Paul Carroll, Editor-in-Chief of ITL
While I’ve heard many too many empty promises of corporate synergies over the years, I’ve learned that one form of cross-selling really does work: “Do you want fries with that?”
So, I’ve been waiting (and hoping) for insurers to find ways to achieve similar sorts of easy, intuitive crossover sales.
There are already a few combo meal sorts of offerings that show promise — e.g., Tesla bundling auto insurance with its cars, or Comcast selling insurance into homes that are tethered to it via coaxial cable — but my ears really perked up last week when stories surfaced about Walmart forming an insurance agency.
It just makes sense. With 5,000 outlets in the U.S. alone and 265 million customers worldwide, Walmart has a target-rich environment for insurance sales… continue reading >