IDENTITY THEFT ISSUES AND OPPORTUNITIES American Bankers Insurance Association Annual Conference October 9, 2003 Presented By: Sherita Cox, Union Bank of California Insurance Services Mike Owens, Coverdell & Company, Inc. Walter Grote, Travelers
Straight offer of a complete program with credit reports, credit monitoring, counseling and restoration, etc. with an amount of ID Theft Insurance included ($10,000 -$20,000).
Blanket ID Theft Insurance ($500 or $1,000 coverage) for all or selected customer segments (senior, platinum, etc.) provided by the bank. This adds significant value to the bank customer relationship at a very low cost.
3. Blanket ID Theft Insurance w/ Voluntary upsell for either additional coverage or a full program. This can offset the cost of the blanket coverage and generate revenue.
4. Customer Appreciation program ($500 or $1,000 gift ID Theft coverage) with the option to purchase additional coverage or a full program. Activation is required for the gift coverage (similar to Gift AD approach).