Banks wishing to enter the insurance business often think that a partnership with an agency in some kind of joint venture might be a good way to begin. And it can be.

It's easy to see why the prospect is attractive: Start-up costs are low, for instance. An agency has employees who know how to sell insurance, so you don't have to worry about retraining, and its people understand insurance products - not to mention insurance regulation.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

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