Insuritas
Insuritas provides the BUNDLE embedded insurance platform and Lily AI agent, enabling U.S. banks and credit unions to launch white-labeled, full-service insurance agencies inside their own digital ecosystems. Acquired by HUB International's VIU by HUB in December 2024.
- Company typePrivate
- Founded1999
- HeadquartersEast Windsor Hill, United States
- Headcount51–100
- GTM typeB2B
- OfferingSoftware
What Insuritas does
Insuritas is a B2B insurance technology and managed-services company that enables U.S. banks and credit unions to launch and operate white-labeled, full-service insurance agencies inside their own digital ecosystems. Founded in 1999 (originally as Banc Insurance Services) and headquartered in Agawam, Massachusetts, the company was acquired by VIU by HUB, a division of HUB International, in December 2024, and now operates as a subsidiary of the fifth-largest global insurance broker.
The company's core product is the BUNDLE platform, an embedded insurance agency solution that integrates with a financial institution's web and mobile properties, allowing the institution's customers to shop, quote, bind, and service policies from more than 40 carrier integrations (including Allstate, GEICO, Liberty Mutual, Nationwide, and Progressive) without leaving the bank's portal. The platform is augmented by Lily, a proprietary AI- and automation-powered virtual insurance agent that handles conversational quoting across communication channels. Insuritas also handles the full operational stack — licensing, carrier appointments, compliance, digital quoting, and partner marketing — so the financial institution owns 100% of the agency and the customer contracts while running no insurance staff.
Insuritas makes money primarily through a commission share on policies sold through the embedded agencies it operates, supplemented by managed-services fees for agency operations, licensing, compliance, and digital marketing. It sells exclusively through direct enterprise sales to financial institutions, supplemented by inside sales for mid-market accounts and association referral channels (Tennessee and North Carolina Bankers Associations). As of the most recent disclosures, the platform is deployed across 250+ financial institutions serving more than 10 million consumers, generates $30M+ in annual premium for partners, and reports a 65%+ customer retention rate on policies sold; the company itself has 51–100 employees.
Insuritas firmographics
Firmographics- Name
- Insuritas
- Legal name
- Insuritas
- Website
- https://insuritas.com
- Company type
- Private
- Founded year
- 1999
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Insuritas provides the BUNDLE embedded insurance platform and Lily AI agent, enabling U.S. banks and credit unions to launch white-labeled, full-service insurance agencies inside their own digital ecosystems. Acquired by HUB International's VIU by HUB in December 2024.
- Ownership category
- akta.pro rank
Insuritas industry classification
Industry- Product category
- Insurance Distribution Platform
- NAICS
- Agencies, Brokerages, and Other Insurance Related Activities (5242), Insurance Agencies and Brokerages (524210), Insurance Agencies and Brokerages (52421)
- SIC
- Insurance Agents, Brokers & Service (6411), Services-Computer Programming, Data Processing, Etc. (7370)
- akta.pro primary industry
- Embedded Insurance & Affinity Distribution Platforms (FSAGAGAL)
Keywords
Where Insuritas is headquartered
LocationHeadquarters
- HQ city
- East Windsor Hill
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Insuritas business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- Commission Revenue from Insurance Sales: Insuritas generates revenue through commissions on insurance policies sold through the white-labeled agencies they operate for financial institution partners. Financial institutions receive recurring fee income from insurance sales, while Insuritas takes a share as the agency operator.
- Agency Management & Operations Services: The company provides full agency operations management including licensing, carrier relationships, compliance, digital quoting, and marketing support as part of their managed services model.
Go-to-market motion1 record
Distribution channels3 records
Marketing channels5 records
Insuritas product offering
Product offeringCore offering
Insuritas operates an embedded insurance agency platform (BUNDLE) that enables banks and credit unions to launch and operate white-labeled, full-service insurance agencies within their existing digital ecosystems. The company handles all agency operations including licensing, carrier relationships, compliance, digital quoting, and marketing while financial institutions own 100% of the agency. Through integrations with 40+ top US insurers and the AI-powered Lily virtual agent, Insuritas enables partners to offer vehicle, property, business, pet, disaster, home services, and specialty insurance to their customers.
Product overview
Insuritas operates as an embedded insurance platform provider for financial institutions, offering a unified BUNDLE platform that enables banks and credit unions to launch and operate white-labeled, full-service insurance agencies. The core BUNDLE platform powers the insurance marketplace and is enhanced by Lily, a proprietary AI-powered virtual insurance agent. The platform integrates with over 40 insurance carriers to provide a comprehensive insurance product portfolio including Vehicle Insurance (Auto, ATV, Boat, Motorcycle, Snowmobile, Classic Car, RV, Travel Trailer), Property Insurance (Home, Condo, Renters, Flood, Earthquake, Disaster), Business Insurance (Commercial Auto, Property, D&O, Liability, E&O, Workers Comp), and specialty products (Pet, Home Services, Travel, Identity Protection, Roadside Assistance, Wedding, Event). Financial institutions own 100% of the agency while Insuritas operates it, generating recurring non-interest fee income through the sale of insurance products that customers purchase annually.
Differentiator
Problem solved
Functional benefit
Products and services
- BUNDLE Platform The core embedded insurance agency platform that enables financial institutions to offer white-labeled, full-service insurance agencies within their existing ecosystems. Delivers a suite of embedded solutions allowing banks and credit unions to offer insurance products through their own branded digital experience, with integrations to 40+ insurance carriers.
- Lily Virtual Insurance Agent Proprietary virtual insurance agent technology powered by AI and automation. Lily serves as a digital insurance assistant that interacts with customers across communication channels to answer questions, assist with insurance shopping, and help increase sales through conversational AI.
- SmartCART Technology Earlier generation insurance technology platform that allows consumers to shop, compare, and buy insurance products without leaving the financial institution's web portal. Awarded NAFCU Services' 2013 Preferred Partner Innovation Award.
- Vehicle Insurance Comprehensive vehicle insurance offerings including Auto, ATV, Boat, Motorcycle, Snowmobile, Classic Car, RV, and Travel Trailer coverage enabling financial institutions to offer branded vehicle insurance solutions to their customers.
- Property Insurance Property insurance products including Home, Condo, Renters, Flood, Earthquake, and Disaster coverage helping customers protect their homes and possessions.
- Business Insurance Business insurance solutions including Business Automobile, Commercial Property, Directors & Officers (D&O), General Liability, Errors & Omissions (E&O), and Workers Compensation coverage.
- Pet Insurance Customizable pet coverage for veterinary care, accidents, and illnesses offered through partnership with Odie Pet Insurance, integrated into the BUNDLE platform.
- Disaster Insurance Multi-peril disaster insurance through Recoop partnership providing lump-sum cash benefits up to $25,000 after declared disasters including hurricane, wildfire, tornado, earthquake, gas explosion, winter storm, or dust storm.
- Home Services Access to pre-screened professionals for repairs, maintenance, and emergency home services, integrated through partnership with Integral Group Solution (IGS).
- Additional Specialty Insurance Products Specialized insurance products including Event, Home Warranty, Travel, Identity Protection, Roadside Assistance, and Wedding coverage to meet evolving customer needs.
- Managed Agency Operations Services Full-service agency operations management including licensing, carrier relationships, compliance, digital quoting, marketing support, and ongoing servicing provided to financial institution partners as part of Insuritas' managed services model.
Quantifiable outcome
- 65%+ customer retention rate on policies sold
- +4 more outcomes
Companies that use Insuritas
Customer profileNamed customers10 records
Segments2 records
Ideal customer profiles2 records
Insuritas technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability6 records
Feature4 records
Insuritas partnerships and signals
Strategic signalPartnerships
13 partnerships are on record, tiered major and core.
- Broadway BankmajorPartnership to establish full-service digital insurance agency within Broadway Bank's banking ecosystem, offering comprehensive insurance solutions including auto, home, commercial and specialty coverage to retail and commercial customers.
- First Source Federal Credit Unionmajor$1B credit union partnered to launch and operate First Source Insurance Services, leveraging Lily proprietary virtual insurance agent technology to offer full suite of consumer and business insurance products to 68,000 members.
- Meriwest Credit Unionmajor$2.09B assets, 80,000+ members credit union designated Insuritas to launch and operate their agency leveraging Lily virtual insurance agent technology to drive recurring fee income.
- GEICOcorePartnership with GEICO expands customer choice and unlocks new revenue opportunities for Insuritas' network of 250+ financial institution agencies. GEICO is one of the most recognized personal lines insurers.
- Agency Insurance Company (AIC)corePartnership expands insurance shopping capabilities for members of financial institution agencies in Maryland, Pennsylvania, and Virginia through BUNDLE by Insuritas.
- Extraco Banksmajor$2B assets bank selected Insuritas to manage and scale their wholly-owned Extraco Insurance Agency, embedding it into the bank's ecosystem to scale recurring income.
- VIU by HUB (HUB International)majorAs of December 1, 2024, Insuritas was officially acquired by VIU by HUB, a division of HUB International, the 5th largest insurance broker worldwide. This represents a major strategic alignment.
- RBFCU (Randolph-Brooks Federal Credit Union)major11th largest credit union in U.S. ($17.5B assets, 1.1M members) selected Insuritas to manage and scale RBFCU Insurance Agency, embedding insurance agency within its ecosystem for recurring income.
- Recoop Disaster InsurancecoreStrategic partnership integrates Recoop's multi-peril disaster insurance product within Insuritas' BUNDLE platform. Coverage pays lump-sum cash benefit up to $25,000 after declared disasters including hurricanes, wildfires, tornadoes, earthquakes. Payment typically within 48 hours.
- Integral Group Solution (IGS)corePartnership integrates Home Services product into Insuritas' embedded insurance platform, strengthening BUNDLE to offer home services coverage in addition to existing home, auto, renters, and business insurance products.
- Odie Pet InsurancecoreIn July 2024, Odie Pet Insurance partnered with Insuritas to launch an Accident Only plan integrated into Insuritas' BUNDLE platform. The partnership enables financial institutions to offer pet insurance to their customers, expanding access to affordable accident coverage with digital claim filing and simplified enrollment.
- TreadscoreTreads App launched Treads Insurance through partnership with Insuritas. The partnership enables and implements BUNDLE, delivering suite of embedded solutions for retail apps, financial institutions, payment and retail platforms.
- Credit One BankmajorCredit One Bank (12 million active card holders) engaged Insuritas to install full-service digital insurance agency platform owned by the bank and embedded inside the bank's ecosystem.
Scale indicators9 records
Recent moves7 records
Expansion highlights6 records
Insuritas competitors and assessment
Company assessmentDirect peers
- TruStage: TruStage (formerly CUNA Mutual) is the dominant insurance and financial services provider for U.S. credit unions, directly competing with Insuritas in embedded credit union insurance distribution and agency operations.
- Bankers Insurance Group: Bankers Insurance Group provides insurance agency solutions, carrier access, and operational support for community banks, directly competing with Insuritas' embedded insurance agency model for financial institutions.
- Trellis (formerly Credit Union Insurance Solutions): Trellis provides insurance distribution and agency management services specifically for credit unions, overlapping with Insuritas' core credit union embedded insurance customer base.
Emerging players
- Boost Insurance: Boost Insurance provides embedded insurance infrastructure and APIs that allow digital platforms to offer insurance products, making it a tech-forward comparable to Insuritas' BUNDLE platform for non-insurance brands.
- CoverWallet: CoverWallet is an insurtech focused on small business insurance, comparable to Insuritas as a digital-first insurance distribution platform targeting a defined customer segment with technology-driven service.
- Slice Insurance Technologies: Slice Labs provides on-demand, cloud-based embedded insurance technology for digital platforms, directly comparable to Insuritas' approach of embedding insurance into non-insurance customer ecosystems.
- Lemonade: Lemonade is a direct-to-consumer insurtech that competes indirectly with Insuritas by offering digital-first insurance experiences that may bypass the bank-channel distribution Insuritas relies on.
Broad incumbents
- LPL Financial (Insurance Solutions): LPL Financial operates a large insurance distribution platform serving financial institutions and advisors, representing a much larger incumbent adjacent to Insuritas' FI-focused insurance agency business.
- iPipeline: iPipeline provides end-to-end insurance distribution, underwriting, and policy administration technology used by carriers and distributors, comparable to the BUNDLE platform's role in insurance product workflows.
- HUB International: HUB International is Insuritas' new parent company (via VIU by HUB) and the 5th largest global insurance broker; comparable as the broader broker organization now housing Insuritas' embedded insurance platform.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights6 records
Customer concentration
Insuritas social profiles
Digital presenceInsuritas financial estimates
Financial estimateRevenue estimate
Valuation estimate
Insuritas leadership team
Management profileNumber of profiles
Profiles8 records
Insuritas funding detail
Funding detailFunding overview
Funding rounds1 record
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Insuritas M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Insuritas
What does Insuritas do?
Insuritas operates an embedded insurance agency platform (BUNDLE) that enables banks and credit unions to launch and operate white-labeled, full-service insurance agencies within their existing digital ecosystems. The company handles all agency operations including licensing, carrier relationships, compliance, digital quoting, and marketing while financial institutions own 100% of the agency. Through integrations with 40+ top US insurers and the AI-powered Lily virtual agent, Insuritas enables partners to offer vehicle, property, business, pet, disaster, home services, and specialty insurance to their customers.
Is Insuritas a public or private company?
Insuritas is a private company. It is classified as corporate owned and is currently operating.
When was Insuritas founded?
Insuritas was founded in 1999. It employs 51 to 100 people.
Where is Insuritas based?
Insuritas is headquartered in East Windsor Hill, United States, in the North America region.
How does Insuritas make money?
Two revenue lines are on record. Commission Revenue from Insurance Sales are the primary driver. The others are agency Management & Operations Services.
Who are Insuritas's main competitors?
Direct peers on record are TruStage, Bankers Insurance Group and Trellis (formerly Credit Union Insurance Solutions). Emerging players are Boost Insurance, CoverWallet, Slice Insurance Technologies and Lemonade. Broad incumbents are LPL Financial (Insurance Solutions), iPipeline and HUB International.
Does Insuritas have an API?
No public API is recorded for Insuritas.
What industry is Insuritas in?
Insuritas's product category is Insurance Distribution Platform. Its primary akta.pro industry code is FSAGAGAL, Embedded Insurance & Affinity Distribution Platforms. Its NAICS code is 5242 and its SIC code is 6411.