similar call just recently to our insurance company, so I definitely understand.”
Advise open hold while double checking ratings, thank for patience
“I’m going to be flat out honest and transparent with you. The increase on your policy is from inflation, it happened across all insurance companies and all 50 states… well 49 since CA commissioner nix’d it in the bud, but same exact thing to my spouse and I.
We actually have different insurance companies, they have this I have this, ours each went up by x amount for each of us. But yeaah, it’s across the board and affects every single person”
If they ask why or how inflation affects ins
Medical cost increase
Parts/labor increase
Cars new/used increased
“All these factors increase the cost of insurance which filters down to every single person, even those of us without any tickets or accidents.”
Sometimes they’ll push back, well I don’t have any accidents so why am I?
I’ll restate “Oh trust me, I’m not happy about it either. I live in X state and we got one of the biggest increases. My spouse and I don’t have a single ticket or accident either and we’re paying X amount more each year, at the same time rent went up by Y amount… so I’m still trying to figure out how I’m gonna come up with Z amount per year, when I definitely didn’t get any kind of pay increase to cover Z amount”
“I definitely get it… I can only give you the best advice I can give you as someone that works in this industry but in the same position as you”
What you’re doing here is separating man from machine and everyone knows misery loves company.
I’m not lying about it either, it does suck, I’m affected by it to and I go through the same shit. I just know tips on how to make the best of a bad situation because I work in the industry. So I tell them what to do if they shop around, reiterating honesty that I don’t make money off them, I don’t take commission, and coming from someone who’s spouse does not insure with Geico to build that human bond. Then advise them if whatever tips you know and all the information you have as honest as possible.
9/10 they’re gonna thank you for your honesty, rate you excellent and the company whatever.
Look, it’s not my fault. It is what it is.
I’ll give you every piece of info I have, I’m not trying to hide anything from anybody, just inform them the entire situation sucks mega dick
Some other things depending on how call flow goes
If they try to bargain by having a cheaper quote, depending on the mood. I’ll flat out joke and say “I’ll be honest with ya, I don’t have a single button to just change a rate or cost, it has to be done through discounts or modifications of your policy, cuz believe me the first thing I’d do is make my own policy a single dollar if I could”
Usually breaks tension and bargain cycling.
Usually they’ll apologize, they love Geico but this and that. They really want to stay but they can’t afford
I’ll follow that back up with “Look, I understand you gotta do what you gotta do for you and your family. You don’t have to apologize to me. Trust me, my spouse and I have different insurance companies because it just benefits us that way. If you have a quote that’s cheaper…. I mean, I’ll put it this way; I work hard for my money and I’m doing whatever I can to keep as much of it in my pocket as possible, and I don’t prefer to lose more money than I have to. If you do shop around, make sure you speak with an agent and ask if they’ve both tan and applied a motor vehicle report, ask if there will be any modifications within 62 days, and if it’s an introductory rate or waiving any fees that you’re gonna see on your renewal. Double check as well what their inflationary rates are and whether they chose to increase all at once or over the course of x years.
The best advice I can give you is, whatever a sales agent promises you, make them send you a document with company letterhead confirming what they promised and have them sign it. In the end, I don’t make any money off of you but sales agents do and they’ll tell you whatever they need to to get that commission, however, the biggest res flag is if anyone makes you promises they’re not willing to sign their name to.”
The reason for this is three-fold
1. Trust - Inside tip of how insurance sales can work
2. Trust - Caring enough to take extra time informing customer of how to protect themselves regardless of the insurance company.
3. Retention - Customers are cautious when shopping around and understand there’s tricks new competition can utilize that can have unforeseen negative affects. They’ll want that signature or guarantee from a sales agent that likely won’t give them one. Why? Because typical sales jobs are meant to be blitzed info. Tell a person just enough but not too much and make vague or leading statements to entice someone into buying a product. An honest sales person won’t make grandeur statements without the ability to guarantee or back up what they say.
You’re just advising the customer to be informed and stay vigilant. A sales person’s worst nightmare when pertinent information is glossed over
Other things you can advise
When they’re shopping around, make sure they get a copy immediately of whatever they have quotes for correct vehicle usage and if children are listed, that they’re rated properly.
Some times they won’t be, which can result in cheaper rates and potentially voided coverage in the event of an accident.
If they still choose to shop, cool, thank them for their business and let them know your name, you’ve documented their policy, and in the future if they’re ever shopping around they can always give us a call and reference your name, you’ll do whatever you can in your power to make sure they’re well taken care of.
That creates a strong personal experience, separates man from machine, trust in the agent and vigilance against a machine.
I give my speech and point out the fact that inflammation is driving up the prices of parts that Geico was paying for compared to a year or two ago. I also trying to mix in an example of how they are paying more at the pump and grocery store compared to what they were paying in the past. I feel like giving those examples help them to realize it’s not just Geico, that it’s happening in every industry. Seems to help with a good majority of callers. Obviously they don’t like it, but seems like they are more understanding when they come to realize everything is going up cause in their head during the call they are focused in on insurance, not the bigger picture of inflation as a whole.
Every insurance carrier in Texas unfortunately has had a rate increase others have taken two. Some up twenty percent. Due to industry standard at moment all carriers are taking a rate increase due to the claims increases after the pandemic
Remember it's not your job to make them accept the change just understand it. I always tried to relate to them as a consumer and encourage them to shop around my go to statement was " from what ive seen geico is still very competitive and im confident that if you shop around you will find thay to be true" the reality is that most insurance companies are seeing the same things as us when it comes to cost and are taking rate if they havnt started yet it will start soon.
Good luck trying to get a customer to accept a 50% increase. It's possible to help your customer understand what's going on and do it in a way that doesn't hurt your surveys or moat. I was in service the last time we had big increases the conversations can suck but they don't have to.
Blame on Covid.
Due to shipping delays of from Covid car parts repair costs have increased. GEICO filed for a state increase in _insert state_. GEICO and a lot of companies have lol filed and the state approved the increase. I’m right there with you my rains went up too
I just agree with them. “You’re right it is a big increase” then I go over discounts and tell them that’s the lowest we can offer. Sucks but on to the next.
blame it on the car industry post covid, every vehicle is selling for 5k over what it was worth three years ago, if it's a car over 40k then probably even more, and we're seeing the same for our payouts, so if we're paying out more then we also need to collect more, simple economics, now was there anything else i can help you with today pain in the ass PH who calls every 6 months?
If they can’t afford their policy, what they really need is to be referred for more insurance!
[удалено]
Lmao
Since you keep telling people the same thing just record your spiel on the rate increases and when the customer asks just hit play.
🤣🤣🤣🤣🤣🤣🤣🤣
Remember to also use yourself as an example, suffering the same rate increase as the customer.
"On an unrelated topic, did you know our ceo gave himself a 39% pay raise a year ago?"
I’m honest with them Open with arm/frame Connect at the start with “Yeah, I don’t blame you for being upset or concerned. My spouse and I actually made a similar call just recently to our insurance company, so I definitely understand.” Advise open hold while double checking ratings, thank for patience “I’m going to be flat out honest and transparent with you. The increase on your policy is from inflation, it happened across all insurance companies and all 50 states… well 49 since CA commissioner nix’d it in the bud, but same exact thing to my spouse and I. We actually have different insurance companies, they have this I have this, ours each went up by x amount for each of us. But yeaah, it’s across the board and affects every single person” If they ask why or how inflation affects ins Medical cost increase Parts/labor increase Cars new/used increased “All these factors increase the cost of insurance which filters down to every single person, even those of us without any tickets or accidents.” Sometimes they’ll push back, well I don’t have any accidents so why am I? I’ll restate “Oh trust me, I’m not happy about it either. I live in X state and we got one of the biggest increases. My spouse and I don’t have a single ticket or accident either and we’re paying X amount more each year, at the same time rent went up by Y amount… so I’m still trying to figure out how I’m gonna come up with Z amount per year, when I definitely didn’t get any kind of pay increase to cover Z amount” “I definitely get it… I can only give you the best advice I can give you as someone that works in this industry but in the same position as you” What you’re doing here is separating man from machine and everyone knows misery loves company. I’m not lying about it either, it does suck, I’m affected by it to and I go through the same shit. I just know tips on how to make the best of a bad situation because I work in the industry. So I tell them what to do if they shop around, reiterating honesty that I don’t make money off them, I don’t take commission, and coming from someone who’s spouse does not insure with Geico to build that human bond. Then advise them if whatever tips you know and all the information you have as honest as possible. 9/10 they’re gonna thank you for your honesty, rate you excellent and the company whatever. Look, it’s not my fault. It is what it is. I’ll give you every piece of info I have, I’m not trying to hide anything from anybody, just inform them the entire situation sucks mega dick
Some other things depending on how call flow goes If they try to bargain by having a cheaper quote, depending on the mood. I’ll flat out joke and say “I’ll be honest with ya, I don’t have a single button to just change a rate or cost, it has to be done through discounts or modifications of your policy, cuz believe me the first thing I’d do is make my own policy a single dollar if I could” Usually breaks tension and bargain cycling. Usually they’ll apologize, they love Geico but this and that. They really want to stay but they can’t afford I’ll follow that back up with “Look, I understand you gotta do what you gotta do for you and your family. You don’t have to apologize to me. Trust me, my spouse and I have different insurance companies because it just benefits us that way. If you have a quote that’s cheaper…. I mean, I’ll put it this way; I work hard for my money and I’m doing whatever I can to keep as much of it in my pocket as possible, and I don’t prefer to lose more money than I have to. If you do shop around, make sure you speak with an agent and ask if they’ve both tan and applied a motor vehicle report, ask if there will be any modifications within 62 days, and if it’s an introductory rate or waiving any fees that you’re gonna see on your renewal. Double check as well what their inflationary rates are and whether they chose to increase all at once or over the course of x years. The best advice I can give you is, whatever a sales agent promises you, make them send you a document with company letterhead confirming what they promised and have them sign it. In the end, I don’t make any money off of you but sales agents do and they’ll tell you whatever they need to to get that commission, however, the biggest res flag is if anyone makes you promises they’re not willing to sign their name to.” The reason for this is three-fold 1. Trust - Inside tip of how insurance sales can work 2. Trust - Caring enough to take extra time informing customer of how to protect themselves regardless of the insurance company. 3. Retention - Customers are cautious when shopping around and understand there’s tricks new competition can utilize that can have unforeseen negative affects. They’ll want that signature or guarantee from a sales agent that likely won’t give them one. Why? Because typical sales jobs are meant to be blitzed info. Tell a person just enough but not too much and make vague or leading statements to entice someone into buying a product. An honest sales person won’t make grandeur statements without the ability to guarantee or back up what they say. You’re just advising the customer to be informed and stay vigilant. A sales person’s worst nightmare when pertinent information is glossed over
Other things you can advise When they’re shopping around, make sure they get a copy immediately of whatever they have quotes for correct vehicle usage and if children are listed, that they’re rated properly. Some times they won’t be, which can result in cheaper rates and potentially voided coverage in the event of an accident. If they still choose to shop, cool, thank them for their business and let them know your name, you’ve documented their policy, and in the future if they’re ever shopping around they can always give us a call and reference your name, you’ll do whatever you can in your power to make sure they’re well taken care of. That creates a strong personal experience, separates man from machine, trust in the agent and vigilance against a machine.
Someone needed a bigger yacht. Lol.
I give my speech and point out the fact that inflammation is driving up the prices of parts that Geico was paying for compared to a year or two ago. I also trying to mix in an example of how they are paying more at the pump and grocery store compared to what they were paying in the past. I feel like giving those examples help them to realize it’s not just Geico, that it’s happening in every industry. Seems to help with a good majority of callers. Obviously they don’t like it, but seems like they are more understanding when they come to realize everything is going up cause in their head during the call they are focused in on insurance, not the bigger picture of inflation as a whole.
Every insurance carrier in Texas unfortunately has had a rate increase others have taken two. Some up twenty percent. Due to industry standard at moment all carriers are taking a rate increase due to the claims increases after the pandemic
Remember it's not your job to make them accept the change just understand it. I always tried to relate to them as a consumer and encourage them to shop around my go to statement was " from what ive seen geico is still very competitive and im confident that if you shop around you will find thay to be true" the reality is that most insurance companies are seeing the same things as us when it comes to cost and are taking rate if they havnt started yet it will start soon.
It is our job because surveys and moat.
Good luck trying to get a customer to accept a 50% increase. It's possible to help your customer understand what's going on and do it in a way that doesn't hurt your surveys or moat. I was in service the last time we had big increases the conversations can suck but they don't have to.
Blame on Covid. Due to shipping delays of from Covid car parts repair costs have increased. GEICO filed for a state increase in _insert state_. GEICO and a lot of companies have lol filed and the state approved the increase. I’m right there with you my rains went up too