Bank distribution called opportunity for insurers
Article Abstract:
Bankers and insurance agents remain in opposite corners regarding the marketing of insurance products by banks, according to recent opinions expressed at a Coopers and Lybrand annual conference. Bankers are surprised that agents are strongly opposed to banks' involvement in the market. For example, Philip S. Corwin noted that banks offer a more efficient and potentially more lucrative distribution network compared to most insurers. However, insurance agencies are much better than bankers at judging the intricacies of insurance products, according to agent Allan G. Hancock.
Publication Name: Best's Review Life-Health Insurance Edition
Subject: Insurance
ISSN: 0275-0988
Year: 1995
User Contributions:
Comment about this article or add new information about this topic:
Banks stake their claim
Article Abstract:
Bankers are in the early stages of figuring out how to sell insurance to existing customers following court rulings that give banks permission to offer the service. Banks sell an estimated 20% of all individual annuities and about 1% of life insurance in the US. Bank Boston Insurance Co. Pres Carmen Effron predicts that banks will sell up to 30% of all life insurance by 2002. The insurance endeavors of several banks are discussed.
Publication Name: Best's Review Life-Health Insurance Edition
Subject: Insurance
ISSN: 0275-0988
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
Surge in life sales proves French bancassurance's success
Article Abstract:
French insurance firms are facing competition from banks, or bancassurance, as they use their broad-based networks to sell insurance. French banks are finding that the sale of insurance products is an important source of revenue, and many have branched into automobile and home insurance in addition to other personal lines. Bancassurance sales of insurance are expected to represent about 6% to 8% of total insurance sales by 2000.
Publication Name: Best's Review Life-Health Insurance Edition
Subject: Insurance
ISSN: 0275-0988
Year: 1996
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Avoiding the pitfalls of agency appointments. Carrier-agency planning aids appointment success. Agency councils provide powwow for profits
- Abstracts: Company hammers away at workers' comp costs. Opportunities growing in self-insurance market. Temporary duty program cuts comp costs a "TAD." (Temporary Alternative Duty program for disabled workers)
- Abstracts: Rates, bonds spur insurers' rebound. Market conduct fallout causes slow growth rate. Modest 2.3% growth rate due to group sales slump
- Abstracts: Variable universal life variable life: cost of insurance. Flexible premium retirement annuity histories
- Abstracts: Long-term care insurance: a mixed opportunity. Tax reform for LTC: defuses the Medicaid bomb. ADA: the bill of rights for AIDS patients