Recognizing the value their insurance technology and services can bring to a variety of adjacent industries, Bindable has tailored its core capabilities to offer turnkey virtual agencies for those entering the personal lines space.
Boston, MA – Bindable, the InsurTech leader for alternative distribution technology and services, today announced an exclusive offering for businesses and individuals looking for a hassle-free point of entry into property and casualty (P&C) insurance sales. Now, organizations from across insurance-adjacent industries—including credit unions and banks; fintechs; wealth management firms; lenders and servicers; home ecosystems; auto dealerships; life and health insurance brokers; former captive agents; and even individual entrepreneurs—can leverage Bindable’s flexible approach to white-label embedded insurance programs to offer protection products directly to consumers.
“The hard market conditions of the past couple of years have proven the value of offering curated choice to consumers through independent channels,” said Bill Suneson, co-founder and CEO of Bindable. “That, coupled with consumers’ continued preference for buying insurance from trusted sources, has created clear entrepreneurial opportunities for those with captive audiences to take advantage of a diversified business model and unlock new streams of recurring revenue. We believe we have the exact tools and expertise needed to help others do so.”
Launching a personal lines virtual insurance agency through Bindable includes access to:
- A brand-aligned digital insurance program that enables users to quickly begin selling insurance without the high upfront costs of a physical location or one-off technology investments,
- Essential agency tools including a digital front-end marketplace, telephone system, and a license to Policy Crusher®, Bindable’s customer relationship management tool, comparative rater, and cross-sell engine,
- Competitive insurance products, including offerings from multiple auto and home insurance companies, as well as various digital options like renters, flood, pet, travel, RV, and umbrella insurance.
Additionally, organizations that require the expertise of Bindable’s nationally-licensed team of agents until they are prepared to operationalize their own agency sales have the option to leverage the same award-winning white-label services trusted by hundreds of affinity programs.
According to Bindable’s own data, building a new insurance agency can cost up to 2.3x more when done from scratch. Bindable’s ready-made virtual agency solution allows for the rapid launch of an expertly-guided insurance program, providing the essential infrastructure and tools for accelerated success. By partnering with Bindable, entities can bypass common barriers to starting a new P&C agency, and benefit from a flexible revenue source that drives customer acquisition, boosts retention, and creates a strong competitive advantage.
Source: Bindable
