Sales management

Cross-Selling in the Banking and Insurance Sector

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What is concretely cross-selling in the banking and insurance sector?

Is the digital revolution a threat or an opportunity?

The banking and insurance sectors understood this: if they don’t want to miss out on opportunities, it is crucial for them to figure out this emerging digital ecosystem. In this context of constant digital evolution, more and more banks and insurance companies are opting for customer relationship tools that offer real cross-selling opportunities.


Why cross-selling in banking?

Cross-selling allows banks and insurance companies to optimise customer contact. This type of sales allows them to offer supplementary product(s) to the customers. 

Cross-selling is especially relevant to the bancassurance sector because of the strong link between some of the products and services; for example, between mortgages and house insurance or home purchase savings. 

However, this means that the agent must be updated on cross-selling opportunities, which is not always easy. efficy CRM is the ideal tool to boost cross-sales because it allows you to put in all customer data and easily identify potential commercial opportunities.


But how does it work?

When the agent plans an appointment with his customer – in this case, Barbara Bua -, her company – in this case, Horlogerie – is automatically linked to her when he wants to identify her. 

Once the customer and her company are linked together, the agent can see the current sales opportunities that are respectively linked to Barbara and her company. 

He can then add this new opportunity and see the current opportunities. 

In this way, he has had a complete overview of the commercial products his customer has, and, most importantly, he can see which products could be interesting for his customer and her company. 

The agent thus maximises his chances to sell more banking products during his appointment.



Learn about: 

Why should you use a CRM insurance for your company? 
How to fix the selling price to the public?