EAST WINDSOR, Conn., April 23, 2014 /PRNewswire/ -- Insuritas, the nation's premier provider of cloud-based, private-labeled insurance agencies, announced today it has been hired by Overstock.com to launch its virtual insurance agency solution for one of the nation's premier online shopping sites.
"We are delighted to be making history in launching the Overstock.com Insurance Agency," noted Jeffrey Chesky, President and CEO of Insuritas. Chesky continued, "This is an extraordinary opportunity to take our award-winning insurance agency solution for financial institutions and to partner with one of the nation's top ranked e-commerce platforms. Calling it a 'game changer' for the industry and us is not overstating it. Our solution will provide Overstock with its own, private labeled, full-service insurance aisle."
Tracy O'Brien, Vice President of E-commerce for Insuritas said, "While we are pleased to announce every new client that selects our insurance agency solution, we are especially excited about the unique opportunity that our partnership with Overstock affords – particularly with new marketing opportunities. Overstock is a power house brand in e-tailing and, as we deploy our award-winning E-InsuranceAISLE™ technology platform inside their web ecosystem, there is much that we can learn from their efforts to deliver the best possible customer experience."
Mr. Chesky added, "We continue to be tightly focused on helping our clients build a powerful stream of annuitizing, non-cyclical fee income with our turnkey insurance agency solution. Our online agency technology platform is helping banks and credit unions convert their massive online banking traffic into recurring revenue, transforming their web portals from static 'brochure sites' to dynamic 'e-commerce sites'." Chesky concluded, "Applying what we learn from our partnership with Overstock will prove transformative for our financial institution partners as well."
Insuritas enables financial institutions to own an insurance agency solution without the significant capital investments or operational risks of building or buying an agency. Insuritas is the nation's leading BPaaS provider of a cloud-based banking solution that is driving strong revenue growth tied to the high demand for web-based services from financial institutions as they focus on generating new sources of fee income. Insuritas provides secure, cloud-based virtual banking solutions for regional and community financial institutions, allowing these institutions to deliver a comprehensive suite of financial/insurance products to their retail and commercial account holders. Our BPaaS platform and proprietary technology is deployed and working in over 70 financial institutions. Additional information is available at www.insuritas.com.