Cross Sales, the Formula

bobson · 02-05-2009, 12:16 PM

Okay, I've not found a great discussion on cross-selling. Let's put together a great faq on the process. One we can all use and enjoy.

I don't care if it is life to health, health to life, life to P&C, P&C to health, health to DI, DI to Pre-paid Legal... Whatever.

Successful cross-sellers fire away please.

nilro · 02-05-2009, 01:41 PM

Easy way I think is have to have into need to have.

They have to have the P&C and need to have life and health.

Get them good rates on the P&C and they will trust you on the Life and Health (and other crap we peddle)

Don't know how you life and health guys do it without the P&C, but more power to you.

insuranceexec · 02-05-2009, 01:52 PM

Originally Posted by nilro

Get them good rates on the P&C and they will trust you on the Life and Health (and other crap we peddle)

Don't know how you life and health guys do it without the P&C, but more power to you.

I do not peddle "crap"; I offer my services.

If you already think it is crap, then you are correct; nobody will buy it.

Frank Stastny · 02-05-2009, 05:05 PM

Originally Posted by insuranceexec

I do not peddle "crap";

I don't either. But, if one is into that I have a whole, big, huge, aromatic, still steaming mountain of goat crap that is there for the taking.

The one thing that will piss off a client quicker than anything is to take a policy with an agent and then have that agent pester the hell out of them to buy additional insurance.

That is what the debit guys do in the projects. Sell a small life policy and then go back every month to collect the premium and try to sell them more life or fire insurance.

I couldn't do business that way. All of my clients know that I have other kinds of insurance available if they discover they need some.

fondyagent · 02-05-2009, 05:38 PM

Cross-selling shouldn't be pestering. It should be about follow-up, customer service and developing a relationship.
For example, if J buys auto insurance from you, you should call him up next week to make sure he received the policy and to see if he has any questions. Then do annual reviews to ensure he is properly covered. When J comes in to make his payment, ask him what he did over the weekend. If he went for a ride on his cycle, inform him that you sell cycle insurance and offer to quote it. Make sure to tell him about the multi-policy discount.

I agree that shoving policies down people's throats is not the way to go. But what is the point in selling them auto insurance if they are going to lose everything they have because their cycle wasn't insured (because you didn't offer it to them and they didn't think it was necessary)?

Frank Stastny · 02-05-2009, 07:01 PM

Originally Posted by fondyagent

Cross-selling shouldn't be pestering. It should be about follow-up, customer service and developing a relationship.
For example, if J buys auto insurance from you, you should call him up next week to make sure he received the policy and to see if he has any questions. Then do annual reviews to ensure he is properly covered. When J comes in to make his payment, ask him what he did over the weekend. If he went for a ride on his cycle, inform him that you sell cycle insurance and offer to quote it. Make sure to tell him about the multi-policy discount.

I agree that shoving policies down people's throats is not the way to go. But what is the point in selling them auto insurance if they are going to lose everything they have because their cycle wasn't insured (because you didn't offer it to them and they didn't think it was necessary)?

I totally agree. The problem arises when overly aggressive agents, I'm being kind, think they can go on an appointment and sell two or three different policies before they leave.

I think I did mention that I let my clients know that I have other kinds of insurance available. I will follow-up with them if they indicate interest but I don't believe in hammering them the way some agents do.

robliano · 02-06-2009, 03:16 PM

About 50% of the time I add on an accident plan to my clients polices on the first call by asking the following question:

"How important is emergency room accident coverage to you?"

Because they may assume it's covered on an IMM, and we all know it isn't.

Then I build the value in the accident plan based on a need they might not have realized they even had.

1manshow · 02-06-2009, 03:30 PM

We subscribe to the same theory of building the "value" from the initial interview. Our agent informs every new P & C client we will be in contact with them again when we feel they can benefit from our service. Of course they are all diaried for follow-up at 30-90-180 days as part of our welcome package so most add-ons, etc are covered in those calls.

bill3173 · 02-06-2009, 03:34 PM

Originally Posted by nilro

easy way I think is have to have into need to have.

They have to have the P&C and need to have life and health.

Get them good rates on the P&C and they will trust you on the Life and Health (and other crap we peddle)

Don't know how you life and health guys do it without the P&C, but more power to you.

I'll tell you how, we take clients from you and other p&c agents who know less than nothing about health insurance and very little about life.

What's more than that, most of the time, after they buy their life and health from me, they want me to handle their auto and P&C.

robliano · 02-06-2009, 03:47 PM

I'd have to agree with that, I get clients asking me if I do auto, alllllll the time.

Originally Posted by bill3173

I'll tell you how, we take clients from you and other p&c agents who know less than nothing about health insurance and very little about life.

What's more than that, most of the time, after they buy their life and health from me, they want me to handle their auto and P&C.