EAST WINDSOR, Conn.– For the third year in a row, Insuritas is reporting it achieved record organic growth with its credit union and bank partners nationally. The company said its total addressable market with its bank and credit union partners grew by 42.4% in 2016.
“The Insuritas award winning agency platform is now available to over 7.4 million retail households and over 1.2 million small businesses,” the company said. “Insuritas clients include banks and credit unions ranging in asset size from $25 million to over $70 billion in assets. Organic policy sales grew by 33.7% in 2016, ranking Insuritas as the nation’s leading organically growing auto, home and small business insurance platform for financial institutions in the US.”
The company said its success has been attributed to its three core insurtech innovations: LoanINSURE, which enables the delivery of insurance quotes with every loan transaction; InsureNOW, which provides customers a seamless way to quote their insurance at their policy’s renewal; and E-InsuranceAISLE, the nation’s only turn-key online insurance agency that allows customers to shop, compare and buy policies within a financial institutions online web presence.
“Our award winning Virtual Agency platform operates entirely inside our partners’ brand - the agency platform is the only one of its type, featuring a full suite of insurance products where customers can come to shop, compare, and buy insurance as a natural extension of their trusted relationship with their financial institution,” said Tracy O’Brien, Chief Digital Officer for Insuritas noted, Visitation, shopping and buying rates continue to skyrocket.”
Added Matt Chesky, chief operating officer for Insuritas, “Fueling recurring fee income growth for our partners is our only priority. One-hundred percent of our partners’ 7.4 million retail households and 1.2 million small businesses buy insurance from someone every year, and as the traditional brick and mortar agency system continues to decline, we are relentlessly focused on enabling our clients to capture an increasing share of that business.”
For info: www.insuritas.com.