Bridging the Cultural Divide Between Banks and Life Insurers: 2003 Bank Insurance Study

Banks want programs, products, and processes tailored to their unique relationship with their customers. A customer entrusts a bank with his or her assets and expects certain basic bank benefits and services in exchange for the payment of fees. At the branch-based retail level, the relationship is uncomplicated: The bank holds your money until you want it back. To sell insurance along with bank products, banks need the person at the point of sale to be knowledgeable about both bank products and life insurance, regardless of distribution method: telephone, mail, face-to-face, or over the Internet. Insurers agree.