Provident Central Corp., the CUSO of Provident Central Credit Union, has signed with BIS, Inc., a provider of turnkey insurance agency solutions, to provide insurance agency services to the credit union's members and those of other Cus.
The Holyoke, Mass.-based Banc Insurance Service's end-to-end insurance agency solution allows a financial institution to own and operate an integrated insurance agency operation that features a full range of personal and commercial lines insurance coverages from a wide array of nationally recognized insurance carriers.
"The BIS model can also absorb the book of business of a local insurance agency that a financial institution has acquired but has been unable to manage profitably," the company said. "The BIS model allows a financial institution to own a complete insurance agency solution without the major capital investment or reputational risks associated with building or buying a local insurance agency."
"This is a very important milestone for Banc Insurance Services and underscores our commitment to providing superior, cost effective insurance agency solutions to the nation's premier financial institutions," said BIS CEO Jeffrey Chesky.
