Island Federal Credit Union hires Insuritas to launch digital insurance agency

Insuritas has been hired by Island Federal Credit Union ($1.5B in assets – 60,000 members) to install its digital insurance agency platform. The insurance agency will be owned by Island Federal Credit Union, embedded inside the credit union’s ecosystem, and will be engineered to offer a full-service insurance agency solution to their retail and commercial Members. With the partnership, Island Federal Credit Union will be able to offer its Members the auto, home and commercial insurance products they purchase every year, while deepening wallet share and building an important source of annuitizing non-interest income.

“We’re delighted to partner with Island Federal Credit Union to provide a full-service, digitally powered insurance agency for the credit union and its Members. Through our embedded insurance agency as a service, Island Federal will now be able to provide simple, seamless access to competitive options for their Members’ insurance needs, all with a focus on delivering the right coverages at the right price at the right time.” – Insuritas Chairman and CEO Jeffrey Chesky.

“We are pleased to provide Island Federal Members the invaluable opportunity to shop and save on their insurance coverage needs, through an organization they already trust. Island Federal’s insurance agency will offer a full suite of insurance services to better help our Members, their families, and their businesses protect the things that matter most in life.” – Craig Booth, Chief Operating Officer, Island Federal Credit Union.

The agency will feature a variety of insurance services, including home, renter’s, auto, pet, identity theft, travel and professional liability insurance, among others. The company partners with more than 40 carriers to ensure appropriate coverage at a competitive price. The agency is scheduled to open this winter.