StonehamBank ($580 M Assets) Hires Insuritas to launch Award Winning Insurance Agency Platform to Drive Fee Income
Insuritas announced it has been hired by StonehamBank to install their award-winning virtual insurance agency technology platform. StonehamBank is a state chartered co-operative bank providing its services throughout the communities of the North Shore of Massachusetts.
Jeffrey Chesky, Chairman & CEO of Insuritas, noted: “We are delighted to add StonehamBank to our distinguished roster of the finest financial institutions in the U.S.” Chesky continued: “StonehamBank focuses on relationships and helping people and businesses be successful and wanted a full service, technology rich, customer-centric insurance agency platform that would support all of the insurance needs of 100% of their retail and commercial customer base.”
Insuritas will deploy its award winning Virtual Agency platform to operate a wholly owned StonehamBank Insurance Agency. The agency platform will feature a full suite of insurance products where bank customers can come to shop, compare, and buy insurance as a natural extension of their trusted relationship with StonehamBank. Chesky added “We will install our award winning E-InsuranceAISLE™, LoanINSURE® and SmartCART Technology℠ platforms, creating a virtual ‘Insurance Aisle’ inside the bank that will provide a powerful source of recurring, value added, non-cyclical fee income while helping StonehamBank customers save time and money on insurance.”
Meg McIsaac, President of StonehamBank noted, “StonehamBank operates under the same premise we established 130 years ago. We strive to work together as a Co-operative Bank committed to the fundamental principles of service excellence and trust. We focus on providing a comprehensive suite of financial products and services to the communities we serve. Insurance is a natural extension of the products and services we provide to grow and protect our customers financial well-being.” Houghton concluded, “Opening a Bank owned Insurance Agency will support our commitment to offering an Optimum Banking experience.
Insuritas is reinventing insurance distribution in America. Insuritas seeks to be the world’s most customer centric company for people and small businesses to shop, compare, buy and service all of their insurance needs. Insuritas deploys large, private labeled ‘Private Label Insurance Agencies’ that connect customers to all insurance products in a frictionless shopping experience, eliminating the industry’s legacy distribution & technology platforms. Click www.insuritas.com for additional information