Declining top-line revenue and bottom-line results for several years as a result of the downturn in the economy.
LCIS had been struggling with declining top-line revenue and bottom-line results for several years as a result of the downturn in the economy, increased competitive pressure, and tired sales practices and staff. The newly-promoted president knew changes needed to be made.
TriFit Insurance Business Development was hired to complete an assessment of the current staff and processes, followed by a one year engagement of sales training, development and recruiting services to re-energize the existing staff while hiring a new sales manager and several producers.
In the first full year after TriFit’s program, LCIS’ new business written premiums were up 52% over the prior year, renewal retention ratios increased, and quote-to-bind ratios were up and well above industry standards.