Owen County State Bank ($201M Assets) Launches Insurance Agency to Drive Fee Income
Insuritas, the nation’s premier provider of turn-key insurance agencies for financial institutions announced that it has been hired by Owen County State Bank. The agency will provide a comprehensive suite of insurance products for the banking customers and the communities it serves.
Robert Taylor, President and CEO of Owen County State Bank stated: “By launching our wholly owned Insurance Agency we will continue our commitment to providing Owen County State Bank customers with all the financial products they need. 100% of our customers need insurance every year, and we will provide them with a one stop shopping solution that focuses on price, convenience, and service. Every time our customers apply for a loan, get a renewal notice or go pay their bills online, they will be offered a full suite of insurance products.” Taylor concluded: “At Owen County State Bank, we partner with our communities to help them meet their financial goals and we want to help them save money on insurance, as well.”
Jeff Chesky, President and CEO of Insuritas, noted: “Owen County State Bank Leadership has determined that by leveraging the powerful brand recognition they have, they can offer a full suite of insurance products to their customers as a natural extension of their core business.” Chesky added, “To provide shareholders with profitable growth, we have developed our award winning E-InsuranceAISLE™, LoanINSURE® and SmartCART Technology℠ platforms, creating a virtual ‘Insurance Aisle’ that we will install inside the Bank. This Aisle will provide a powerful lift in recurring, value added, non-cyclical fee income while helping more customers and small businesses save time and money on insurance.”
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 Owen County State Bank Owen County State Bank, headquartered in Spencer IN is a state bank, focusing on meeting the financial goals of their customers and serving their communities. The bank has been operating since 1922. Starting as a private bank, the bank was issued a new charter in 1933 and became a state bank. Now, Owen County State Bank has expanded outside of Owen County to Monroe County. In those counties, the bank is an active partner with community agencies to assess needs with joint programs, donations, and discounted loans. http://www.ocsbank.com/