Insurance: New Bank Agency, Leader Insurance, Launches

Insurance Agency is a subsidiary of Arlington-based Leader Bank

Leader Bank, headquartered in Arlington, announced last week the launch of a new insurance agency subsidiary, Leader Insurance LLC. The bank, which has grown from $6.5 million in assets at its founding in 2002, to over $4 billion in assets today, stated that the new insurance agency will streamline the home buying process for its clients by providing property, auto, and umbrella insurance policies.

Insurance: New Bank Agency, Leader Insurance, Launches

The bank’s announcement of the new insurance agency, quoted Jay Tuli, President of Leader Bank as stating, “We are constantly striving to expand our products and services to offer their clients a holistic banking and lending experience,” and “Introducing Leader Insurance allows us to expand our client-centric culture to an adjacent business in property and auto insurance.”

The bank obtained name approval for its new agency from the Division of Insurance on June 9, 2022, and filed the agency as an LLC, with the Secretary of State on July 9, 2022. Leader Bank announced publicly that Leader Insurance had started business operations on January 17, 2023.

The bank reported that Leader Insurance “has partnered with the top-rated insurance carriers in the region to offer its clients great rates and service for their home, car, or investment property policies all with an easy-to-use digital experience.” One carrier appointment that appears on-line is for the agency with the Andover Companies.

Currently, Leader Bank’s agency subsidiary is offering insurance to clients in Massachusetts and New Hampshire and plans to expand operations throughout most of New England in 2023.

Sean Valiton, Leader Bank’s Senior Vice President of Sales and New Business, stated in the bank’s announcement,  “they are excited to offer their clients a streamlined, digital process for obtaining an insurance quote when they receive a loan through Leader Bank,” adding that this offering helps simplify the often-complicated loan application process.”

ABOUT LEADER BANK, N.A.

Founded in 2002, Leader Bank, N.A. is a Massachusetts-based entrepreneurial financial institution that approaches banking differently. The core tenets of Leader Bank include world-class client service, exemplary products, and innovation to meet the needs of its clients. At its founding, Leader Bank had $6.5 million in assets – in the two decades since, the Bank has grown into one of the most successful financial institutions in the Commonwealth with $4 billion in assets. Leader Bank’s team members have been at the forefront of supporting the Bank’s rapid growth and client-oriented solutions over the last two decades as the Bank has expanded its commercial and retail products and solutions. Leader Bank is a committed corporate citizen and prides itself on partnering with and supporting philanthropic organizations.

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