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Insurance Banks Boost Agent FinancingWhile insurance industry-sponsored banks were primarily formed to provide banking products for independent agents to offer their clients, an added benefit has often turned out to be easier agency financing for expansion and technical upgrades, early participants in two banking startups agree.

The key is that banks created by insurance industry associations understand an insurance agent’s business better than an unaffiliated commercial bank does, often making financing and consulting advice easier to come by for qualified agencies.

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