Ways to Avoid the Year-End Panic

It’s almost here. The end of another year.

The visits, calls and emails I’ve been receiving from agents in a panic have sky-rocketed.

I realize it’s late in the year, but despite how little time is left, there is still no reason to panic.

If you panic, you will most likely find yourself making decisions you will regret — maybe not immediately, but certainly sometime early next year.

Here is my list of 5 ways to avoid the year-end panic:

1. Hold firm on coverage protection.

As tempting as it might be to offer stripped coverage right now to make a sale, doing so can create huge issues if you expect to get any cross-sell business from them next year.

Stripping coverage ‘bare’ to discount rates can send a message not only to your customers, but also to your prospects. As soon as you become known for that, you’re in trouble.

2. Double-check your carrier’s ability to underwrite policies.

Nothing will create more panic for an agent than getting the year-end application, only to find your carrier unable to process it.

3. Monitor your customer’s hours/days of operations.

Don’t allow yourself to suddenly find the customer to whom you’re looking to get a signed application from, closed for the holidays. Every year I hear from agents in January who are complaining about how their previous year’s production goals were missed because applications they had submitted were never underwritten and/or commissions paid before year-end.

4. Keep working the phones, contacting your customers and prospects.

Now more than ever is a phone call the right approach. Emails can and will get lost. If you’re chasing business, then people need to know you’re out there and making things happen.

5. Finally, be ready for surprises.

Yes, the phone will ring, and the last thing you want to do is not answer the call or be too slow to respond to a customer looking for the last minute policy before coverage cancels.

Since you’re in the insurance business, this can be huge because many of your competitors may shut down for a few days and you want to be the one to pick up their business.

Use this time of year as a sales gift to you and your company.

While competitors start slacking off for the holidays, you can be the one to pick up their business and make customers happy.

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