Many banks have begun selling insurance in recent years. But that's news to most of their sales staff, a study has found.

In a survey of branch employees and call-center representatives at 26 banks, 69% did not know their bank sold insurance, according to Stern Marketing Group, Berkeley, Calif. And of the 31% who did know, nearly half could not describe the types of products offered.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.