Insurance Agencies need to Cross Sell their Book of Business

Most Insurance Agents that only sell Auto Insurance are having a tough time staying afloat in today’s market. ┬áThe number one reason agencies don’t sell additional products is because they don’t understand how to rate, underwrite or sell other lines of business. In this market you need to offer something your competition doesn’t and additional products that can save clients money is a great angle to take. In various interviews with agency owners we’ve heard (literally) 100’s of excuses for not cross selling their existing book. Unfortunately you can’t wake up tomorrow and decide to start selling Homeowners Insurance. It’s a culture you need to create within your agency and your clients have to be made aware that other coverage’s are available. Here are a few ideas to get started:
  • Contact carriers and/or your Insurance Association and take advantage of the training they offer.
  • Make attending training mandatory for all CSR’s and Sales Agents.
  • Offer EVERY client that calls, emails or walks into your office a quote on other coverage’s. Don’t ask “Would you like a quote on your Condo”? Assume they want the quote and ask what the current coverage’s are so you can compare apples to apples.
  • Any mail that is sent to clients should include an insert that mentions you offer other lines of business.
  • Have contests in your office for Cross Selling. Reward them handsomely.
  • Publish cross selling stats in your agency and make it a big deal.
  • Overcome the fear of quoting the unknown and don’t be afraid to make a mistake.
  • Focus some of your marketing dollars away from auto and into other lines of business.
The biggest challenge in selling additional lines of business is the lack of product knowledge. If you knew how to rate Homeowners coverage as well as you know Auto, you’d market and sell it effectively. Get out there and learn this coverage so you can grow your book and earn more commissions than you do now. Stuart Ganis Ganis Consulting is a California based firm that specializes in operations consulting for insurance agencies and brokering acquisitions between agency sellers and buyers. Visit them on the web at or by calling them direct at (310) 937-6200.