Security Federal Savings Bank Launches Security Federal Insurance Services, LLC. On Insuritas Digital Agency Platform
March 25, 2020 – Security Federal Savings Bank, Logansport Indiana, launches its bank-owned full-service insurance agency, Security Federal Insurance Services, LLC., today. “We are excited to help launch Security Federal Savings Bank’s new, full-service insurance agency,” said CEO Jeffrey Chesky. “Through our partnership, Security Federal’s new agency will offer their retail and commercial customers access to all of the insurance coverages they need from a large group of insurance carriers competing for their business, furthering the Bank’s commitment to being community centric and socially focused.”
Security Federal Insurance Services, LLC. will enable the bank to offer their customers and the communities they serve the insurance and risk management products they need, all under the Security Federal Savings Bank brand that their customers know and trust. By connecting their customers to dozens of insurance carriers competing for their business on the Insuritas’ iINSURE platform, the new bank-owned agency will allow customers to obtain the right coverage at the right price, all while helping the bank expand non-interest income and customer share. Powered by some of the most innovative insurtech platforms in the nation, Security Federal Insurance Services, LLC. will deploy award-winning LoanINSURE & iINSURE technologies.
Annette Russell, President and Chief Executive Officer of Security Federal Savings Bank, stated, “Launching Security Federal Insurance Services, LLC. today will allow our customers to shop for the auto, home, life and business insurance they need from the bank they trust. Dozens of insurance carriers will be featured in our agency, all competing to offer our customers the right combination of price, coverage and service. Every one of our customers buys insurance every year, and we create insurance buyers every time we approve a loan. In opening our wholly-owned insurance agency, we are able to continue our commitment to promoting flexible solutions, innovation, empowerment and growth.”
The Insuritas mission is to connect people to the insurance products they need through a seamless, transparent shopping experience where carriers compete to provide them with the right coverage at the right price. The Insuritas meta-agency platform, deployed across a network of partners serving over 10M customers nationally, empowers financial institutions to leverage proprietary data-mining techniques and integrations with a broad array of insurance carriers to make highly personalized, digitally optimized insurance offers to their depositors, all within their brand. These strategies help further their commitment to the financial well-being of their customers, while driving a critical source of non-interest income for their institution. For more information, visit www.insuritas.com.
About Security Federal Savings Bank
Security Federal Savings Bank has maintained a presence as a secure community bank since the doors opened in 1934. Security Federal is a community bank owned by their depositors. They are one of a few remaining mutual banks in the nation and they have six full-service branch locations in Cass, Howard, Carroll and Tippecanoe Counties. Security Federal is also home to local trust specialists which are not found in their competing markets, and they have a financial advisor on staff. Security Federal offers commercial and personal products and services including commercial loans, home mortgage lending, consumer loans, home equity loans, checking and savings accounts, certificate of deposits/IRA’s, health savings accounts, electronic banking, online banking, mobile banking and trust services. For more information, visit www.secfedbank.com