The $1.7 billion Scott Credit Union in Edwardsville, Ill., said last week that it launched a new business, SCU Insurance Agency, in collaboration with Insuritas in East Windsor, Conn., while the $17.5 million Randolph-Brooks Federal Credit Union (RBFCU) in Live Oak, Texas, has selected Insuritas to manage and scale the credit union’s insurance agency.
SCU Insurance Agency has incorporated Insuritas’ BUNDLE product, a proprietary technology stack that leverages data-driven machine learning, natural language processing and conversion rate optimization to identify insurance customers.
Scott CU said its insurance agency’s products and services can strengthen relationships with members to help them reach their financial goals and manage risk.
The credit union is the eighth largest financial cooperative by assets in the Land of Lincoln, which serves 144,000 members from 24 locations across Illinois and Missouri.
“Our partnership with Insuritas is a reflection of our dedication to providing comprehensive financial services to our members,” Scott CU President/CEO Frank Padak said in a prepared statement.
The RBFCU insurance agency announced last month that it will also leverage Insuritas’ BUNDLE digital agency platform along with advanced data analytics to offer insurance products to the credit union’s members.
RBFCU is the largest financial cooperative in the Lone Star state and operates more than 60 locations serving more than 1.1 million members.
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