Engage News Page: February 2023
What Financial Institutions Need to Consider When Adding an In-House Agency
Insurance is a Natural Extension of Value-Added Services; What Financial Institutions Need to Consider When Adding an In-House Agency
Article by: Kellie Lowder
Senior Advisor
Whether a consumer opens their web browser or turns on a TV show, they will be exposed to countless commercials for insurance. The days of shopping through two or three local agencies for your insurance needs are long gone.?Beyond traditional big-brand carriers, consumers can obtain quotes through national banks, auto dealerships, multi-carrier online portals, and even Walmart.?These entities do extensive research and allocate significant marketing dollars to reach consumers at the perfect moment.?While the competition is never-ending, there is a wonderful opportunity for credit unions and community banks to enter this market and be successful.
Stat of the Month
Cybersecurity is a concern both financial institutions and their customers share. Consequently, consumers are looking for more security from their preferred financial institutions.