| BANKERS
INFORMATION Looking
for ways to expand and test the insurance
market with little or no cost? Consider
this recent article;
Banks
urged to capitalize on relationships to
build benefits business
Despite
a spate of acquisitions and mergers with
insurance companies over the last few
years, banks still have much to learn
about selling insurance, according to the
participants of American Council of Life
Insurers conference in March 2002.
Experts
speaking at the Washington, D.C.
conference observe that most banks are
competing with individual life insurance
and annuity products, but few have
ventured into the employer-sponsored
benefits market. The benefits market
holds much potential for banks to attract
new clients and capitalize on current
ones, analysts say, although increased
competition will expose banking firms to
more risk.
Banks
looking for new opportunities in benefits
should integrate life insurance with
health products and target marketing
efforts to "mass market"
customers rather than concentrating on
high net worth individuals, according to
a study discussed at the conference.
"There's tremendous potential in
mass market customers that we haven't
even begun to tap," observed Carmen
Effron, president of CF Effron Co. and
author of the study.
We
can work with your bank to establish a
tighter relationship with your clients
and allow you to provide more services
and increase your revenue stream. Call or
e-mail
us to
determine if we are right for your bank.
I'd
like to learn more! (Fields
marked with an [*] are required.)
|
