MEMBERS® Auto & HoMEoWnERS InSuRAnCE PRogRAM
Protecting members’ vehicles, their homes—and their relationship with your credit union.
What makes MEMBERS Auto & Homeowners better for members— and your credit union?
Your members need auto and homeowners insurance—is there any reason they aren’t getting it from you? Not with MEMBERS® Auto
& Homeowners Insurance, backed by the marketing power of MemberCONNECT®.
The MEMBERS Auto & Homeowners Insurance Program, presented to members via MemberCONNECT, makes it easy every step of the way. By partnering with Liberty Mutual and Progressive, we are able to cover a wide range of risk and product categories. From identifying the members most likely to be in the market for specific insurance products, to maximizing member convenience through multiple channels, MEMBERS Auto & Homeowners Insurance is a powerful way to add to or optimize your insurance product income stream— and build stronger member trust and loyalty. Effectively marketing and supporting insurance products requires using every available channel to reach—and be reached by—members. From mail to phone, the Web, and even through Liberty Mutual’s network of 2,300+ sales representatives across the U.S., CUNA Mutual Group delivers seamless connections that help members make the best insurance purchasing decisions in ways that are easy and convenient for them. These are keys to building deeper member relationships, which help to enhance trust and loyalty— preventing members from developing relationships with your competitors.
growing member relationships with multiple channels.
Members expect the convenience of multiple channels for many of their purchases. Auto and homeowners insurance is no exception. With MEMBERS Auto & Homeowners Insurance, your members have channel convenience while they are shopping or whenever they are ready to purchase. Policy shopping occurs across a variety of channels. According to a Forrester Research study, 49% of consumers researched auto insurance on the Internet, 36% by phone, 28% in a faceto-face manner using local agents, and 10% by mail.1 Credit unions that make an auto and homeowners insurance program available through just one channel risk turning members over to the competition.
superior savings MEMBERS Auto & Homeowners Insurance Program maximizes credit union performance with multiple channels
There’s no one best way to provide property/casualty insurance. “Some members need a face-to-face contact, some want the chance to talk to someone but prefer using a call center, while others want the convenience of an online resource.”
MEMBERS Auto & Homeowners Insurance rewards your members for their affinity to your credit union with special, members-only discounted rates. And depending on your local market conditions and restrictions, they may qualify for a vast array of additional discounts.
% of Sales
60% 40% 20% 0%
A recent national savings study found that members who switch to MEMBERS Auto Insurance save an average of $341.28 annually. 2
Direct Only to Call Center
Face-to-Face Internet Only Multi-Channel Only to (Binds & Local Sales Bind Representatives Assists)*
Bind is a sale completed entirely online. Bind assist is a sale started on the Internet and then closed in another channel.
Source: CUNA Mutual Group Policy Data 2008.
Jim Sarver, Insurance Services Manager for CEFCU Financial Services, Inc., the CUSO for $2.3 billion Citizens Equity First Credit Union (CEFCU).
“The Web Dominates US Auto Insurance Research” Forrester Research, Inc, September 11, 2008. Figure based on a February 2008 sample of auto policyholder savings when comparing their former premium with those of Liberty Mutual’s group auto and home program. Individual premiums and savings will vary. Discounts are not available in all states, and discounts vary by state.
MEMBERS® Auto & HoMEoWnERS InSuRAnCE PRogRAM Easy to get started. Even easier to manage over time.
Whether starting a new insurance program or looking to improve an existing one, MemberCONNECT was specifically designed to make it easy for credit unions to make a wide range of insurance products available to members without disrupting daily operations or requiring significant resources. When you make Auto & Homeowners coverage available through MemberCONNECT, you’re gaining an entire virtual and local sales force that will work tirelessly—and seamlessly—to support your credit union and your members. You can see your program’s results and watch your non-interest income grow with our Web-based management reporting tools. We handle all the work, your credit union gets “all the credit.”
Member Benefit/Coverage Options: Vehicles
• Auto • Motorcycles • Boats and motors • Recreational vehicles • Commercial auto
Auto Insurance Discounts
• Multi-car discount • Safe driver status • Good student status • Airbags, seatbelt usage, anti-theft device, anti-lock brakes • New business accident forgiveness
• Single family homes • Condominiums • Tenants (renters) • Seasonal/vacation homes
Segmentation, stacking the deck for growth.
Selecting the right offer for the right customer is at the core of how we do business. We carefully analyze different customer bases and markets strategically to make sure our mailing plans cover all your eligible members. Our direct marketing plans “stack the deck” by putting more emphasis on members who are most likely to purchase. This sophisticated segmentation and targeting allows us to consistently grow your non-interest income, all while being respectful of your members’ needs.
Homeowners Insurance Discounts
• New homes • Fire prevention devices • Burglary and fire alarms • Inflation protection • Multiple policy discounts
• Personal catastrophic liability • Scheduled property (e.g., jewelry, art) • Identity theft
CUNA Mutual Group is a leading provider of financial services to credit unions, their members, and valued customers worldwide. With more than 70 years of market commitment, CUNA Mutual’s vision is unwavering: to be a trusted business partner who delivers service excellence with customer-focused, best-in-class products and market-driven innovation. Visit www.cunamutual.com or call 800.356.2644 for more information.
Make MEMBERS Auto & Homeowners Insurance a part of your complete member insurance portfolio. For more information, contact your CUNA Mutual Sales Executive at 800.356.2644 or visit www.cunamutual.com
Coverage provided and underwritten by leading insurance companies, including Liberty Mutual Insurance Company and its affiliates, 175 Berkeley Street, Boston, MA. To the extent permitted by law, applicants are individually underwritten; not all applicants may qualify. Discounts are not available in all states, and discounts vary by state. A consumer report from a consumer reporting agency and/or motor vehicle will be obtained on all drivers listed on your policy where state regulations allow. Roadside assistance service applies to auto policyholders and is provided by Cross Country Motor Club, Inc., Boston, MA, or through Cross Country Motor Club of California, Inc., Boston, MA. The insurance offered is not a deposit and is not federally insured by the NCUSIF or guaranteed by your credit union. Discounts may not be available in all states. This information is not approved for use in Massachusetts. This product sheet is for basic education only and not for training credit union employees. Non-licensed individuals may not describe details of insurance products to the public.
P.O. Box 391 5910 Mineral Point Road Madison, WI 53701-0391 800.356.2644 www.cunamutual.com
CUNA Mutual Group Proprietary and Confidential. Further Reproduction, Adaptation, or Distribution Prohibited. 011-0106-1108 © CUNA Mutual Group, 2009 All Rights Reserved.