Greater Iowa Credit Union ($653M assets – 36,000 Customers) Partners with Insuritas in Launching their Insurance Agency
Insuritas to build and launch a full-service digitally powered insurance agency for Greater Iowa CU featuring Lily, the Insuritas virtual insurance agent.
East Windsor, CT (January 31, 2023) – Insuritas announces it has been hired by Greater Iowa Credit Union, Ames, IA to install its award-winning full-service digital insurance agency platform. The insurance agency will be owned by the Credit Union, embedded inside the Credit Union’s ecosystem, and will be engineered to offer a full-service insurance agency solution to their retail and commercial members. Through the partnership, Greater Iowa Credit Union will be able to offer its members the critical personal insurance and commercial insurance products they purchase every year, while deepening wallet share and building an important source of annuitizing non-interest income.
“We’re delighted to partner with Greater Iowa Credit Union to provide a full-service, digitally powered insurance agency to their customers in the growing Iowa market,” said Insuritas Chairman and CEO Jeffrey Chesky. “Through our embedded insurance agency as a service, the credit union will now be able to provide simple, seamless access to competitive options for their members’ insurance needs, all with a focus on delivering the right coverages at the right price at the right time.”
Insuritas EVP, Chief Marketing Officer Donna Jermer added, “With our proprietary technology platform, we are able to leverage data-driven automation to maximize conversion rates with customers. Insuritas’ digital insurance assistant, Lily, is finely tuned to identify consumers as they are in-market for insurance, automatically reaching out on their preferred communication channel on behalf of the agency. This automation reinforces the bank’s existing relationship with the customer to expand their financial services footprint to include all their insurance needs.”
The agency will feature a variety of insurance services, including a myriad of commercial insurance products, as well as personal insurance products such as home, renter’s, auto, pet, identity theft, and travel insurance. Insuritas partners with more than 40 carriers to ensure appropriate coverage at a competitive price. The agency is scheduled to open this summer.
The Insuritas mission is to connect people to the insurance products they need through a seamless, transparent shopping experience where carriers compete to provide them with the right coverage at the right price. The Insuritas ‘Embedded Agency as a Service’ platform is installed across a network of financial institution partners serving over 11 million customers nationally, empowering financial institutions to leverage proprietary data-mining techniques and integrations with a broad array of insurance carriers to make highly personalized, digitally optimized insurance offers to their depositors, all within their brand. These strategies help further their commitment to the financial well-being of their customers, while driving a critical source of non-interest income for their institution. For more information, visit www.insuritas.com.