How to cross-sell insurance

How to cross-sell insurance

Tuesday, September 25, 2018/Insureon Solutions, Marketing

Insurance sales opportunities are everywhere, but some of the juiciest ones are right in front of you. Selling insurance to the clients already in your book is usually more efficient than prospecting. Plus, cross-selling typically has a positive impact on retention. Here’s how to cross-sell insurance to your current clients.

Start with realistic goals

Chances are you already have sales goals for your agents. Not only do sales goals give them something to aim for, but they also provide a measurement for success.

Cross-selling is just as important as prospecting, so it deserves the same kind of consideration. You may even want to make cross-sales a percentage of your team’s overall goals. Just make sure to:

  • Review historical sales data. Your past sales numbers can give you an idea of your team’s current capabilities. This gives you a baseline so you can set a realistic goal.
  • Consider seasonality. Any sales goal needs to account for slow times, especially if you plan to set monthly, quarterly, or biannual goals.
  • Evaluate your team. One agent may have a knack for commercial lines. Another may prefer selling homeowner’s insurance. Those preferences may impact the goals you set for each.


    Few things kill morale like unachievable goals. Do your homework so you can give your agents realistic targets.

    Analyze your client data

    In addition to reviewing sales numbers, you also want to analyze client data. Look through your database and organize your clients by:

    • Location
    • Lines of business
    • Age
    • Profession
    • Gender

    That information can help you build client profiles. You can use these to identify which groups need additional insurance products and create marketing materials to target them. In fact, segmenting your client list makes email marketing much easier. Get more ideas in “3 email marketing tips for your independent insurance agency.”

    Set up a system

    Sometimes a cross-sales opportunity falls in your lap, but you don’t want to rely on luck to build your book. That means you need to develop a system to make sure cross-selling happens. For instance, you might want to track every client’s renewal date. Then you can send emails at regular intervals that introduces policies they may need.

    Here’s how that might work. Let’s say you have a new homeowner’s insurance client. Six months before her policy expires, you might send an email with tips for saving money on her insurance. Three months later, you could share a blog post explaining how renovations might impact home insurance premiums. As the renewal date gets closer, you can send reminders that it’s time to review her policy.

    You may also want to name a producer as a cross-selling lead. That way you have someone running point and making sure no insurance sales opportunities fall through the cracks.

    Cross-selling insurance may take more planning than you expect, but the results can be worthwhile. Luckily, you already have potential sales close at hand. Learn about them in “3 cross-selling opportunities already in your book.”