How to Cultivate More Multi-line Clients  

12 Jul 2023

How to Cultivate More Multi-line Clients

No doubt about it: your clients are your most valuable assets. Not only are they key to maintaining your current book of business, theyre your best source of new business, too.   

For example, it’s common industry knowledge that: 

  • The likelihood of selling a new policy to an existing client is much greater than closing a sale with a prospect 
  • It’s more time-consuming and costly to acquire a new client than it is to upsell a current one 
  • For many insurance companies and agencies, more than half of their new business comes from repeat clients  

Chances are, you already have some multi-line clients—and that you’d love to add a few more. Let’s review what we know about these most-valued customers and how to win them over.

What Research Reveals about Multi-line Clients

To some degree, your ability to secure multi-line clients hinges on your cross-selling skills and product portfolio. However, research also shows that consumers who buy multiple policies from a single agent share some common characteristics—including a predisposition to form strong relationships with advisors.   

In fact, according to LIMRA, multi-line clients: 

  • Exhibit greater loyalty than single-policy clients  
  • View agent relationships as long-term commitments 
  • Conduct more research before buying policies 
  • Prioritize their agent’s reputation and accessibility over policy pricing    
  • Tend to be educated, independent thinkers 
  • Are highly-motivated to protect their families 
  • Tend to be higher earners 
  • Are likely to recommend their agent/carrier to others 

If this describes your ideal client, you’re not alone. And if you have single-policy clients who fit this profile to some degree, it’s in your interest to focus your cross-selling efforts here.   

What Multi-line Clients Seek in Advisors

As it turns out, multi-line clients also seek advisors with similar characteristics. Specifically, they want advisors who: 

  • Are clearly knowledgeable about insurance products 
  • Listen closely and work to meet their needs 
  • View themselves as educators 
  • Are easy to connect with, including by email and text 
  • Represent reputable insurance companies  
  • Have easy-to-navigate websites 
  • Were recommended by someone they trust  

While you undoubtedly embody these traits, it’s a good idea to periodically ask yourself if there’s room for improvement. For example, could you shorten your response times? Are you due for a website update? 

Five Ways to Cultivate Multi-line Clients

While much of your energy is focused on prospecting new clients, it’s important to cultivate current clients, too. Here’s five low-pressure ways to do just that:  

  1. Build Awareness of Your Full Product Line  
    Studies show that many clients don’t know what their agents have to offer—even if they’ve been told before. Don’t assume that your clients know that you offer health, accident, and multiple types of life insurance through PALIG; communicate it regularly through emails, newsletters, social media, etc.  

    Often, the information doesn’t register until clients need coverage—and when that happens, you want them to instantly think of you.   


  1. Offer Annual Policy Reviews

    Creating the expectation that you meet with your clients at least once a year ensures that their coverage continues to meet their needs—and that you stay top-of-mind. In addition, it gives you the chance learn what’s new in their lives and surface any opportunities to provide coveragewhether increasing their current life insurance benefit or providing a second type of insurance.     
  1. Track Your Clients’ Major Life Events 

    Marriage, having a baby, buying a house—industry data shows that when we experience big life events, we’re more open to purchasing life and health insurance. Keeping on top of these occasions may present cross-selling opportunities, as well as the chance to be of service.  

    Plus, one of the fringe benefits of our profession is celebrating our clients’ milestones and successes, so take advantage of it!  
  1. Be a Trusted Advisor

    When you position yourself as a trusted advisor—not simply a produceryour clients will reflexively turn to you when their needs change. Continuously demonstrate your expertise and caring by sharing useful information and relevant industry insights. Take the time to educate; offer personalized advice.    
  1. Request Referrals

    Multi-line clients enjoy giving and receiving referrals when they have a resource they trust, so let them know that you believe that referrals are the highest form of praise. Not only do referred prospects generate higher conversion rates, they reinforce your bond with your original client. 

In summary, as a financial advisor, you’re always looking for ways to grow your book of business—and cultivating multi-line clients is a simple, proven strategy. For more ways to develop multi-line clients, read our how-to on combo-selling life and health insurance.  

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