Providing Employee Benefits through Strategic Partnerships

Case Study Insurance

A regional bank with branches located across multiple states in the US began the process of expanding their insurance division to become more attractive to prospective clients. At the time, the bank had strong presence in their home state with respect to their Property & Casualty services. However, there became a clear opportunity to enhance the Employee Benefit services that they could provide to accommodate the needs of their geographically and demographically diverse client base. The bank faced multiple administrative challenges as it expanded over the years, and employees were relocated to states in different insurance markets that varied both in product offerings and regulatory requirements.

Creating an in-house benefits division to provide for the bank’s client needs wasn’t an option for the bank, as it would have required untold amounts of talent recruitment, employee education, revisions to compliance practices and other unforeseen costs.

Summit’s Solution

Summit was brought on as the employee benefit partner for the bank to find solutions that would round-out the list of services the bank could offer their clientele on a national level. Following numerous initial meetings between Summit and the bank to identify specific needs, a strategy was developed that allowed Summit to become the bank’s full-service benefits division.

Summit had all the qualities that the bank was looking for in a consulting partner: the size to accommodate a rapidly-growing employee base, the ability to provide services in all states and regions of the U.S., and subject-matter expertise that was well-beyond what the bank would have been able to recruit in the time needed.

The partnership between Summit and the bank demonstrated not only Summit’s value as a benefits advisor but also as a strategic partner to a business offering their own advisory services to their client base. Partnerships like these exist throughout all divisions of Summit, where service offerings are tailored to fit a client’s specific needs and subject matter experts are brought in to help tackle any gaps or shortcomings that the business has within its own advisory and consultative services.

Clay Shemwell
Executive Vice President- Voluntary Benefits

Kevin Sumlin
Executive Vice President- Voluntary Benefits

These Results Are For Illustrative Purposes Only And Should Not Be Deemed A Representation Of Future Results. Circumstances, Solutions, And/Or Results Are Based On Specific Facts Tied To Unique Client Situations. Favorable Results Cannot Be Guaranteed Even In A Similar Scenario. Each Specific Set Of Circumstances Will Differ Depending On Client Needs And Profile. Actual Results May Be More Or May Be Less Than Those Shown. Past Performance Does Not Guarantee Future Results. This Assessment Is That Of The Writer, And Not The Recommendations Or Responsibility Of Cetera Advisor Networks LLC Or Its Representatives.


Clay Shemwell and Kevin Sumlin are not affiliated with Cetera Advisor Networks LLC.