CU Alliance Inks National Insurance Pact
The more than 150 credit unions served by CU Alliance, an auto and mortgage lending CUSO, will have another entry point for insurance products and services, thanks to a new partnership.
The Houston-based CUSO will remarket services and offer several insurance platforms from Insuritas, a provider of turnkey agencies, to credit unions looking for a private label agency, according to the company in East Windsor, Conn.
Adrian Dominguez, president/CEO of CU Alliance, said the CUSO wanted to provide its credit union partners with an insurance solution to help drive a new source of non-cyclical fee income.
“The CU Alliance Advantage has been committed to auto and mortgage loan portfolio growth with our members, and we know that every loan we make generates a need for insurance,” Dominguez said.
In addition to auto and mortgage loan growth services, CU Alliance Advantage provides a car buying service, marketing support, implementation processes, central processing facility and employee training.
Jeff Chesky, president/CEO of Insuritas, said CU Alliance’s full service insurance agency will be operational in 90 days.
Insuritas’SmartCART Technology platform was one of 70 innovations selected to debut in April at FinovateSpring, a two-day event that featured the latest financial and banking technology products and services from established companies and startups.
SmartCART allows consumers to shop, compare and buy auto and home insurance without ever leaving a financial institutions’ web portal, according to Insuritas.