An insurance agent’s guide to cross-selling more insurance policies to existing clients


Let’s talk about what exactly cross – selling is. Cross – selling is nothing but selling a different product or service to an existing customer. An insurance agent has lots of opportunities with clients to cross – sell other insurance policies. For example, as an agent, you can consider cross selling health insurance policies to those who have bought car insurance from you. There are a few things to consider before doing so –

Know your system – It is important to have a system in place to carry out a cross-sale if and when the situation arises. You should always be prepared to seize an opportunity to cross sell like knowing how to plug another product or service into the conversation when you see the discussion going in a way where it is favourable to mention another beneficial product.

Identify products for each customer – It is important to know the products you are selling inside out. Every customer profile is different. Their needs and requirements are different.  Try to identify what they need and see if you can fill the gap. When you know your product really well, this should be very easy to do.

Handle with care – The way the first sale goes down is crucial to building a long – term relationship with the customer. Done right, then you have paved the way for making another sale. Customers need to have a good buying experience with you before considering making a purchase for the second time.

Practice makes perfect – As an insurance agent you have a duty to yourself to keep practicing pitches for a sale. But you should also practice your pitches for a cross – sale so that if and when a cross selling opportunity arises, you are ready for it. Practice gives you the fine- tuning before an actual sale goes down.

Research, Research, Research – When gathering important information from your client in order to give a quote on their first possible purchase, pay attention to the details. Clients can give away a lot about their lifestyle when asked the most basic of questions. Being alert to what their needs are is handy as you might find an opportunity to cross – sell. A need is a necessity. Identify the need, and the clients will find the necessity to purchase.

Routinely conduct Policy Reviews – Gather information on important updates in client’s lives. When there is a big change such as someone being married into a new family, or if someone just gave birth to babies, or if there are plans to retire soon, obviously their insurance policy requirement are bound to change. This is a great way to update your files on the client as well as find new opportunities for cross – selling insurance policy.

Social media is your friend – As a platform, social media is great to use to keep cross – selling. There is an extremely high chance that the people who follow you have already bought a plan from you. So push out information catering those who can buy something else from you. If someone has bought health insurance for them self, write about how their parents or their children would benefit from another type of plan.

Renewals to fall on the same date – Most people can be convinced to buy something if they don’t have to do so much paperwork repeatedly. So ensure whatever plans have been bought all expire around the same time. That way you can have all the renewal paperwork ready on the same day for all the plans. It is convenient and less of a hassle to both you and the client.

Have patience and trust us, it pays off. Cross – selling has ample benefits for your business. Your customers can be retained for longer. Seamless service from you and their sense of loyalty grows further solidifying your position as someone who can advise them and not just sell for the sake of selling. And, if you have sold your clients two different types of insurance, that’s twice of a chance of being referred to someone in those respective industries. Selling a car to somebody and then cross – selling health, the client is more than likely to tell people who are interested in buying a car and other people who want to purchase health insurance. Double win for you!

Read more about how to boost insurance sales

Read more how to open an eInsurance account


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