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Why P&C Agencies Fail at Cross-Selling Life Products, and How They Can Improve

The difference in products and associated services are, in fact, vast; accordingly, the respective agents think, act and work differently, with neither truly understanding the others innate product lexicon.

By Peter Klein, Managing Director, Secor Advisors Group, LLC | Updated on June 19, 2013

In the world of insurance, agents are much more likely to retain clients for the long term if those clients hold numerous products through one particular agent relationship. When establishing and maintaining relationships with clients, it is essential to have the ability to meet the broad-spectrum needs of clients. After all, clients have a penchant for one-stop shopping.

In working with corporate executives, it’s beneficial to provide solutions to both their business and personal coverage requirements — as oftentimes these two are highly correlated. P&C agencies are a great source of clients — many of whom have complex asset protection and wealth preservation needs. 

It’s been our experience that a private business life cycle in combination with its owner’s management role cycle represents an opportunity for P&C agencies to offer multiple applications of life products including life insurance, disability insurance and annuities.

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