Inspiration Program for Life Insurance Sales Force/Customer Retention

Primary Challenge: Reduce turnover within the field sales force, particularly in the first two years, when it is extremely high.

Secondary Challenge: Increase persistency among policyholders during the first two years, when lapses are particularly likely and damaging to profits.

Actions: Collect and publicize stories of how life and health insurance has helped policyholders. Provide these stories to agents, so that they can be reminded of the great good they do for people. Make these stories available to current policyholders on the company website and in consumer newsletters.

Results: This has helped motivate agents during their difficult first 24 months. It has also helped them develop an evangelistic passion that communicates itself to prospects, increasing the sales close rate (which also helps improve agent retention). Making these stories available to current policyholders has graphically reinforced the reasons they bought insurance in the first place, reducing policy lapses.