Churn signals
Also called: retention signals, lapse risk, at-risk clients
Churn signals are changes in a client's data that suggest they may leave or let a policy lapse, such as missed payments, a change of address, no contact in a long time or a policy replaced elsewhere.
Individually, each signal is weak. Together, and ranked by the value of the client's book, they give agents a short list of who to call first.
The data for churn signals already exists in carrier records, statements and the agency's own files; it is just rarely put side by side.
Calling a client before they leave is far cheaper than winning a new one.
"The churn signals list puts the clients with a missed payment and no recent contact at the top."
How can an agency identify at-risk insurance clients before they leave?
Combine signals such as missed payments, address changes, long gaps since the last contact and policies replaced elsewhere, rank clients by the value of their book, and have their agent call first.
Related terms
On Kevlex Digital: Annual review campaign