NetBank Launches Auto Insurance Through Affiliate

April 15, 2003

Internet bank NetBank®, based in Atlanta, announced it is now offering insurance products to consumers through its sister company, NetInsurance Inc., a national insurance agency offering products from many of the nation’s leading insurance companies.

Auto insurance will be the first NetInsurance(TM) product offered through the bank, and plans call for other products such as homeowners insurance to follow soon.

From the NetBank Web site,, consumers can access estimates, receive competitive quotes from multiple providers, and apply for and purchase a policy. The process is intuitive and has helpful hints to answer common questions at each step along the way. Currently, auto insurance is available to residents in Arizona, California, Florida, Georgia, New York, Pennsylvania, South Carolina, and Texas. NetBank will expand the service to include additional states in phases throughout the year.

The insurance products are available to customers of each of NetBank Inc.’s primary business units. The company’s two wholesale mortgage lending units, RBMG® and Meritage Mortgage®, and its retail mortgage lending unit, Market Street Mortgage®, have been conducting pilots in California and Florida offering homeowners insurance, through NetInsurance, to customers applying for a loan. Those pilots are now being expanded to include 10 additional states: Arizona, Colorado, Georgia, Illinois, Michigan, Nevada, Oregon, South Carolina, Utah and Virginia.

Topics Auto New Markets

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