Insuritas Partners With Sound Community Bank ($715M in Assets in Seattle, WA) To Launch Bank-Owned Digital Insurance Agency Platform
This new partnership will enable Sound Community Bank to offer their retail and small business customers a comprehensive suite of insurance and risk management products through a technology rich environment, all under a brand that their customers know and trust. By connecting their customers to over 40 insurance carriers competing for their business, Insuritas will ensure that their customers are able to obtain the right coverage, at the right price, all while helping the bank expand wallet share and non-interest income.
“We’re excited to welcome Sound Community Bank to the Insuritas family,” said COO Matt Chesky. “Through our partnership, Sound Community Bank will own a full service insurance agency designed to meet all of their customers risk management needs, furthering the bank’s commitment to personal service and making all of their customers banking needs easy, accessible and transparent.”
Powered by some of the most innovative insurtech platforms in the nation, including our award-winning E-InsuranceAISLE, LoanINSURE & SmartCART Technology, Insuritas is the nation’s leading provider of outsourced insurance agency solutions for financial institutions.
To learn more, or to join the hundreds of financial institutions that have chosen Insuritas to drive non-interest income, contact us today.
About Sound Community Bank
Sound Community Bank is a Seattle, WA-based, FDIC-insured bank founded in 1953. The bank has equity of $69 million on $715 million in assets. Sound Community Bank was started to provide financial services to the employees of the grocery wholesaler, Associated Grocers. Originally chartered as a credit union, they continued to expand their products and services over the years and serve nearly 16,000 households and businesses through eight retail branches and two loan production offices. Sound Community Bank now manages more than $611 million in total loans – including a Fannie Mae portfolio – and their clients maintain more than $539 million in total deposits. Loan products include consumer, residential and business products for individuals and businesses in the region. For additional information please visit www.soundcb.com.
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 1.5 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 United States 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. For additional information please visit www.insuritas.com