Paducah Bank ($600 M Assets) Hires Insuritas to Launch Award Winning Insurance Agency Platform to Drive Fee Income
Insuritas announced it has been hired by Paducah Bank to install their award-winning virtual insurance agency technology platform. Paducah is the only locally owned bank in Paducah, with 6 branches serving Paducah and McCracken Counties, KY.
Jeffrey Chesky, Chairman & CEO of Insuritas, noted: “We are delighted to add Paducah Bank to our distinguished roster of the finest financial institutions in the U.S.” Chesky continued: “Paducah Bank 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 the insurance needs of many of their retail and commercial customers.”
Insuritas will deploy its award winning Virtual Agency platform to operate a wholly owned Paducah 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 Paducah Bank. 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 Paducah Bank customers save time and money on insurance.”
Joe Framptom, Chairman and CEO of Paducah Bank noted, “We pride ourselves in being the only locally owned bank in Paducah, and work hard to provide 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.” Framptom concluded, “We have built a culture of WOW in support of our customers, and we are excited to add a full service insurance agency to our WOW 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.
About Paducah Bank
Founded in 1948 Paducah Bank has grown to over $600 M in assets, with 6 branches serving Paducah and McCracken Counties in Kentucky. It is the only locally owned bank in Paducah. Paducah Bank provides a comprehensive suite of deposit, loan, trust, and investment advisory services. Paducah Bank publishes its WOW! Magazine once or twice a year. The feature magazine highlights many of the bank’s customers and/or their businesses as well as local programs, events, or projects. Click www.paducahbank.com