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Cross Selling Tips for Agencies

COVU Insurance Insurance Agency Agency Tips Blog Cross Selling Insurance Advice
Congratulations! You managed to get a new client for your agency. But even though the initial sale is over, you should still remember your clients as a source of new income. Updating clients' insurance plans, or cross-selling, is an essential next step in the customer journey.
Cross-selling isn't just about making you money, however. It's also about creating more value for your clients. But it can be a complex topic to bring up, and when done incorrectly, it can be disastrous for your client relationships. Here are some ways you can go about Cross-Selling that won't alienate your customers.

  1. Keep Your Clients Informed Of Your Products

How can you expect to sell them anything if your customers don't know what you offer? Fortunately, this problem is easy to address. Starting when you first sign a customer up for insurance, give them easy access to information on your products.

This could come in several forms. A tried and true method is your website. Where customers can access lists of coverages and peruse your offerings on their own time, it's best to keep these pages near a customer's account information. Make sure that cross-selling is always just a click away, no matter why they visit your page.

Other options include bundling your product offerings with newsletters, social media tips that mention your different products, and even adding your lists to

The most important thing is ensuring customers come across this information as organically as possible. If someone feels like they are being bombarded with messages, they will look at any cross-selling attempts in a much less favorable light.

2. Know When Not To Push

No matter how you reach out to customers, it is important to approach them in a non-aggressive manner. Studies show that being too pushy with your sales will often have the opposite effect you're hoping for. So keep it loose and be prepared to wait a while before trying any of these outreach techniques. Take the time to understand your customers and what products would be of the most value to them.

3. Debunk Common Misunderstandings

One reason your clients may not want any new insurance is that they may not have the necessary understanding of your product offerings, what is relevant to them, or how covered they should be.

For example, A customer may have had renters insurance with your agency and think that is everything you can offer. So when they go on vacation, they would not purchase travelers insurance with you. Or they simply don't understand what different types of insurance cover and so opt out of a plan that would be beneficial. Customers are also bad at understanding exactly how much coverage they might need—often purchasing less than is advisable.
As you discuss cross-selling options, it is crucial to bring up common misconceptions to provide a clear picture to your customers.

4. Keep Your Eyes Open

Often customers will be unaware of the many options available to them. A good strategy when cross-selling is not to wait for your customers to come to you and instead go to them.

Be on the lookout for opportunities to bring up cross-selling naturally. These include Major life events like a marriage or the birth of a child, A change in your customer's existing policy, and policy reviews. All of these allow your agents to bring new products to the table.

5. Highlight Savings

What customers often don't understand about cross-selling is the potential savings that come with it. Policy combinations are more customized and, as such, can save your consumers up to 25% in some cases. This selling point is perhaps the biggest draw for consumers, so you should be ready to explain it anytime. Again, you shouldn't push anything, but by mentioning the discounts you give when customers bundle insurance will interest most of them. Not everyone understands cross-selling, but all your customers understand saving money.

6. Ask your clients questions.

You should find ways to ask questions naturally during your customer's journey. When done well, simple questions have the dual benefit of making your customers feel appreciated while allowing you to learn more about them. The more you know about your client's health, finances, or family, the better you will be able to raise their awareness of insurance solutions.
When it comes to cross-selling, remember to be patient. Not every client will be open to cross-selling even if they need it. But stick to the tips above, and trust opportunities will come.