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What insurance agencies look like that get 3-8X more referral business

What insurance agencies look like that get 3-8X more referral business

As an insurance agent, you are forced to wear many hats. You are busy running around working with clients, dealing with insurance carriers, mentoring employees, measuring risk, …you name it.

And then there is this technology thing that is sweeping the planet. You would think it would make your life easier, but you are probably left playing catch up.

Sure, the big companies have all the bells and whistles. After all, they have the staff and deep pockets to leverage it. Not to mention the bottomless advertising budgets.

The good news? Technology has also been tailored to you.

Quote from Robert Rusbuldt

So don’t get swallowed by the wave of technology. Ride it. Embrace it. Leverage it.

At Rocket Referrals, we developed software that increases customer referrals and improves retention for insurance agencies. And it works. We recently compiled some data from our agencies that show how this technology is automating very personal communication, providing valuable feedback, and increasing revenue.

Supporting referral data

Let me lead with the results. After compiling data from insurance agencies using Rocket Referrals across the country we found an average of 3 – 8X increase in their annual referrals.

The graph below demonstrates three agencies have been using Rocket Referrals from 2 – 8 months. After implementing the software each agency has shown a steady increase in not only overall referrals, but average referrals per month.

Graph of referrals over time

In terms of revenue, the graph below demonstrates an average increase of nearly 80k in premiums for the insurance agencies.

Chart of premium revenue increase of Rocket Referrals agents

Averaging the premiums for each agency we saw a large annual increase in revenue from premiums coming from referrals alone.

This is good news for our clients. We also saw a tremendous spike in customer retention. The best part, the agencies only needed to provide us with customer data and report new referrals. As simple as data in, referrals out.

Your customer data is a gold-mine

Valuable customer feedback


Rocket Referrals is also designed to collect testimonials for our agencies. And boy does it work. We see an average of 30% of customers respond to our Net Promoter Score (NPS) survey, and an astonishing 5% gave a positive testimonial for the agency to share with others. So with an agency with 1,000 clients, expect at least 50 raving testimonials.
Thankfully, we built the system to notify the agents of vexed clients. Directly after a client rate an agency poorly the agent is notified via email with direct feedback. 9 times out of 10 the issue is able to be resolved and the client not only remains with the agency but becomes an active promoter.

Now, we collect testimonials because of the psychological effect it has on your clients. We get them talking about you publicly and thinking about referrals. But we also made them easy for your clients to share on Facebook and for you to display on your website.

Several clients have been using our widget to stream their testimonials directly from Rocket Referrals onto their website. We collect them, and we display them.

insurance agency website testimonials

Lovable technology


And of course, I have to mention our handwritten cards. We developed a process of printing cards that look so real that 95% of people don’t believe it even when we tell them it is printed. Real ink, quality stock, personalized communication, automated scheduling, and first-class stamps really resonate with our clients.
We understand that automation wouldn’t mean much if you couldn’t see the results. Therefore we built an interactive dashboard for agents to have fun tracking their success, browse customer feedback, identify trends, and see how they rank against other agencies in customer loyalty.

handwritten card envelope
Handwritten card message

That is my handwriting you see there. No, it is not perfect. That is why we give agents the choice of using their own script or choosing from several of our own. We’ve got left-handers covered.

Insurance agents will never lose the edge over direct providers with their personal and attentive service. Studies suggested it and the results prove it. Now you can too welcome evolving technology in a way that augments your strengths.

Why insurance agencies need to be proactive.

There is something the direct providers do not have. The ability to develop strong and personal relationships with their clients. They compete solely on cost and mascots, you operate on trust and service.

Did you know that in the insurance industry studies have shown that an astonishing 89% of satisfied customers indicated they are willing to refer a friend, but only 29% actually do?

This is lost revenue. In order to move the needle insurance agents must do all those things, they don’t have time for. Like sending handwritten cards, surveying customers, identifying and following up with disgruntled clients.

The truth is, most agents feel like they are doing these things. But research shows for the average client to make a referral they must be “touched” with personal communication at least 4 times a year.

It’s simple – without automation, this isn’t possible. Yet where most automated processes fall short is with the personalized component. Until recently technology has not been able to convey that required human element.

That is why Rocket Referrals developed the most advanced handwriting technology ever and teamed it up with its Smart Referral Algorithm. Working side-by-side they are able to profile each client and send dynamic and personalized communication that turns heads and induces referrals.

Testimonials from insurance agents that use Rocket Referrals
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