NAFCU Services Chooses Insuritas As Preferred Partner For Outsourced Insurance Brokerage

Posted: 2010-06-15 00:00:00

NAFCU Services Corporation (www.nafcu.org/nafcuservices) today announced that it has chosen Insuritas as its Preferred Partner for its outsourced insurance brokerage solution, which allows a credit union to own an insurance agency and sell insurance to members on a fully outsourced basis.

NAFCU member benefits and other details of the partnership may be viewed at www.nafcu.org/insuritas.

Many challenges confront credit unions attempting to buy or build an insurance agency, including cost and execution, as well as management of carrier appointments and reputation risk. Insuritas aims to eliminate those barriers to entry, and is seeing great results with credit unions.

Its turnkey outsourced solution allows a credit union to own and operate an insurance agency without incurring major capital or execution risks. The agency is established under the credit union brand, providing members with a comprehensive suite of insurance products, including auto, home and business insurance. Along with sales and marketing, all back office services, including billing and claims processing, are handled by Insuritas.

“Credit unions often fail to leverage their member relationships for insurance opportunities because of the risks involved,” said Jeffrey Chesky, CEO and president of Insuritas. “Our model takes the risk out of the equation, and provides a valuable, ever-growing revenue stream to the credit union.”

“Credit unions committed to being a member’s one-stop financial institution will find great value in the Insuritas solution,” said NAFCU Services President David Frankil. “It really is a win-win. By helping a member with his or her insurance decisions, a credit union can significantly enhance their bottom line.”

NAFCU Services will hold a webinar titled “Building a Successful Insurance Aisle in Your Branches: A Case Study of Hudson Valley FCU” on June 29. Credit unions will learn best practices for offering insurance to members and see how one credit union is driving 100 policies a month from the program.

About Insuritas

Insuritas enables credit unions to own a complete insurance agency solution without the significant capital investments required to build or buy an agency, or the inherent operational risks. Through a cost-effective outsourcing service, financial institutions leverage Insuritas’ proven, end-to-end insurance agency solution. Insuritas is located in East Windsor, Conn. Additional information is available at www.insuritas.com.

About NAFCU Services Corporation
NAFCU Services Corporation is a wholly owned subsidiary of the National Association of Federal Credit Unions (NAFCU). Since 1975, NAFCU Services has partnered with the industry’s leading solutions providers to offer value-added products and services at a discount to credit unions. Currently, it offers 28 Preferred Partner programs to the credit union community and maintains the credit union locator website CULookup.com. For more information about NAFCU Services Corporation, please visit www.nafcu.org/nafcuservices.