Understanding why a potential new business deal didn't materialise is key to honing your strategies and identifying future leads. It's crucial to accurately record the reason for each lost opportunity to improve your approach effectively.

Breakdown of Lost Opportunity Reasons:

Cancelled in Cooling Off: The case was initially accepted, but the client later cancelled the policy.

Couldn't Provide Cover: A quote could not be offered due to the client's risk profile.

Duplicate: Multiple entries of the same lead occurred; only one record should be kept.

Fake Details: The lead provided false contact details, such as an invalid phone number or email address.

Lost on Price: Although a recommendation was given, the client opted for a less expensive alternative, regardless of the coverage differences.

Not Enough Risk Info – No Response: Despite reaching out, sufficient information to provide a quote was not collected, and no further successful contact was made.

Quoted – No Response: A quote was sent to the client, who has not responded since.

Too Late – Already Arranged Cover Elsewhere: By the time contact was made, the prospect had already secured coverage with another provider.

Too Short Turnaround to Quote: The complexity of the risk prevented obtaining a quote in time for the client's renewal date.

Unable to Make Initial Contact: Despite several attempts, initial contact with the lead was never established.

Recording these reasons meticulously will provide valuable insights that aid in refining your methods and targeting leads more effectively in the future.