Insurers are leaving cross-selling potential untapped 

Published on August 6, 2023

Many insurance providers are falling well short of the cross-selling opportunities available to them. This was shown by a survey conducted by Simon-Kucher: Although nine out of ten customers would prefer to purchase all their insurance policies from one provider, efforts to foster customer loyalty are lacking. 

Attracting new customers costs a lot of time and money. It’s easier and 3 to 5 times cheaper to expand business with existing customers. This piece of advice is no less relevant to the insurance market, but many insurers still haven’t tapped into this potential yet.  

There are regional differences though. In Germany, a Simon-Kucher survey showed just 26 percent of all customers have purchased their insurance in a bundle from a single provider. In…

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