Insuritas Partners with Constellation to Monetize Online Banking Experience
Insuritas, the nation’s premier provider of insurtech enabled insurance agencies for financial institutions, announces that it is collaborating with Constellation Digital Partners, LLC in their efforts to build a revolutionary ‘platform as a service’ (PaaS). PaaS will allow digital banking customers to access a complete suite of insurance products and services in a single secure online shopping experience. The Constellation platform will allow digital banking customers to seamlessly access their full service digital insurance agency. Owned by the financial institution and managed by Insuritas, the full service digital agency offers over 100 insurance products and services as a part of the secure online banking experience.
Tracy O’Brien, Chief Technology Officer for Insuritas noted; “Constellation Digital Partners is about to crack the last remaining challenge to connecting our credit unions’ over 8 million households seamlessly to the auto, home and business insurance they need through their secure online banking portals. Our financial institution partners host over 35 million unique visits nationally every month to their online banking portals. Today, helping those customers to shop and buy the insurance is complicated by the one-off integration required for each unique online banking platform and our comprehensive insurance product platform.” O’Brien added, “Constellation will allow us to connect the member and the critical character and collateral data needed to instantly underwrite a customer’s auto, home and business insurance with our agents and carriers – across all of the online banking platforms our clients use today.”
Jeff Chesky, President and CEO of Insuritas, noted: “We have always believed that the legacy insurance vertical will only be reengineered when there is a scalable model that has low cost access to the massive insurance addressable market, has a deep understanding and knowledge of the customers in that market, and has consistent ongoing engagement with those customers. Financial institutions, with their low cost access to massive addressable markets, a deep understanding of their customer and their skyrocketing online banking traffic are the proving to be the next generation insurance distribution platform. The Constellation Platform will be a final critical component to seeing our vision of offering a completely seamless suite of insurance products to every consumer exactly at their instant of insurance interest.”
Insuritas pioneered the deployment of virtual “private labeled” insurance agencies that are integrated into bank and credit union operating environments – currently connected to over 8.4 million consumers and over 1.2 million small businesses. The Insuritas solution, which is now installed in over 150 financial institutions, includes four core technology platforms that transform the shopping experience for millions of consumers for the insurance products they purchase and repurchase every year. Insuritas enables financial institutions to own an insurance agency solution without the significant capital investments required to build or buy an agency, or the inherent operational risks attendant to either of those approaches. Through a cost-effective partnership solution, financial institutions leverage Insuritas’ proven, end-to-end insurance agency solution. Click www.insuritas.com for additional information.
About Constellation Digital Partners, LLC:Credit union partners are developing a secure and flexible cloud-based marketplace that enables upper to mid-tier credit unions and innovative app developers to provide safe, reliable, and next-generation digital financial service experiences while giving the freedom to compete, innovate, and thrive in the financial services industry. Constellation will redefine what credit unions offer, delivering digital financial services in a way that enables them to place members at the center of their business strategy. Visit www.constellation.coop to learn more.