InsurBanc

InsurBanc is the insurance-agency lending division of Connecticut Community Bank, N.A., an FDIC-insured institution based in Farmington, Connecticut. It serves independent insurance agencies nationwide rather than a single region, delivering its products mainly through online and mobile banking rather than a walk-in branch. That agency-only focus sets it apart from general commercial lenders.

Website: insurbanc.com

Head office address: 10 Executive Drive, Farmington 06032

Founded: 2001

Company type: division of Connecticut Community Bank, N.A.; FDIC-insured

Regions served: nationwide

History of InsurBanc

The division traces back to the Independent Insurance Agents and Brokers of America, known as the Big “I,” which organized it in 2001 to give member agencies a lender that actually understood how their businesses worked. That agency-first mission has carried through a change in ownership since.

• 2001: the Big “I” organizes InsurBanc as a federal savings institution dedicated to independent insurance agencies
• 2013: Connecticut Community Bank, N.A. acquires the operating assets and deposits, and the division becomes part of the bank
• 2015: Insurance Business names the lender to its Best of the Best list for its work in agency financing

That 2013 change brought InsurBanc under an FDIC-insured community bank. It kept its original mission and its own brand within the insurance industry.

What does InsurBanc offer?

The division builds its lending and banking products around how insurance agencies actually operate, from valuing a book of business to funding a change in ownership. Core offerings include:

• perpetuation and acquisition financing for agencies changing hands or expanding into new markets
• digital business banking products, including checking, savings, and cash management services
• commercial term loans and working capital lines to support agency growth
• digital personal banking services for agency owners and their employees

The lender pairs these agency-specific loan structures with everyday digital banking. An agency can manage financing and daily accounts through one relationship, without needing a walk-in branch.

Where does the lender fit in the market?

InsurBanc describes itself as the only US bank built specifically for insurance professionals, competing less with large commercial banks and more on its knowledge of agency valuation and perpetuation deals. It works with agencies of varying sizes nationwide, not just in Connecticut. That reach, combined with its roots in the Big “I” network, gives the firm a distinct role among lenders serving the insurance distribution channel.

Curious what InsurBanc has been doing recently? Scroll down for its latest news coverage.