Another Massachusetts-based bank is getting into the insurance industry. Martha’s Vineyard Bank, created in 2007 after the merger of Dukes County Savings Bank and Martha’s Vineyard Co-operative Bank, launched Vineyard Sound Insurance in July.
“Our mission is to make our clients’ financial lives easy. Our Bank clients are interested in having a one-stop shop for all of their financial and insurance needs. The addition of Vineyard Sound Insurance allows us to offer a full suite of financial solutions”, stated James M. Anthony, President and CEO of Martha’s Vineyard Bank, the parent company of Vineyard Sound Insurance.
The new agency, powered by the digital insurance agency platform Insuritas, will allow the bank to grow its book of business quickly and seamlessly by allowing it to offer over 20 different lines of insurance to the bank’s more than 30,000 customers. The bank says through this partnership its Vineyard Sound Insurance Agency can now offer personal, commercial and ancillary insurance products from more than 40 carriers and includes products such as flood, identity theft, travel, pet, and professional liability insurance in addition to the more traditional auto and home products.
“We’re delighted to announce our relationship with Martha’s Vineyard Bank and are proud to have earned the opportunity to build, launch, and manage a full-service, digitally powered insurance agency for the bank and its customers,” said Insuritas Chairman and CEO Jeffrey Chesky. “Through our relationship, the bank will now be able to provide simple, seamless access to competitive options for their customers’ insurance needs, all with a focus on delivering the right coverages at the right price at the right time.”
Founded in 1999 in Connecticut, Insuritas builds, deploys, and operates white-labeled insurance agencies with financial institutions around the country. The company says it serves over 10 million customers nationally through its “Insuritas ecosystem.”
