Customer downsizing:  beat your competitors 

If competitors are shooting you down at renewal time by offering your customers higher deductibles or other premium-cutting incentives, why not beat them to the punch?  

Contact customers well before renewal and use every risk management technique possible to downsize their premium.  

It may be a problem at mid-term, but keeping the account in the long run should prove well-worth the effort.  Using the downsizing technique opens a lucrative prospecting opportunity.  Point out the savings on the renewal premium, then ask for the name of five friends for whom you’d iike to provide the same type of savings.

           Source: Frank J. Herberg, CPCU, Agency Development Coach