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.

Insurance Agencies and Brokerages, Insurance agents, brokers, & service, Insurance Agents & Brokers

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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.

Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Insurance Regulation, Services, Cover Story, Insurance law, Bank insurance business

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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.

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