InsurBanc Celebrates 20 Years of Serving Independent Agents

InsurBanc, the national bank for independent insurance agents and brokers, today marks 20 years of service. To help celebrate, InsurBanc is donating $5,000 to Invest, a nonprofit organization administered by Independent Insurance Agents & Brokers of America (Big “I”) that educates high school and community college students about insurance and risk, encouraging them to pursue careers with independent agents and brokers. This continues InsurBanc’s long tradition of supporting Big “I” state and national association initiatives.

Source: InsurBanc | Published on April 12, 2021

Invest’s interactive curriculum teaches students to be smarter insurance consumers and offers them a chance to explore mentorship, apprenticeship and employment opportunities in agencies. Invest seeks to offset a talent gap of approximately 400,000 insurance workers over the next five years.

“It’s vitally important that we attract a new generation of professionals to our industry,” says David Tralka, InsurBanc president and CEO. “Joining with Invest to inspire more young people to consider insurance as a stable, dynamic career is one way we can help ensure the agency system will prosper in the decades ahead.”

“The Big ‘I’ is so grateful to InsurBanc for the dedicated support of our members and the independent agency system over the last two decades,” says Bob Rusbuldt, Big “I” president and CEO. “No one understands the needs of our community better than InsurBanc. This generous gift to our educational program, Invest, is just another example of the partnership and cooperation we have enjoyed with InsurBanc, and a great way to help us perpetuate our channel.”

Organized by the Big “I” and launched in April 2001, InsurBanc has provided over $1 billion in lending capital to independent agents across the country. “Before InsurBanc, independent insurance agencies had few options for financing growth and perpetuation,” says Tralka. “We developed the banking solutions agencies need to acquire new business, modernize their operations, manage cash flow and execute their succession plans. Our mission is to help agencies compete and succeed, to be the agent’s ‘community bank.’

“We appreciate the tremendous support we’ve had from the Big ‘I’ and the independent agent community,” says Tralka. “We know our success comes from investing in the unique enterprise value of independent agencies. We see a bright future for agents, and we look forward to serving as their trusted financial partner for years to come.”

About InsurBanc
InsurBanc, a division of Connecticut Community Bank, N.A., is a community-focused commercial bank specializing in products and services for independent insurance agencies. Organized in 2001 by the Independent Insurance Agents & Brokers of America, InsurBanc partners with agents to help them optimize growth opportunities and manage their agencies efficiently.

InsurBanc specializes in agency financing, including acquisition, perpetuation and custom cash-management services.