Intent to Cancel

[Tucker444]

how do you handle notices of intent to cancel due to non payment?

Do you notify the client? If so when and how many times? Do you reach out every time it happens? (Month after month)

I hear some say never get involved. But on the flip side isn't there an expectation from the client that we would try to reach them if we know they are about to be canceled and have no insurance?

Your thoughts...

 

[genz]

What do you get paid for...
A. Helping find coverage?
B. Making sure people pay their bills?

Or I guess I should ask what you want to be...
A. A professional.
B. A bill collector.

Sorry for being blunt, but I take my profession seriously and if you can't pay your bills on time then I don't have time for you. I'm not a bill collector, the companies have a billing department for that.

 

[Tucker444]

What do you get paid for...
A. Helping find coverage?
B. Making sure people pay their bills?

Or I guess I should ask what you want to be...
A. A professional.
B. A bill collector.

Sorry for being blunt, but I take my profession seriously and if you can't pay your bills on time then I don't have time for you. I'm not a bill collector, the companies have a billing department for that.

Not a problem. this is what I am looking for. I hope I hear from others.

 

[nbarnes]

I don't notify unless it's a cancellation notice.

What you need to make sure to do is have a consistent procedure in place no matter which way you go. If one month you notify but decide not to the next time it happens, you could have a potential E&O exposure.

 

[JP Savage]

I will reach out 1 time, and it's documented that I did reach out. If it's a client that is normally not late on a bill i'll reach out and use it an opportunity to reconnect and make sure they are ok, and again document.

If they are late a second time and cancel I do not call. When they call me regarding their policy cancelling we rewrite the policy, which usually means the premium has gone up. Then us it as an opportunity to educate the client on why it is their best interest to pay on time.

If it cancels a second time for the same reason, they need to move on to the next agent. Not worth the work.

I know some agents that call people every week regarding cancel notices, not me.

 

[joshb]

It depends on the client. There are some we want to get rid of , so no contact. Others that are good clients, yes we reach out to them. We make money on new business and renewals. A great way to make money is to keep it from leaving your agency and going to another. A lot of the time when we reach out to them they just forgot, but other times they're shopping and that gives us another chance to speak with them.