Review. Retain. Grow.

Personal Lines Clients needs constantly evolve and the only true method to assist them with these ever changing needs is with an annual insurance review. So if you're looking for a simple flexible solution for managing your clients insurance renewals, decrease your agency’s E&O exposure, and increase your retention and income we welcome you to UpdateMyFile.com 


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Annual Review

Annual insurance reviews are a critical step in your personal lines clients policy cycle. In an ever-changing world the need to stay informed has never been greater.

Decrease E&O Exposure

By selecting the same process for each of your personal lines clients' annual insurance reviews, you automatically decrease your overall E&O exposure.

Increase Retention and Income

When you conduct personal lines annual insurance reviews you are able to increase retention and account round which leads to an increase of your direct written premium.

How does it work?

SEE THE THREE EASY STEPS

To grow you must stop shrinking

Each year insurance agents across America create strategies for growth. This plan is usually focused on items such as advertising, the hiring of new producers, or target marketing. The general problem with these plans is the attention they take away from the importance of retention.

Agency growth is simple, before growth can be achieved, retention has to be improved. To put it simply, securing the back door of your business is as important as the welcome mat on the front.

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 Agent

$199.99

Per Year 

Perfect for an Individual Agent 


Includes

  • 1 Agent Code
  • Unlimited Reviews
  • Reviews include

Home, Auto, Life,

Motorcycle, Renters, Umbrella

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Team

$499.99

Per Year

Perfect for Small Companies


Includes

  • 8 Agent Codes
  • Unlimited Reviews
  • Reviews include

Home, Auto, Life,

Motorcycle, Renters, Umbrella


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Corporate

$999.99

Per Year

Perfect for Larger Companies


Includes

  • 25 Agent Codes
  • Unlimited Reviews
  • Reviews include

Home, Auto, Life,

Motorcycle, Renters, Umbrella


BUY NOW

Interested in customizing your annual reviews?

If you are looking for complete control of your personal lines annual insurance reviews by customizing each of your questionnaires, please click the link below for pricing details.

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FAQs

Answers to Common Questions

  • What is an annual insurance review?

    In its simplest form, an annual insurance review is a conversation between an agent and a client. This conversation should be designed to determine if any gaps have been created by changes in lifestyle, life stages, or economic status. 


  • Why should I conduct an annual review?

    Clients’ needs constantly evolve and the only true method to assist clients is to assess these changes in needs through an annual insurance review. The review process allows your agency to minimize potential gaps in coverage by introducing new product solutions which are specifically designed to protect their ever-changing needs. This customer touchpoint strengthens customer relationships, improves retention, generates leads, reduces E&O exposures, and actively demonstrates the professionalism and value of your agency. 


    Customers who receive annual reviews are far less price-sensitive and more likely to purchase additional insurance products and refer new clients at a much higher rate. Finally, results published NAIC and IIABA place the percentage of clients that say they want an annual review between 83 and 90%


  • Will conducting annual reviews help my retention?

    Agencies that establish good relationships with their clients and provide consistent service can keep their clients from focusing solely on price and allow clients to appreciate working with a top agency. But agencies that make an effort to build relationships with customers can positively influence retention rates. Agencies with high customer satisfaction levels have renewal rates 9 points higher on average than companies reporting lower levels of customer satisfaction - J.D. Power and Associates 2008 National Auto Insurance Study.* (http://www.iso.com/Research-and-Analyses/ISO-Review/Advanced-Analytics-Can-Improve-Customer-Retention.html)


  • How does an annual review increase my income?

    High account retention is important for an agency to consistently perform well from year to year. Retention rates average 95 percent among customers who bundle home and auto policies with the same insurance carrier and 92 percent among those who bundle auto and rental policies. Conversely, retention averages only 83 percent among mono-line auto customers and only 85 percent among policyholders who do not bundle their auto and homeowners insurance.* (http://www.insurancejournal.com/news/national/2009/04/22/99851.htm )