Analysis

Briefing: Brokers have ‘big inertia’ around cross-selling – but terminology shift could support soft market retention strategies

By 2025-11-20T10:00:00

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A perhaps underutilised tool in brokers’ armoury, cross-selling might be a better wielded retention weapon if described as ‘complete risk protection’, noted schemes focused speaker

With competitive prices and propositions left, right and centre as soft market supply outweighs end customer demand, the fight for new business is a grisly one. This means that many firms – and brokers in particular – are more closely examining their client retention strategies, quizzing each other on how to make customers more sticky.

One retention approach that has largely flown under the radar, however, is cross-selling – defined by Investopedia as an “attempt to sell additional products or services to an existing customer who has made a purchase”.

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