How Agents Can Market Life Insurance to Current Customers
Every salesperson is always trying to find ways to add on more policies within the same household. Statistics show that when an agent has more then one policy in the same house, retention rates tend to be better. Cross-sold clients retain at 92% versus 78% for single-product customers. Each additional product sold to a current customer increases retention by about 5%.
There are many ways that you can approach your client to keep them engaged and keep yourself relevant as their agent. When it comes to selling life insurance, there are many cross-selling opportunities available to keep your clients engaged. Cross-selling not only offers a way to grow your book of business, but it also enables agents to cement themselves as thought-leaders and experts, a proactive force working on behalf of their clients’ best interests. This way, when another agent approaches your client, they won’t be able to replace the business you have them in. These three simple steps below will help you sell more insurance:
Complete a Card Campaign
This one is fairly straightforward, but if offers a simple way to stay at the top of your clients’ minds when it comes to their insurance needs. By sending personalized cards to your clients, you can stay in contact with them to establish yourself as an ongoing resource to assist them with their needs.
There are a variety of cards that you can send your clients throughout the year. Sending a “Thank You” card after the sale is a best practice for many agents. If you do decide to go with this option, remember not to thank them for doing business with you; instead, thank them for taking the time to meet with you. Having these conversations about their needs is an important part of the sales process, but time is a valuable resource for everyone. That’s why it’s so important to thank them for setting aside their time to speak with you.
Here are a few other occasions when you could opt to send your clients a personalized card:
- Birthdays
- Anniversary
- Holidays
Need some help with creating these custom cards? Pinnacle offers in-house creative design services for our agent partners to help them access customized design assets – both print and digital. Feel free to reach out to our design team directly to get your project started!
Complete an Annual Policy Review
Annual policy reviews are a critical part of building long-term trust and delivering real value as an insurance agent. Life changes quickly; clients may experience shifts in income, family structure, health, or financial goals within a single year. Have they recently aged into Medicare, and they are in need of assistance navigating these ever-changing policies? Or maybe they are seeking options to find the best coverage for long-term care insurance?
Without a regular review, their coverage can easily become outdated or misaligned with their current needs. By proactively revisiting policies each year, agents can ensure that coverage levels remain appropriate, beneficiaries are up to date, and any gaps or redundancies are addressed before they become costly problems. This practice of reviewing policies is another way to stay top-of-mind with your clientele, and displays that you are putting their interests first.
Beyond maintaining accurate coverage, annual reviews also create meaningful opportunities to strengthen client relationships and grow the business. These conversations position the agent as a trusted advisor rather than just a transactional salesperson, opening the door for cross-selling or upselling additional products that better fit the client’s evolving situation. Regular reviews also help improve client retention, as policyholders are more likely to stay with an agent who demonstrates ongoing care and attention. In a competitive industry, consistency and proactive service like this can be the difference between a one-time sale and a lifelong client relationship.
Create a Social Media Group
Social media marketing is an incredible tool for insurance agents, allowing them to easily reach a large number of potential customers digitally. While paid social media ads for insurance agents present a great opportunity to cast a wide net for customer acquisition, there is a lot that can be accomplished by using organic tools that are available on various social media platforms. This presents an inexpensive and simple way to generate more business.
Start by creating a Facebook group or LinkedIn company page, or even an Instagram account, strictly for your current clients. You can post anything that’s relative to insurance, such as company updates, changes with policies, or even statistical insight that could be beneficial to your clients. You can also post recipes or helpful household tips as the information needs to just be relative to your followers. Be a resource, not just a salesman.
Pinnacle Financial Services is an FMO that wants to partner with agents, and not just be an “upline.” We offer top-level contracts, back-office support for every aspect of your business, and the best technology in the business like our Connect4Medicare online enrollment platform for Medicare products. We can help you move through this increasingly difficult time so contact us now to take advantage of everything we have to offer!
Let Pinnacle Help You Sell Life Insurance
Pinnacle Financial Services is an FMO that wants to partner with agents, and not just be an upline. We offer top-level contracts, back-office support for every aspect of your business, and the best technology in the business like our Connect4Insurance online enrollment platform for Medicare products. If you specialize in life products, we also offer life insurance online enrollment and quoting tools to help you streamline your sales efforts. We can help you move through this increasingly difficult time so contact us now to take advantage of everything we have to offer!
Bob Brzyski
Vice President, Strategic Growth & Marketing
x7742 | bbrzyski@pfsinsurance.com
