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Annual policy reviews and renewals

Your greatest cross-selling opportunity (especially to A and B clients) will almost always be during times of policy review and renewals. It’s the perfect window of opportunity to keep your customer aware of the benefits of a different policy they’re yet to invest in.

When your customer arrives for their review and renewal, ensure that you’re already aware of their potential needs. Use your CRM to see what cross-sell options should be relevant and valuable to this client.

Then, once you've introduced the subject and laid out the benefits to the client, consider offering them a free quote for the coverage they don't have.

Exclusive deals are popular among loyal customers. For example, if a customer who's coming in for renewal has an older teenager son or daughter, maybe think about cross-selling them the relevant auto insurance.

If the customer already has an insurance policy, ask them when the expiry date is,  and then follow up accordingly.

If the customer does not have the such a policy, then maybe now's the time to pitch the value of what you offering.

The value of Mini-Policy reviews

Every broker knows that a key benefit of the annual policy review is to find opportunities to cross-sell, but the problem is that typically only a minority of clients get this service.

So consider instigating a “Mini-Policy Review” for everyone else. Use it as an opportunity to ask a set of quick questions that’ll help you to identify new cross sale opportunities based on any life changes that your customer has had this year.

Keep it short and sweet so there's time to speak to everyone.

Your clients are constantly getting married, having children, buying motorcycles, starting businesses and lots of other things that can lead to cross-sales, and currently many brokers aren't picking up enough of this valuable information.