All financial institutions have a critical need to identify newer and greater sources of fee revenue in an increasingly competitive environment.
SDBIC recently introduced the industry’s first, patented insurance solution for protecting your customer’s safe deposit boxes against all natural disasters, as well as theft and other catastrophes.
By partnering with SDBIC, financial institutions earn a commission (one of highest in industry) on each policy sold…and renewed.
This is, perhaps, one reason Credit Union Times recently featured our solution as a powerful source of new fee revenue in 2016 –see article.
With an average response rate of 6% on the program’s initial direct mailing, you can quickly extrapolate its potential; and with a 90% policy renewal rate, its significant, long-term value.
Factor in customized digital marketing campaigns–focused towards education and client acquisition–filling those empty boxes and the program’s value further multiplies.
Safe deposit box services are often used by a financial institution’s most valued customers. A recent SurveyUSA poll of 1,000 box holders shows that more than half of them incorrectly believe their financial institution or a federal agency insures the contents of their box. More than 85% of those box holders who earn $100k+ annually believe their institution should offer such an insurance protection.
People spend money on services they value: especially to protect what they value most.