InsurTech innovator Insuritas has signed a deal with The Milford Bank to create a bespoke digital insurance agency for the lender.
Good things are happening fast for Insuritas. Earlier this month the company was named on the InsurTech100 list for the second time, cementing its position as one of the most innovative business in the sector, and now it has inked a deal with The Milford Bank.
The deal will see the bank, which has $450m in assets, enlist Insuritas to set up its own digital insurance agency platform.
“We are excited to welcome The Milford Bank to the Insuritas family,” said Jeffrey Chesky, CEO of Insuritas. “The Bank’s leadership understands the value of offering a full suite of insurance products to their retail and commercial customer base and has tasked us with building a full-service insurance agency that will feature all of the insurance products and services their customers need to manage risk.
“We will deploy our award-winning iInsure digital agency platform and our data analytics capabilities to deliver personalized insurance solutions to their customers for all of the insurance purchases they make every year.”
Matt Chesky, president of Insuritas, added, “This new partnership will enable The Milford Bank to offer their retail and commercial customers the opportunity to shop for all of the insurance and risk management products they need, all under The Milford 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, customers will be able to seamlessly obtain the right coverage, at the right price, for all of their insurance needs, all while helping The Milford Bank expand wallet share, customer share and non-interest income.”
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