BANKS' DISTRIBUTION METHODS FOR MARKETING LIFE INSURANCE
Method Percent of banks surveyed
Financial consultants 87%
Platform bankers (1) 60
Direct mail 32
Advanced agents (2) 20
Internet 17
Retail agents in branches 7
Agents in standalone offices 5
Referrals to outside agencies 2
Outbound telemarketing 2

(1) Bank branch platform staff who are licensed to sell insurance.
(2) Full-time agents employed by banks to market life insurance, with a focus on customers' more complex needs.
Source: Bank Insurance and Securities Research Associates (BISRA). Bank Life Insurance Sales Study.