It is aimed at almost the entire customer base. The program is still too new to speak about results, says Martin. The second tack is to focus on affluent bank clients. Here Comerica works through its insurance agency, which encompasses the Fairlane Agency, purchased in 1996. Comerica offers a homeowners product underwritten by Chubb.
Private bankers think it's a great service.
Recently, Martin recounts, an affluent client pledged his house as collateral for a loan. The Comerica loan officer discovered before the loan closing, however, that the house wasn't insured. The call was made at 3 p.m. Comerica has conducted its affluent marketing program since 1996. Although agents receive referrals from private and corporate bankers, a substantial amount of business is developed on their own.