Insuritas Launches SmartCART Technology(sm) - Revolutionizes Fee Income Model for Financial Institutions
This investment enables the Company to dramatically enhance its customer's experience
EAST WINDSOR, Conn., June 13, 2013 /PRNewswire/ -- Insuritas, the industry's leading provider of outsourced insurance agency solutions for financial institutions, unveiled its new SmartCART Technologysm platform today. SmartCART Technology is the nation's first technology platform that allows consumers to shop, compare and buy fee income-generating products without ever leaving the financial institutions web portal. In the same way that Orbitz® revolutionized the travel industry, and Amazon® upended traditional retail distribution models, SmartCART Technology will revolutionize how consumers shop for insurance and insurance-related products.
"Financial institutions get millions of free, repeat web visitors to their online banking sites every day, but have had little success in converting these visitors into online shoppers. Our SmartCART Technology delivered through our existing insurance aisle solution, allow our clients to seamlessly convert browsers into shoppers," said Paul Fisher, the Chief Technology Officer of Insuritas. Our SmartCART Technology platform was unveiled today before a group of industry executives representing banks and credit unions nationally. Jeffrey Chesky, President and CEO of Insuritas noted, "Transforming financial institution websites from brochureware to e-commerce sites is critical to the industry's long-term survival and eliminating third party vendors who keep upwards of 90% of the fee income generated from a depositor's purchase has to end."
Chesky continued, "What makes SmartCART Technology truly revolutionary is that it enables consumers to shop, compare and buy multiple products, represented by multiple providers, at their convenience and on their own terms. At the point of purchase, the consumer is presented with real-time quotes from competing carriers and with one click all the products in the shopping cart are purchased within a single checkout experience."
"After a purchase is completed, SmartCART Technology creates a permanent online account that automatically stores all of a customer's information securely—just like their online banking account. Not only can they access welcome letters, policies, coverage certificates, claim filing information and identification cards but also modify everything from updating their payment method to changing the profile of their dependents and beneficiaries. Chesky concluded, critically important to the financial institution, this shopping experience occurs entirely within the financial institutions web portal—never offloading their customer to a third party website and thus preserving the entirety of the customer experience within their own brand. This is fundamental to every financial institution's goal of deepening relationships with their customers and transforming their websites into fee income generating e-commerce machines."
Insuritas enables financial institutions to own an insurance agency solution without the significant capital investments required to build or buy an agency, or the inherent operational risks attendant to either of those approaches. Through a cost-effective outsourcing solution, financial institutions leverage Insuritas' proven, end-to-end insurance agency solution. Additional information is available at www.insuritas.com.
SOURCE Insuritas, Inc.
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