Cutting Deals with Credit Unions & Other Affinity Groups

[Landersinsuranc]

Has anyone cut a deal with any credit unions for auto & home insurance leads? I want to setup a contract with them were I can offer their members and employees insurance. With certain carriers like Travelers and MetLife I can offer them an affinity (group) discount for being with the credit union. I know Liberty Mutual does this a lot. How do they get the contracts with the Credit Unions? Do they give them a cut of the commission? Does anyone know where I can get a case study on this or any advice?

 

[Stephen]

Has anyone cut a deal with any credit unions for auto & home insurance leads? I want to setup a contract with them were I can offer their members and employees insurance. With certain carriers like Travelers and MetLife I can offer them an affinity (group) discount for being with the credit union. I know Liberty Mutual does this a lot. How do they get the contracts with the Credit Unions? Do they give them a cut of the commission? Does anyone know where I can get a case study on this or any advice?

We work with a credit union for life insurance and investment leads. You will need to build a relationship with a decision maker at the CU and prove to them that you can add value to their members.

 

[nyc2phi]

LM has a partnership with CUNA which controls most credit unions. Partnership offers a discount on home & auto for employees and members.

 

[Landersinsuranc]

Thanks Guys. Also, do you know where I can find case studies on banks and insurance agencies merging or becoming partners?
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LM has a partnership with CUNA which controls most credit unions. Partnership offers a discount on home & auto for employees and members.

Do you know if CUNA or LM give the credit unions a cut of the commission or any kick backs?

 

[moonlightandmargaritas]

Do you know if CUNA or LM give the credit unions a cut of the commission or any kick backs?

I seriously doubt that they would do it for nothing...

 

[Landersinsuranc]

True, but I want to know if they are selling them just on the benefits to the members or the benefits and a cut...

 

[Stephen]

True, but I want to know if they are selling them just on the benefits to the members or the benefits and a cut...

If you are trying to form a relationship with a CU your best shot is selling them on additional member benefits and showing them how a partnership with your agency will be just one more reason that they are better than a bank.