Company: Insuritas
One Hartfield Blvd
East Windsor, CT 06088
Contact: Jeffrey Chesky
President & CEO, Insuritas
(860) 653-1134
FOR IMMEDIATE RELEASE
Insuritas Insurance Agency Partners Shatter Organic Growth Records in 2010
Bank & Credit Union Insurance Agencies Drive 36%+ Organic Growth
East Windsor, CT January 5, 2011– Insuritas, the leading provider of outsourced insurance agencies to financial institutions nationally today reported that their bank and credit union insurance agencies drove organic growth rates of 36.4% in 2010. With insurance agencies nationally reporting flat or negative growth rates of -2 to -4%, our clients’ success is even more impressive.
Sandy Fehrs, COO for Insuritas noted; “Our bank and credit union partners had an extraordinary year – driving record breaking lead volume into their insurance agencies, and managing the quality of those leads to generate the highest ‘quote to sold rates’ in our company’s history - 44.7%.” Online insurance shopping results were even more dramatic.
Fehrs continued, “In 2010 we rolled out our on-line insurance agency portal to our bank and credit union partners’ web sites, and with the increasing adoption of online banking came a dramatic increase in online insurance shopping – with online insurance buyers driving ‘quote to close conversion rates’ of 54.49%, higher than our agent assisted conversion rates.” Fehrs concluded, “These online insurance buying results speak volumes about the importance of financial institution owned insurance agencies featuring on-line buying to leverage the trust they enjoy with their depositors while providing a more comprehensive one-stop financial services shopping experience.”
Jeffrey Chesky, President & CEO of Insuritas noted; “With all of the regulatory pressure on traditional sources of fee income, our bank and credit union partners are proving that the best place for the consumers and small business owners to buy insurance is in their bank or credit union owned insurance agency, and that the annuitizing fee income from insurance commissions will make a significant contribution to a financial institutions non-interest income growth objectives.”
About InsuritasInsuritas enables banks and credit unions to own a complete insurance agency solution without the significant capital investments required to build or buy an agency, or the inherent operational risks. Through a cost-effective outsourcing service, financial institutions leverage Insuritas’ proven, end-to-end insurance agency solution. Insuritas is located in East Windsor CT. Additional information is available at www.insuritas.com.
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