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Up-Sell / Cross-Sell

The current customer base provides a company with the lowest hanging fruit to generate additional revenue.

Effective cross-selling strategies can improve profitability and increase customer retention at the lowest cost of customer acquisition. The challenge is for the insurer to deliver the right cross-sell product to the right policyholder and at the right price and time.

Cross-sell strategies need to take into account past customer behavior, change in customer mix, a combination of offerings that have the best chance of success, and a host of other such considerations to make them as effective as possible.

All such strategies need to be data-driven business decisions.

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Apply Effective Cross-selling to reduce risks

  • Low customer retention rate
  • Lost revenue
  • Low satisfaction level in new product
  • High cost of customer acquisition
  • Negative ROI