Caption: Agent Productivity in Banks

Agent Productivity in Banks. A study for LIMRA examined the average annual gross commissions of different types of insurance producers within banks for 2002. This chart shows the average advanced agent selling to banking clients produced more than 3 times the annual sales of the typical full-time retail agent selling to bank branch customers. Licensed bankers had average life/health productivity of only 2% of that of retail agents and 18% of that of financial consultants. Kenneth Kehrer, author of the study, notes that banks have been challenged to recruit and retain advanced agents, who serve the estate planning and business succession needs of wealthier families and business owners.

Reproduced from National Underwriter Life & Health/Financial Services Edition, January 30, 2004. Copyright 2004 by The National Underwriter Company in the serial publication. All rights reserved.Copyright in this article as an independent work may be held by the author.