The highest rate of referrals for new business from bank divisions to insurance divisions occurs at institutions that make cross-selling a priority, according to a new report.
The American Bankers Insurance Association, a Washington, D.C.-based subsidiary of the American Bankers Association, published this finding in quarterly report, the Bank-Insurance Viability Index. The report was compiled by MarshBerry & Company Inc., Dana Point, Calif., and sponsored by ABIA.
The report found that the banks with the highest referral rates out-performed the average banks by nearly double in several categories including financial services, employee benefit, personal, commercial and small commercial.
