Insuritas, a provider of outsourced insurance agencies, has reached an agreement with BancorpSouth Insurance Agency and BancorpSouth, to provide agency-integration insurance capabilities for the bank’s retail households and small businesses.
Insuritas said, the bank was committed to provide its retail households and small businesses with a comprehensive, technology rich and highly efficient insurance shopping solution for their insurance needs.
Insuritas will be tasked with expanding BancorpSouth Insurance Agency’s brand into the bank’s retail households and small commercial customers.
The major enhancement to the Bank customer’s insurance shopping experience will include: Insuritas web portal; on-line quoting, on-line binding; shopping cart technology and on-line policy management.
BancorpSouth Insurance Agency CAO Scott Naugle said Insuritas will supplement core agency’s capabilities by providing their turnkey insurance agency distribution solution.
"Insuritas will operate under the BancorpSouth Insurance Agency brand, focusing on the Bank’s over 350,000 retail households and over 50,000 small business relationships," Naugle said.
BancorpSouth insurance president Markham McKnight said the Insuritas outsourcing solution enables the firm to accomplish this objective for the bank without the traditional costs and operational risks of building-out a new agency complex to handle the increasingly commoditized personal lines and small commercial coverages.