How embedded protection reversed deposit decline in a rural community

The Challenge

Ipava State Bank serves a rural community where access to traditional life insurance is often limited. Many families face lower incomes, fewer employer-sponsored benefits, and barriers to qualifying for coverage.

At the same time, Ipava was experiencing deposit pressure and increasing competition from digital banks. Rate-based promotions weren’t a sustainable solution, and many customers weren’t inclined toward app-based financial products. The bank needed a way to deliver meaningful value while reinforcing trust and long-term relationships.

The Solution

Wysh partnered with Ipava to embed life insurance directly into eligible checking and savings accounts.

Instead of positioning insurance as a product customers had to apply for, protection became part of the account itself. Coverage was tied to balances, required no applications or medical exams, and grew automatically as customers saved—without changing how customers banked or introducing new digital hurdles.

The approach aligned naturally with Ipava’s role as a trusted community institution.

The Results

Following launch, Ipava reversed a period of deposit decline and saw customers deepen their relationships with the bank.

Deposits increased, average balances grew, and thousands of customers received life insurance protection—many for the first time. By embedding financial wellness directly into everyday banking, Ipava strengthened loyalty and improved long-term franchise health without competing on rates or technology.

*Based on ISB Partner Management Insights, Q2 2025.