Objective

A large insurance agency noticed a slowing growth rate in the number of life insurance renewals. Typically, the renewal rate accounted for over 50% of the company’s annual revenue; however the rate had dropped to 47 percent.

Strategy

The company devised a strategy to reward new life insurance clients and increase the number of referrals from those new clients. Each new client received a gift of appreciation – a beautiful crystal bowl. The customer received the matching smaller size crystal bowl when they referred new business to the firm, or added a new auto or home policy. In this case the customer received a champagne ice bucket.

Results

The insurance agency considered this program a great success. Not only did they improve the number of referrals to 12 within six months, but their annual payments increased 10 percent.

Case study provided by Crystal-D, a partner of Lipic’s.

Crystal Bowl & Bucket Samples