Insurers’ Best-Kept Secret

Here’s why insurance companies struggle to cross-sell their customers.

For decades, diversified insurers have doggedly pursued the Holy Grail of their industry – getting customers to purchase multiple types of coverage.

 

Success has been elusive, and a recent study by LIMRA offers a surprising explanation why:  Many consumers don’t have a clue that their insurer even offers other products.

 

Insurers aren’t trying to keep those other offerings a secret, but that’s effectively what happens given how they communicate with consumers.

 

In the latest issue of LOMA Resource magazine, Watermark Founder Jon Picoult explains why insurers’ cross-sell messages fall on deaf ears, and what they can do differently to engage their policyowners in a more productive cross-sell dialogue.

 

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