The platform, called 360° Cross-Selling, will allow LDP’s group insurance clients to purchase business insurance, and business insurance clients to buy group insurance. It has been in operation since early April.
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"The launch of this platform stems from our strategic plan," LDP vice-president of sales and strategy Luc-André Lussier told Journal of Insurance.
“There is enormous competition at the external level. We realized that we have an under-exploited internal market. We have a group insurance volume from employers who are not clients in business insurance, and vice versa. Simply by offering all the products that our customers in a business line might need in the other, we can generate tremendous organic growth."
The platform provides financial incentives to referents. Lussier said the platform’s incentive system was implemented in order to encourage employees who are normally specialized in one product to go out of their way to refer their customers to another product.
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