Trends Report

Making Online Insurance Cross-Sell Initiatives Work

Nine Tactics To Maximize Insurance Cross-Selling Performance

October 20th, 2011
With contributors:
Carrie Johnson , Beth Hoffman , Douglas Roberge , Elizabeth Stark

Summary

Two opposing factors line up to elevate the importance of getting cross-selling right for eBusiness and channel strategy professionals at insurers. Competition for US consumer insurance wallet share has heated up, and at the same time, insurance providers are interested in reducing customer acquisition costs. Both of these factors are driving eBusiness professionals at insurers to focus on selling more products to their existing customer base. Why? Multiproduct buyers are less likely to be lured away by other insurance merchants. Unfortunately, cross-selling performance by the top US insurers is not so hot due to a variety of challenges that complicate the online cross-sale. In this report, Forrester examines the profile of the US consumer buying multiple products from a single insurance provider, highlights companies that are successful at cross-selling and explains why, and outlines nine ways that insurance eBusiness teams can help improve their cross-selling results.

Want to read the full report?

Contact us to become a client

This report is available for individual purchase ($1495).

Forrester helps business and technology leaders use customer obsession to accelerate growth. That means empowering you to put the customer at the center of everything you do: your leadership strategy, and operations. Becoming a customer-obsessed organization requires change — it requires being bold. We give business and technology leaders the confidence to put bold into action, shaping and guiding how to navigate today's unprecedented change in order to succeed.