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...inue to increase. INTEREST IN COMMERCIAL LINES IS GROWING. The early focus...’re in the business to stay. Now that banks have overcome some early problems,...

... , an Atlanta-based management consulting firm that serves the insurance distribution system. He's also the author of the 2002 ABIA Study of Leading Banks in Insurance . Campbell can be reached at (404) 233-5545 or e-mail [email protected] . This article originally appeared in the National Underwriter, P/C Edition and is reproduced with permission. Login or Register (for FREE) to gain access to thousands of other great articles. Need more reasons to join? Need insurance for you, your business or your family? Get quality appointments ... by CompleteMarkets Editor , James Campbell This content has not been rated yet. Since 1998, the banking industry has been the most active acquirer of Property/Casualty insurance agencies. So relevant are these transactions to the development of bank-insurance that, today, most banks selling Commercial insurance do so through an acquired agency. James Campbell examines the issue of whether banks overpay for agencies. Indeed, for banks with $1 billion in assets, more than 70% that sell Commercial insurance use an acquired agency to do so. Along the ... have thousands of articles, checklists, tip sheets, sales letters, and more! Communications Marketing Customer Service Planning Finance/Accounting Risk Management Human Resources Selling Legal and E&O Technology Life/Financial Services Glossaries Management Resources & Links Categories Popular Recent All Back Do Banks Overpay For P/C Agencies?4/30/2013 12:00:00 AM by CompleteMarkets Editor , James Campbell This content has not been rated yet. Since 1998, the banking industry has been the most active acquirer of Property/Casualty insurance ...

...ith seven large 'grand-fathered' national bank holding companies allowed to re...turn out to be the best thing for the banks, the agency principals, their cust...

... Home in on likely prospects. Create a list of folks that you think you'd like to get to know better; and maybe do business with. Focus on community banks with several branches that have a presence within a half-day's drive of your agency office. The big national banks will be too difficult to deal with. These committee-driven behemoths are notorious for their agonizingly slow decision-making processes. Your ideal candidate would be a community bank with assets between $50 million and $500 million. Go to the Internet and visit the Institution Directory ... , wholesalers and service providers. Negotiate lucrative contracts with carriers and wholesalers. Net result. More revenue for your agency! Clients & Prospects will research you, your co-workers and your agency here. The most comprehensive online insurance industry reference library for - Personal Lines Professionals Commercial Lines Professionals Life/Health & Benefits Professionals Online newsletters and content that you can use for your clients and social media efforts. Ability to attach leads and clients to your specific market searches, with e-mail alerts for all the market, articles, blogs and people ... We have thousands of articles, checklists, tip sheets, sales letters, and more! Communications Marketing Customer Service Planning Finance/Accounting Risk Management Human Resources Selling Legal and E&O Technology Life/Financial Services Glossaries Management Resources & Links Categories Popular Recent All Back Banks And Insurance: Do Your Due Diligence 4/30/2013 12:00:00 AM by CompleteMarkets Editor , Fred Dent This content has not been rated yet. The power of the Internet as an information resource is undeniable. Use it to your advantage ...

... foreseeable future. However, not all banks will elect to pursue insurance distribution as a core part of their business. Developing the appropriate expectations and a comprehensive game plan is essential for success. This article is reproduced by permission from the Property/Casualty edition of The National Underwriter. Robert C. Smith is senior vice president and a principal of Reagan Consulting, Inc., 7 Piedmont Center, Suite 417, Atlanta, GA 30305. He can be reached at (404) 233-5545 or by E-mail at [email protected] ... they attempt to orient themselves to more new business. The development of incentive compensation for bank employees for insurance referrals and a strong emphasis on insurance products from the bank's senior management are crucial elements of success. Significant improvements in operating margins have been difficult to achieve. Commercial and Personal P/C business has generally had relatively low operating margins, especially in light of sustained soft pricing. When the assumptions used in developing the pricing for an agency purchase project improvements in the operating margins, most banks have been unable to achieve these ... We have thousands of articles, checklists, tip sheets, sales letters, and more! Communications Marketing Customer Service Planning Finance/Accounting Risk Management Human Resources Selling Legal and E&O Technology Life/Financial Services Glossaries Management Resources & Links Categories Popular Recent All Back Bank Lessons From Joint Ventures And Agency Acquisitions 4/30/2013 10:46:13 PM by CompleteMarkets Editor , Robert Smith This content has not been rated yet. BANK LESSONS FROM JOINT VENTURES AND AGENCY ACQUISITIONS by Robert Smith The trade press has been filled ...

...endent insurance agency, and the National Bank of Sussex County, both located ...hing is certain: Insurance agents and banks need to make the best of the situa...

...that, today, most banks selling Commercial insurance do so through an acquired...agency acquisitions to drive their commercial lines strategies. And most will ...

... function more like insurance companies than like insurance agencies. Discuss these issues up front. It's better to address the differences early in the negotiations than to have the negatives overwhelm you after the relationship is cemented. Fred C. Dent, Jr., CLU is a nationally known speaker, seminar leader, and consultant. A former Banking Commissioner for the State of Louisiana, he leads Financial and Management Services, a consulting group located in Baton Rouge, LA. You can reach him at his office (225) 344-2374, home ... understand that the sales process can be expensive. Your banking counterparts might not. Bank leadership has probably never experienced an insurance company levying production requirements. Most bankers understand the requirements of risk management underwriting. But they'll have a hard time dealing with the rejection of a Commercial client — with whom they enjoy a favorable relationship — due to the difficulty of writing their requested class of business. When bankers hear the market' they think of their customers, not whether an insurance company will take a look at their prospect. Their potential ... We have thousands of articles, checklists, tip sheets, sales letters, and more! Communications Marketing Customer Service Planning Finance/Accounting Risk Management Human Resources Selling Legal and E&O Technology Life/Financial Services Glossaries Management Resources & Links Categories Popular Recent All Back Banks And Insurance: Bridging The Culture Gap 4/30/2013 12:00:00 AM by CompleteMarkets Editor , Fred Dent This content has not been rated yet. If you don't acclimate yourself to the idiosyncrasies of banking culture, you might find yourself pulling ...

...Property/Casualty edition of The National Underwriter. Robert C. Smith is sen...

...ry day the Supreme Court allowed national banks to sell insurance, the banking...d of the client's creditor's. TFC's nationally recognized Debt Service System ...