Piedmont Federal Savings Bank to Launch Digital Insurance Agency through Partnership with Insuritas and Community Insurance Services, a Subsidiary of the North Carolina Bankers Association (NCBA)
Raleigh, NC and East Windsor, CT (March 16, 2022) – Piedmont Federal Savings Bank is launching an insurance agency with Insuritas, a full-service digital insurance agency platform, through a joint venture with Community Insurance Services LLC. The agency is engineered to offer a full suite of home, auto and small business insurance products to their customers.
“Piedmont Federal is always seeking opportunities to benefit our customers,” said David P. Barksdale, Piedmont Federal Chief Executive Officer. “Partnering with Community Insurance Services and Insuritas provides those looking for insurance a convenient and secure way to find the right coverage for the right price. We’re excited to offer this service as a tool to help our customers on a personal and business level, achieve their short and long-term financial goals.”
The insurance agency will offer more than 40 carrier partners and will offer products including auto, home, business, pet, travel and more. “We’re delighted to announce our relationship with Piedmont Federal Savings Bank and are proud to have earned the opportunity to build, launch, and manage a full-service, digitally powered insurance agency for the bank and its customers,” said Insuritas Chairman and CEO Jeffrey Chesky. “Through our unique partnership with the NCBA, the bank will now be able to provide simple and seamless access to competitive options for their customers’ insurance needs, all with a focus on delivering the right coverages at the right price and time.”
“Building recurring fee income as a result of helping customers and expanding their wallet share will be increasingly important to our community banks,” said Peter Gwaltney, President and CEO of the NCBA. “This innovative partnership between the NCBA and Insuritas continues to allow our community bank members to provide a full-service insurance agency platform without the traditional capital, execution and reputation risks of buying or building a local agency.”
About Piedmont Federal Savings Bank
At Piedmont Federal, our Purpose is simple – We Open Doors for You. We open doors for you to purchase a new home and to build savings; we open doors for your business to obtain the financing and banking services it needs; we open door for our communities to be better places to live. Our Values form the foundation of this Purpose: Being Authentic, Building Caring Relationships, Doing What’s Right, Going All In, and Moving Forward. These Values guide how we do business, and we believe they are our competitive advantage. We pledge to live these Values in our service to you.
About the North Carolina Bankers Association
The North Carolina Bankers Association brings together all categories of banking institutions that best represent the interests of our rapidly changing state. Proudly serving North Carolina’s banking industry since 1897, the NCBA is the professional trade organization providing advocacy, leadership, and support for its dynamic membership base. The Association has three subsidiaries, Centrant Community Capital, Community Bank Services (CBS) and Community Insurance Services (CIS). Centrant Community Capital provides permanent debt financing for workforce apartment communities and housing in several states. CBS offers insurance and employee benefit products, as well as other services to the Association’s members and publishes a quarterly magazine, Carolina Banker. CIS has been created to remove barriers that will enable our community banks to provide a full range of quality insurance options to their customers. For more information, visit at www.ncbankers.org.