The Holy Grail of cross-selling? Charles Manchester argues that cyber can be an opportunity for all brokers
You would like to think that the arrival of GDPR will finally get clients to understand the dangers they face from the cyber world.
It’s not easy getting a client to stop and think about cyber exposure, even though we are all so dependent on technology in both our personal and working lives.
But there is a stand out feature to cyber insurance. How many other insurance products can be sold to almost any client a broker has?
It’s needed regardless of the profession, trade or if they are a commercial or personal lines customer. Successfully cross-selling products is the ambition for most brokers and insurers but often a customer won’t go for the new product. Cyber insurance is relevant to virtually everybody.
There have been numerous articles on the exposures we all face in terms of hacking and social engineering, etc. Cyber insurance is available to personal lines customers as well as for most commercial businesses.
It naturally lends itself to cross-selling. But customers still seem reluctant to buy. Yes, times…
