Policyholder marketing

New and existing policyholders not only recognise the need for insurance protection but their need for cover often increases over time. What’s more, policyholders will buy again and again from companies with whom they already do business. Yet few policyholders receive regular communication from their agent and the cross sell ratio in the insurance industry remains extremely low – estimated at lower than 5%.

To meet the demand, adding a rider to a base policy is an obvious solution. Yet sales agents can find that selling riders over-complicates the sale and is time-consuming and costly. The answer is to offer riders direct. This approach has many benefits and can:

Increase the level of protection provided to the policyholder
Increase the value of the policyholder and strengthen the relationship over the long term
Increase customer satisfaction, persistency and embedded value

ReMark’s policyholder marketing programme benefits insurers, agents and policyholders alike.

It creates an opportunity for insurers to employ a highly profitable, yearly renewable communication cycle with existing customers
Agents/financial advisors realise increased commissions with little effort while acquiring qualified leads and referrals
Policyholders are given the opportunity to fill any gaps in their overall protection at an affordable cost

View strategic benefits of policyholder marketing.