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Objective
Build and develop prospect database
Diarise and follow up all call backs
Ascertain renewal, broker, and policy type details etc
Generate Appointments
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Background
Excel’s involvement was sought
to assist in generating new business opportunities for general insurance
in the corporate market, starting with cold data sourced from local
directories. The working relationship was formalised in May 2001 and
continues on a successful basis.
The data
Cold data sourced via local directories.
No additional information apart from a company name and telephone
number.
Methodology
Following data validation, each company was contacted to gain details relating to their insurance cover. A Two Call approach was adopted. This method enables basic company details to be confirmed with the receptionist, including Decision Maker name, number of staff (Employer Liability cover), details of any company vehicles (Motor Insurance) and renewal dates if known. The follow up conversations are then typically conducted at Director level and these calls are undertaken by staff who have Insurance Industry experience. All relevant information is used to update the database and these details are used to form a highly qualified prospect list, complete with full information on company profile, turnover, existing policies and conversational notes.
The information is held on our purpose built Contact Management system and this enables a timely approach to be made to secure an appointment.
Results
The initial project provided the broker with a fully qualified list of 274 companies, including month of renewal as shown above. Following this success, the broker then sought Excel’s involvement on an ongoing partnership basis for all its follow up activities, together with further Telemarketing activities to maintain a continuing drive for new business. Excel’s involvement continues to generate a significant proportion of the broker’s new premium income.
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