Buy, Build or Rent

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In this much-requested article on insurance market-entry methods, Michael White explains why the process is not as simple as weighing pros and cons. He goes on to carefully describe how each bank can go about making a decision that will give it the best chance of success. 

Here is a thorough discussion of potential benefits and issues to consider, including:

  • CAPITAL COSTS

  • PROVIDER AND UNDERWRITING QUALITY 

  • FEE INCOME EXPECTATIONS 

  • CONTROL AND MANAGEMENT ISSUES 

  • PRODUCT DECISIONS 

  • DISTRIBUTION PLANS 

  • COMMISSION CONTRACTS 

  • CUSTOMER-OWNERSHIP CONCERNS 

Finally, White explains why any bank outsourcing the insurance sales function to an unaffiliated agency or vendor should, from both a regulatory and strategic standpoint, have its own licensed agency.  
     

 

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