Paducah Bank’s New Insurance Agency Shatters Sales Records
Paducah Bank’s new insurance agency, PBT Insurance Services, shattered first month sales records as they launched their new full service insurance agency. The number of customers who connected to the agency for insurance quotes was a one-month record for their asset size, and a record 58% of the customers that asked for an auto, home or business quote bought a policy.
Mardie Herndon, President of Paducah Bank stated: “Launching our wholly-owned PBT Insurance Agency has been a tremendous experience for our leadership team and our entire organization. We focused intently on communicating our new agency’s capabilities to our customers, and the response from customers and employees has been very enthusiastic. We work hard to create value for our customers and the communities we serve every day. With 100% of our customers buying insurance from someone every year, adding a full service insurance agency stitched into the fabric of the bank has been a great decision.”
Jeff Chesky, President and CEO of Insuritas, noted: “Paducah Bank’s leadership has shattered our agency launch performance for a bank in their asset size. Banks are uniquely positioned to provide the insurance products their customers need to buy from someone every year, and Paducah has shown extraordinary leadership in communicating their new agency’s products and services.” Chesky added, “Our deployment team has installed our award winning E-InsuranceAISLE™, LoanINSURE® and SmartCART Technology℠ platforms, creating a virtual ‘Insurance Aisle’ inside the Bank. Our technology framework coupled with the strong brand equity of Paducah Bank 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 Paducah Bank & Trust Paducah Bank is an award winning, locally owned bank with banking centers at six locations. Paducah Bank was named the Best Place to Work in Kentucky among medium-sized companies in 2006. In 2008, Paducah Bank was chosen by the Wall Street Journal as one of the nation’s Top 15 Small Workplaces. The Bank was named Best Bank in the Paducah Sun Readers’ Choice Awards in 2012, 2013, 2014, 2015, 2016 and 2017. Recently, the Bank received 10 TELLY Awards for its television commercials and was named one of the Top 50 Banks in the nation for effective use of social media by ICBA. Paducah Bank was the only Kentucky bank to make the list.