How to Cross-Sell Insurance to Current Clients

November 21, 2017

Cross-selling is a great way to increase your sales while adding increased value to your clients. Sometimes cross-selling is as easy as a client asking, “Do you also do home insurance?” In that case, boom, you just got the cross-sale and provided quick and easy one stop shopping for your client. While that does happen every once in a while, your goal should be to initiate the cross-sale and increase your cross-sells over time.

Before we get into how to cross-sell more insurance to your clients, we have to look at the two distinct situations.

1.     Client already owns the product, but with another company. In this case your client may have multiple insurance plans spread across multiple companies, so the goal here is to get them to consolidate with your agency. This can take repetition, following up, and selling what benefits you can offer them over who they are currently with.

2.     Clients who do not already own the product. In this case, they may be buying life insurance from you, but do not currently have anyone for home insurance. The key with these clients is to inform them and educate them on the product, create a need for them, and then sell them the coverage.

While these two situations aren’t complete opposite, but each are addressed uniquely and need different sales approaches.

The best thing you can do to cross-sell insurance is to properly identify target products for each client. The key here is to make it as easy as possible for your client to make the leap into additional coverages. By knowing exactly what your client needs or is lacking, you can make the perfect recommendation for an insurance plan without making the client do much work.

You don’t have to immediately pitch a cross-sell. Address the most immediate needs first, if they are coming in for life insurance, get them set up with that first, and maybe start asking questions or planting seeds on other plans then, but don’t push too hard. Nobody wants to be sold to, so by addressing their needs first, you show that care for your client and don’t just see them as your next sale. Once you get to know your client, then start asking about other insurance needs they may have and how you can help them.

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