Insurtech firm Propeller inks preferred surety and fidelity bond partnership with ISU Insurance Agency Network, automating the entire bonding process for agents
Oct 27, 2020, 10:19 ET
PHILADELPHIA, Oct. 27, 2020 /PRNewswire/ -- Propeller Inc. has signed an agreement with the ISU Insurance Agency Network to serve as a preferred surety and fidelity bond partner to their network of over 200 agencies. The partnership focuses on delivering technology to agencies which will automate the entire surety bond process, a process which is historically maligned by paper-intensive and time consuming activities.
60 Second Bond Purchase by Propeller:
Chris Kolger, Director of Operations at Propeller, stated, "We're very excited to partner with the ISU Insurance Agency Network and are already introducing our technology to their agency members. ISU has an upstanding reputation within the insurance industry and the agencies we have worked with thus far have been stellar in their willingness to learn and embrace new technology to the surety bond space. We're confident this will be a great partnership for all parties involved." The ISU Insurance Agency Network is currently the second largest agency network by premium volume and growing.
The rollout of Propeller to the ISU Insurance Agency Network will be strategic. The rollout will begin in the southeast region, with the goal being to complete the national expansion by year's end. Propeller will work closely with agencies to maximize revenue and create operational efficiencies within agent's surety books of business. This process will create greater ROI for agencies and turn an oft ignored line of business into an opportunity to increase revenue for the agencies.
Propeller Inc. is a digital distribution agency equipped with a proprietary instant issue surety bond platform. The platform currently houses over 2,000 instant issue surety bonds, with thousands more to be added by 2021. Propeller private labels the platform for agencies, allowing agents to either purchase bonds for clients or by empowering clients to purchase bonds directly. Agents are compensated for all purchases via their unique site link. The company partners with highly respected "A" rated carriers.
Contact: Aaron Steffey
SOURCE Propeller, Inc.
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