Insurance units operated by NationsBank and Pomona First Federal Savings and Loan have tapped Laughlin Analytics to supply due diligence services.
The unit of Laughlin Group of Companies, Beaverton, Ore., will evaluate and monitor insurance companies that NationsBank Insurance uses in its retail investment-products program.
NationsBank Insurance is a unit of $158 billion-asset NationsBank Corp., Charlotte, N.C.
Laughlin Analytics will supply broader services, including initial selection reviews, to Pomona First Federal, a $3.5 billion-asset thrift in Pomona, Ca.
Laughlin Analytics compares its services to ratings agencies like Standard & Poor's Corp., but with a twist.
"Our emphasis is on the bank market," helping financial institutions keep close tabs on the products they offer, said Greg McGreevey, director of Laughlin Analytics.
The unit offers a range of services, including peer-group reviews of insurance companies and exit strategies for switching carriers.
Laughlin Analytics supplies its services to trust and retail investment-product programs at 165 banks.
Most of these institutions receive the services as part of overall investment-product programs that Laughlin Group operates for them.
But about three years ago, Laughlin began making the insurance service available on an "unbundled" basis. Banks are increasingly running investment-product programs themselves, and asking outside marketing companies to provide select services to fill in gaps.
"We had so many institutions coming to us just asking for due diligence," Mr. McGreevey said.