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Cross-Selling 101

It's a no-brainer: Cross-selling insurance improves retentions, increases profits, and strengthens relationships by offering customers everything from life to pet insurance. But while there are no statistics on how many independent agencies are actively cross-selling to their customers, many experts say theyre not doing it as often as they shouldin...

By Laura Mazzuca Toops | Updated on August 01, 2014

It’s a no-brainer: Cross-selling insurance improves retentions, increases profits, and strengthens relationships by offering customers everything from life to pet insurance. But while there are no statistics on how many independent agencies are actively cross-selling to their customers, many experts say they’re not doing it as often as they should—in spite of the fact that their survival in today’s customer-driven environment may depend on it.

“With commoditization of personal lines auto and the coming assault from the direct channel on small business, agents must realize that it is difficult to position themselves as efficient and profitable when operating as an insurance vendor who takes orders and quotes business rather than as a professional trusted advisor providing guidance,” says Tom Barrett, president of the Midwest and Southeast regions of the SIAA Inc. agency network. ”The majority of agents are not cross-selling, but the informed ones serious about their future are.”

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