Key Determinants of Cross Selling of Dwelling House and Personal Accident Policy for Private Motor Car Policyholders: Special Reference to AIA General Insurance Lanka Ltd.

Abstract

This study pertained to examine the Private Motor Car insured’s cross selling viability on Dwelling House and Personal Accident policies in AIA General Insurance Lanka Ltd by mixed method. AIA product portfolio Dominated by motor insurance, which is a loss line class among general product classes. Cross selling non motor products to motor insured became an essential requirement for AIA because this will improve combined ratio of this company. Throughout the previous literature, many scholars revealed that cross selling direct antecedents namely cross selling self efficacy, motivation and role clarity were valid predictors of cross selling sales performance and the particular study hypothesized that there is a significant impact of cross selling sales performance: its direct antecedents (Cross selling self efficacy, motivation and Role clarity). In this study, 196 wealth planners from 36 branches were selected randomly, and data were collected through in-depth interviews with 15 managers. The data were analyzed by data reduction, data display and conclusion was drawn. The particular mix method study confirmed cross selling self efficacy, motivation and role clarity have significant positive impact on cross selling sales performance and managers were perceived that cross selling significant for AIA and General Insurance Industry of Sri Lanka. Customer awareness, wealth planners’ lack of interest on non motor products, cross selling training, target, motivation and attractive products are the factors affecting cross selling sales performance. Hence, this study provides new insights to management for building future plans and strategies.