LEWISVILLE, Texas (PRWEB) May 07, 2015 – EZLynx has released a new, patent-pending personal lines policy renewal tool called EZLynx Retention Center, available to purchase as an add-on exclusively to EZLynx Management System customers.
“We are extremely proud of this product. It has taken nearly 24 months of hard work to go from conception to release, and it’s as revolutionary as our original real-time rating tool,” Nag Rao, EZLynx CEO, said during his announcement last week.
EZLynx has invested significant resources in building solutions to help independent agents succeed in an increasingly competitive industry. “We strongly believe that personal lines independent agents are under direct attack. One of the most important things a small agency can do to combat this challenge is to focus on retaining as many customers as possible,” Rao continued.
According to the announcement, EZLynx Retention Center addresses the daunting task of renewal management. With Retention Center, agents no longer wait for the customer to call and complain about rate hikes at renewal. Instead, EZLynx automatically identifies those customers likely at risk of not renewing so that agents can focus their efforts in the right place. The tools are then provided to proactively manage the retention effort.
EZLynx was able to identify the average retention rate across all EZLynx users as roughly 75%. During their beta testing, EZLynx worked with five large agencies to gauge the type of results that could be seen with EZLynx Retention Center. They found that agents were able to achieve a 90-95% retention target within three months by using the tool in combination with a structured process. For a book size of $10M, that’s at least $100,000 in additional annual revenue when starting at a baseline retention rate of 80%.
“EZLynx Retention Center is a powerful tool that can help your business become more profitable,” Rao concluded. “We invite all independent agents that are serious about maintaining a competitive edge in this industry to take advantage of the tools we have to offer.”
To watch a customer testimonial video or to contact EZLynx:
About EZLynx: EZLynx®, long established as a pioneer in the insurance software industry for over 10 years, develops industry-leading cloud-based software that helps independent agents operate their businesses more effectively.
EZLynx is proud to be the innovator of several products that the insurance industry had never seen, including: Real-time rating, Retention Center, Agency Pulse™, Policy Sync, eSignature integration, and a unified rating and management system.
- Political reaction: Republicans propose The American Health Care Act
- State Farm reports $1.2 billion pre-tax operating loss in 2016
- DOL aims for initial 60-day delay in fiduciary rule effective date
- Report aims to put a stop to ‘Use It and Lose It’ homeowner policies
- Most LTCI claims begin and end at home; insurers pay out $8.65 billion in 2016 claims, new data confirms
- Record-setting fixed, FIA sales in 2016 can’t keep overall annuity sales from 6% decline
- 2nd annual ‘Insurance Careers Month’ trumpets fact 93% are proud to work in the industry; rallies recruiting efforts
- MetLife annuity and life products officially rebranded under Brighthouse Financial name