EAST GRADY, Conn. -- Things are shaking up at Banc Insurance Services, a turnkey insurance agency solutions provider.
BIS Founder/President Jeffrey Chesky's management team and a group of private investors have recently purchased the company from Jack Henry & Associates Inc.
"Under JHA, we were able to make substantial upgrades to our master agency platform and build a more technology rich infrastructure for providing a comprehensive, totally integrated insurance agency solution for financial institutions. We enjoyed great support inside JHA but our management team concluded that the business could grow more rapidly as an independent company," said Chief Operating Officer Sandy Fehrs.
Terms of the transaction were not disclosed.
BIS was founded in 1999 and was purchased by JHA in 2004, when it attained credit union clients. BIS delivers entirely outsourced insurance agency sales and service operations for financial institutions nationwide.
With the purchase, the company name has been changed to Insuritas Inc., launched its new Web site, www.Insuritas.com.
The Insuritas turnkey solution includes sales professionals and proven sales strategies, complete back-office services including billing and claims processing and ongoing access to insurance industry experts.
"Financial institutions do a great job of running deposit, loan and investment aisles in their stores. The biggest barriers impacting their success in creating an insurance aisle in their stores is cost and culture," said Chesky who serves as president/CEO of Insuritas. "We are excited at the opportunity to continue designing, implementing and managing successful insurance agency aisles in the stores of financial institutions nationwide."