It’s Time for Banks to Put an Insurance ‘Aisle’ In Their Stores

“The only financial product that 100% of our customers purchase every year, year in and year out, is insurance – our goal at Bancorp South Insurance is to have a permanent insurance aisle in our stores, so our customers know they will never have to leave our bank to insure themselves, their families and their businesses.”

Insuritas CEO Jeff Chesky explains his vision of an insurance aisle in every bank and credit union.

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GoogleCompare Had Steve Jobs Rolling Over – LeadGen to Continue Collapse

“A new generation of Agents and Agency is emerging – reimagined to reflect what the customer actually wants, even though, in the iconic words of Steve Jobs – ‘they didn’t know it’.”

Insuritas CEO Jeff Chesky writes on the failures of LeadGen models and how we as members of the insurance industry can do better. When insurance carriers encourage these LeadGen models, they put our brands at risk by taking advantage of our customers’ data.

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The Uberization of Insurance

“A new generation of agents, fulfilled in their work as risk managers and customer advocates, operating in a seamless, frictionless eco-system in service to the customer.”

Insuritas CEO Jeff Chesky writes about how as UBER has re-imagined the taxi cab industry to provide customers with a seamless comfortable ride, insurance agents must do the same for their customers. Over 5000 consumers and small business owners ask our agents for help each month, with no cost of customer acquisition or application preparation. Due to the underwriting packets prepared by our partners, our agents can solely focus on providing great customer service.

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Non-Interest Income: Banks Find It In the Insurance Aisle

“Innovative bank executives are proving that when their customers visit the bank online to pay bills or check balances, the bank can offer them additional value-added products and services while also driving non-interest income.”

Insuritas CEO Jeff Chesky writes in BankNews about fee income, value-added fee income, the banking industry’s new market for insurance companies, and case studies from Insuritas – how we do it better. Wells Fargo CEO John Stump explained that “Wells is one of the largest originators of mortgages and used-car loans and those borrowers all need insurance”. That is exactly the reason we partner with banks to create their own aisle.

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Growing Share of Wallet (FCU Magazine)

“By expanding our product and services and letting our members know about it, we are becoming top of the mind. We’re becoming that trusted advisor.”

This article goes in-depth into how credit unions can increase their wallet share, focusing on SRP Federal Credit Union’s efforts – particularly their decision to hire Insuritas – and what it has done for their credit union, as well as looking at Denali Alaskan’s “low-maintenance model” through Insuritas.

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Keeping Your Credit Union Relevant and Attractive

“We should be focused on making our credit unions a one-stop shop for our members. Whether buying a house, car or even insurance, we want our members to first come to us and ask what we can do for them.”

SRP Federal Credit Union CEO Ed Templeton, chair of NAFCU, wrote in NAFCU magazine to announce the launch of SRP’s wholly owned insurance agency and how it is helping their bottom line and their members.

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On the Re-engineering of the Industry

Why US banks need a new business model – McKinsey

“These forces of change will compel banks to reinvent four of their core banking businesses: retail branch banking, payments, mortgages, and fixed-income OTC trading.”

This article, penned by McKinsey & Company, explains three threats to the US banking model and states that banks are going to have to find new ways to earn non-interest income. Let Insuritas help you do so.

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A New World of Opportunity: The insurance innovation imperative – KPMG

“Think about how you can make insurance simple for your customers (however sophisticated) and make your organization easy to do business with.”

This report, from KPMG, states that the insurance industry is “ripe for disruption” and examines what insurers can do, by focusing on short-term and long-term opportunities.

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Customer Behavior and Loyalty in Insurance: Global Edition 2016 – Bain

“Expanding services—often in concert with third-party providers—offers a powerful means for insurance providers to use their customer assets so they don’t get sidelined into the lower-value role of a utility.”

This report from Bain highlights the aspects of the industry that Insuritas prizes above all: customer loyalty and advocacy and a customer feedback system, as well as effective digital tools. The benefit of Insuritas? You own your agency, we simply run it – no third parties.

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Making digital strategy a reality in insurance – McKinsey

“To succeed in this new landscape, insurers need to take a structured approach to digital strategy, capabilities, culture, talent, organization, and their transformation road map.”

McKinsey & Co’s article dives into the challenges that digital transformation faces in the insurance industry and explains how the best leaders are overcoming the obstacles. Here at Insuritas, we are passionate about our digital strategy, and have won 5 NAFCU Innovator Awards for our advances.

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