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How Insurance Agents Can Automate Their Cross-selling Process

The conversation around the insurance broker’s activity usually revolves around ways to get new customers through the door and sign them up. But there’s another strategy you should pay more attention to: insurance cross-selling.

This method refers to selling products to the customers you already have. Which can greatly increase the revenue you bring into your agency, while not spending so many resources on cultivating new relationships with clients. Cross-selling, however, can get a bad rap.

After all, you’ve signed the client already, why bother trying to get them to buy more products? It can get annoying really fast, and you can risk losing the client altogether. Yes, that’s a possibility, but with a good strategy behind, you won’t have that issue. And the strategy is a lot easier to implement if you automate the process.

Here are some great tips for automating your cross-selling process and increase revenue in your insurance agency. 

But First, What Is Insurance Cross-Selling?

Cross-selling can be a great strategy to help you increase your insurance product sales. It’s important to understand exactly what it is. Sometimes, cross-selling and up-selling are used interchangeably, but they are different:

● Cross-selling: selling a product that is complementary to the product the client has already bought

● Up-selling: selling an upgrade of the product or a better version of it. 


For instance, if you’re signing a new client for health insurance, a cross-sell would be to offer them a dental insurance policy as well. This second policy can complement the first by offering more coverage. An upsell in this context would be a health insurance policy that is upgraded, meaning it is more expensive and covers more health issues than the previous one. This is an essential distinction to make. Cross-selling will only work if the products you are proposing to your existing customers are complementary to the ones they have already bought. Otherwise, it can be a lot more difficult to make the sale, and the client may feel bombarded with offers.

Tips on How to Automate Your Cross-selling Process

Think of insurance cross-selling as a way of adding value and delivering great solutions to the clients you have. When the products you are proposing are the ones your client may truly benefit from, it won’t come off as just a pushy sales move.

These tips will help you automate various processes of cross-selling, which means the process can be a lot more accurate.


1. Nurture the Existing Relationships from Day One

One key component with cross-selling is to have an established relationship with the client. Your relationship should go beyond just getting them to sign a contract. You need to take your client lists and evaluate risks and opportunities with each of them to see where your weak points are. Analyze clients that could potentially leave. And choose clients that are most likely to be open to additional products.

The secret to nurturing a strong relationship with clients involves going beyond the boundaries of the business relationship. You will most likely already collect a lot of information on them. So use it to spark the line of communication. For instance, you can set-up automatic emails to go out on their birthdays, and wish them a happy day. It’s a small gesture that a lot of clients will appreciate because it shows you are going the extra mile to do something nice.

This way, they can feel they have a connection with you that goes deeper than that of a client-insurance broker. As a result, they will be more receptive to hear about any great opportunities you have to offer.


2. Digitize Your Data

Unless you only have about 5 clients, it can be difficult to analyze each of them recurrently and see which of your new products could interest them. This is where automation comes in very handy.

You need a customer management system (CRM) that can help you make sense of your customer lists, such as Scoro or EngageBay. Use these apps to classify your client list based on different criteria that make sense for you. Consider using info such as the location they reside in, age, occupation, and others. You can then have loads of lists of clients that you can consult to see which would be more interested in a particular product, and then get in touch with them.


3. Embrace the Powers of Email Marketing

Email can be your primary line of communication for cross-selling. For one thing, it can help you reach a lot more clients at once. You can create email messages and then use an email marketing platform to personalize them for each client with ease. It takes a lot less time, and it may be seen as less assertive than directly calling the client. Through an email, you give them the chance of consuming the content at their own pace.

You can use email marketing to also inform your clients on various trends in the insurance world. Do this before you try to push for the cross-sell. When your client understands more about what goes on behind the curtain, they may be more open to embracing the products you are offering.

Use the information you have on your clients to create automated email campaigns based on what you know about them.

4. Remarket, but Don’t Overdo It

It’s unlikely you can convince your clients to sign for a new product after just one email. So keep that in mind when you’re constructing the email campaigns.

Instead of bombarding them with loads of information in one email, try to disseminate it through 2-3 ones. This can give them sufficient time to think about what you are offering and see if they want it, or if they have any questions about it.

A possible email strategy could be:

● Initial emails where you lay out an issue, and its solution (which is your product).

● Follow-up emails with additional information on the solution, and a sales hook that encourages them to get in touch with you.

● Reminders to take you up on your offer or give you a call.

Remember to include a call-to-action button in every email, so that if a client wants to get in touch with you, they can do it right on the spot.

5. Ask Them About Their Experience

Create a habit to check in with your clients and ask for their experience with the policy. You can program automated messages to go out at a specific time, like 3 months after you’ve signed a client. Check to see what they think of the policy. If they have any questions. And encourage them to get in touch with you.

You can set up reminders that will let you know when it’s time to check in with a particular client. If you can, try to get in touch with them on the phone at least twice a year, and use that time to cultivate your relationship even more. For instance, if you know their child just started a new school, ask about how they’re doing. It may seem like a small thing to do, but it’s moments like these that help you create a better bond with your clients and help you automate your cross-selling process.

6. The Final Pitch Should Be Personalized

When the client is getting in touch to find out more about your offers, and you have the chance of making the final pitch, make sure everything you are saying outlines how beneficial that product is for them.

This is where the other steps of cross-selling automation come in handy. Take the information you have about your client, and see what added value your product brings into their day-to-day. When you already have a relationship with them and can access information about them quickly, this is obviously a lot easier to do.

Over to You

There is an art to insurance cross-selling, but it’s not one you won’t be able to master. Cross-selling definitely helps you increase your portfolio. Increase the number of opportunities you have. And nurture the relationship you have with your clients. But it’s important to remember that you’re doing it as a way to truly offer your clients something they could benefit from. The revenue, though important, should come second in your mind.

Technology can truly help us perform our jobs better. And it’s necessary to embrace new methods and strategies to be able to keep up with the times and offer clients the best possible services.

If you want to find out more about how you can automate your cross-selling process, we can help. Reach out to us at Lift Local. We’ll help you find ways to improve your broker-client relationship and cross-sell them relevant insurance products!