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VIU by HUB Broadens Its Insurance Footprint with Insuritas Acquisition

In a strategic move that underscores its commitment to innovation and customer focus, VIU by HUB (VIU), a prominent omnichannel insurance brokerage platform, has officially announced its acquisition of BIS Management Services, Inc., better known as Insuritas. This acquisition is set to enhance VIU’s offerings within the financial services sector, allowing for greater access to embedded insurance solutions for banks and credit unions.

With this acquisition finalized as of December 4, 2024, the agreement brings significant value by bolstering VIU's capabilities in providing a cohesive and efficient customer journey. As highlighted by Bryan Davis, the President of VIU, this partnership marks a major milestone in the company's journey to empower consumers with unbiased choices across the insurance landscape.

Strengthening Financial Partnerships

Insuritas has built a robust network by collaborating with over 100 banks and credit unions across the United States. This strong presence in the market enables financial institutions to enhance their product offerings and elevate customer interactions through seamless insurance solutions. By integrating Insuritas’s expertise with VIU’s cutting-edge digital platform, the acquisition is poised to drive revenue growth and improve customer retention for financial institutions.

In Davis's words, “Our strong partnerships in the financial institution space make this acquisition a pivotal point in our mission to offer consumers the neutrality and options they deserve.” Through the combined strengths of both entities, VIU is expected to enhance the overall purchasing experience for insurance consumers.

Leadership Transition

In conjunction with the acquisition, key members of the Insuritas team will transition to VIU. Among those joining are Insuritas CEO Jeff Chesky, COO Dave Grimson, and Chief Marketing Officer Donna Jermer. Their collective experience will not only facilitate a smooth transition but also enrich VIU's existing talent pool as they aim to improve customer service and technological integration.

Chesky expressed enthusiasm about joining forces with VIU, emphasizing, “We are thrilled to merge our operations with VIU by HUB, advancing our mission of creating a transparent shopping experience that allows customers to find the right coverage.” This sentiment echoes the broader vision both companies share of enhancing consumer engagement in navigating their insurance options.

Innovative Insurance Solutions

VIU by HUB, powered by Hub International Limited, is redefining the personal insurance market. The company's integrated approach merges technology with personal service, offering customers an extensive range of insurance products including home, auto, life, and pet coverage. Customers can receive personalized advice and quotes from a multitude of carriers through various channels, including online platforms and mobile apps.

The embedded broker platform allows for seamless integration into partners' systems, making it easier for institutions involved in consumer purchases, such as real estate companies, to provide comprehensive insurance solutions. This adaptability positions VIU as a leading player in the insurance marketplace, making the insurance journey more convenient for the modern consumer.

Looking Forward

Both VIU and Insuritas are focused on the future, looking to leverage their combined strengths to innovate within the financial institution space. The acquisition paves the way for further growth opportunities, which will drive enhanced customer experiences while maintaining the integrity of services offered by both entities.

As the insurance landscape continues to evolve, VIU by HUB remains committed to prioritizing consumer choice and delivering the transparency that today’s customers seek in their insurance purchasing decisions. This acquisition not only aids in their growth strategy but sets a formidable precedent in the insurance brokerage sector, facilitating a more inclusive environment that caters to a diverse range of consumer needs.