EBS has near 100% client retention due to our attention to details, excellent client service, and the quality of life insurance products provided to clients.
EBS does not outsource client service. EBS has six in-house CPAs available to meet the Bank’s service needs and BOLI reporting requirements. Summary resumes are provided in our presentation materials. All of our personnel come from accounting or customer service backgrounds. The vendor’s commitment to investing in the operational infrastructure necessary to support BOLI is a key consideration in vendor selection.
Independent accountants have completed a SOC 1 and SOC 2 audit of EBS resulting in a clean opinion of the firm’s BOLI Policies and Procedures and Privacy Standards.
EBS is the Endorsed BOLI Vendor of several banking associations including the Community Bankers of Michigan (CBM), the Community Bankers Association of Ohio (CBAO), the Georgia Bankers Association (GBA), and the Western Independent Bankers (WIB).
Direct phone numbers, email addresses, and cell phone numbers of the EBS service team will be provided to the Bank.
EBS has taken over numerous clients from other BOLI vendors. We will be pleased to provide specific references from the clients that switched to EBS.
The financial representatives of EBS have selling agreements with the top five mutual carriers: Northwestern Mutual, New York Life, Mass Mutual, Ohio National, and Guardian. We also have extensive knowledge and access to other scalable life insurance products from many other insurance carriers.
We will provide the Bank with a detailed service plan that will list the specific reports the Bank will receive and when this information will be delivered.
EBS does not typically charge for administration of life insurance policies.