Insuritas

EverTrust Bank Hires Insuritas to Launch Digitally Powered Insurance Agency

On April 24, 2018

EverTrust Bank hires Insuritas to launch a bank- owned, full service insurance agency. Jeff Chesky, President and CEO of Insuritas, noted: “The leadership at EverTrust has recognized that 100% of their customers buy auto, home and business insurance every year, and wanted a full service, multi-product, bank owned agency.” Chesky continued, “We will build and launch an agency for the bank with up to 42 Auto, Home and Commercial insurance carriers, complemented by over 100 carriers featuring nearly every insurance product their customers and businesses need all competing to offer customers the best combination of price, coverage, and service. The agency will be omni-channel, operating on a digital platform with our award winning online agency eco-system and supported by our ‘White Glove Agent Concierge Service’. “We will launch our virtual ‘Insurance Aisle’ inside the bank, including our award winning E-InsuranceAISLE™, LoanINSURE® and SmartCART Technology℠ platforms, which will provide a powerful lift in recurring, value added, non-cyclical fee income.”

Jesse C.K. Kung, President & CEO of EverTrust Bank stated, “Launching our bank owned insurance agency will allow our customers to shop for all of the insurance products they need from the bank they know and trust. By opening our wholly-owned insurance agency, we are able to expand our commitment to servicing all of the insurance needs of Chinese businesses in California.” Kung concluded: “Looking forward, launching a bank owned insurance agency is aligned with our vision to enhance earnings capabilities and pursue continued sustainable growth, all while drawing on the experience and expertise of the O-Bank Group to continue to expand our product offerings and geographic reach.

About EverTrust Bank

EverTrust Bank is a subsidiary of O-Bank, headquartered in the City of Pasadena in Southern California, EverTrust Bank was established in 1995 by a group of overseas Chinese bankers and entrepreneurs. In July 2006, O-Bank reached an agreement with the Bank to purchase 100% stake of the Bank via a newly established U.S. holding company, IBT Holdings Corp. The acquisition was consummated on March 30, 2007 and has become an important step in O-Bank’s strategy of international expansion. Presently, the Bank focuses on servicing Chinese businesses in California providing C&I, trade finance, commercial real estate and construction loans as well as deposit services. EverTrust Bank has seven full service branches and assets of $844 million. To learn more visit evertrustbank.com.

 

About Insuritas

Insuritas has reengineered insurance distribution in America; simply changing the way insurance works – by building a scalable platform that currently has a comprehensive knowledge of and active engagement with nearly 9 million retail and 1.4 million small business insurance buyers. Insuritas has reengineered insurance by building complex, private labeled insurance agency solutions embedded into the financial services industry, enabling these firms to own a turn-key insurance agency and offer their customers a comprehensive set of insurance & risk management products through a white-labeled, digitally-optimized solution installed, managed, and optimized by Insuritas. Insuritas has built a single fully integrated platform that can connect the over 300M+ insurance buyers in the US and all of their annual insurance needs to insurance carriers in a single, virtual insurance agency eco-system, collapsing the fragmented and antiquated customer acquisition, quoting and policy issuance model and finally replacing it with intelligent insurance. Click insuritas.com for additional information.

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