Due Diligence

Due Diligence Enables Banks to†
Select the Right Bank Insurance Partners

MWA helps banks select appropriate insurance partners and products.  Part of that process includes performing due diligence on insurance marketers and underwriters and their products and services.
    

MWA helps clients complete 
the due diligence process by:†

  • designing Requests for Proposals (RFPs)

  • helping choose prospective vendors to receive RFPs

  • examining responses to RFPs

  • making recommendations

Banks use MWA RFPs to evaluate and judge each vendor (agency, third-party marketer, and insurance company) to determine whether it meets due diligence standards and is fit to be a strategic partner.

Requests for Proposals (RFPs):†

  • Organize the evaluative process and comparative selection-criteria, systematizing and standardizing the data and information requested of vendors.

  • Examine a vendorís sales, operations, administration and technical infrastructure and reveal its financial stability and viability.

  • Identify the competitive features and benefits of a vendorís products, product delivery capabilities, and performance and service standards.

  • Ensure the serious level of investigation necessary to enter a new business realm like insurance and conduct that business in a profitable and responsible manner.

  • Enable a bank to evaluate and judge a vendorís strategic, tactical and cultural fitness as a partner and product provider.

  • Provide essential documentation for federal and state regulators who question the criteria and processes on which the bank bases its insurance-related decisions.

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