Understanding X-Dates and Managing Them in Better Agency

Turn lost sales into future wins with Better Agency’s tracking and automated renewal campaigns.

Video Walkthrough:

What Are X-Dates?

• X-Dates are shorthand for expiration dates of insurance policies.
• They represent an opportunity to revisit and attempt to win back sales that were initially lost (e.g., due to high rates, underwriting, or other reasons).
• By tracking and managing X-Dates, agencies can engage prospects when their current policies are up for renewal.

Why Are X-Dates Important?

• Ensures no sales opportunity is wasted.
• Helps initiate timely campaigns and conversations with prospects when their policies near renewal.
• Provides data for prioritization and follow-up, improving chances of closing high-value policies.

How to Track and Store X-Dates

One-Off Scenarios

1. Collect Information:
   • Ask prospects for their policy’s start date, carrier, term length (6 or 12 months), and premium amount.
   • Document the reason for losing the sale (e.g., high rates or underwriting issues).
2. Store X-Dates in Better Agency:
   • Add the X-Date directly to the prospect’s contact profile.
   • Example: For a policy starting today, set the expiration date as one year later.

Bulk Upload from CRM or AMS

1. Prepare a CSV file with contact information, including X-Dates.
2. Navigate to Add Contacts > Import Contacts in Better Agency.
3. Map the "X-Date" column to the expiration date field in the system.
4. Specify that these are prospects and confirm opt-in permissions for text messages.
5. Review and confirm data mapping before completing the import.

Managing X-Dates in the Sales Pipeline

• When a sales opportunity is lost:
  1. Move the contact to the "Lost" stage in the sales pipeline.
  2. Initiate an X-Date campaign to automatically schedule communications (emails, texts, and tasks) starting 60 days before renewal.
  3. Review and edit campaigns as needed.

Campaign Management

• Campaign Overview:

  • Default campaigns include notifications, emails, and texts at 60, 40, and 30 days before the X-Date.
  • Campaigns can be customized for personal or commercial lines.

• Customizing Campaigns:

  1. Go to Campaigns > Post Pipeline Campaigns > X-Date Campaign.
  2. Modify tasks, emails, or texts as needed.
  3. Adjust campaign triggers to start earlier or include additional touchpoints.

Using Reports to Prioritize X-Dates

1. Access Sales Reports > X-Date Reports.
2. View contacts with upcoming X-Dates, lost carriers, reasons for loss, and premium amounts.
3. Sort by premium to identify high-value opportunities.

Best Practices

• Always document the reason for losing a sale, the carrier, and the premium amount.
• Regularly review X-Date reports to prioritize follow-ups.
• Customize campaigns to suit your agency’s workflow and target audience.

By following the steps outlined above, you'll be able to effectively manage X-Dates, engage prospects at renewal, and increase your win-back rate.