CUFG & Sure Launch Insurance Platform for Credit Unions

The credit union sector has traditionally lagged behind mainstream banking in digital adoption, yet the landscape is rapidly evolving. 

The partnership between insurance technology firm Sure and CU Financial Group (CUFG) represents a significant step forward, with the launch of SimpleQuote, a digital insurance platform specifically designed for credit union members.

The initiative arrives at a crucial moment for credit unions, which have faced mounting pressure to digitalise their services following the Covid-19 pandemic. 

As traditional branch-based interactions declined, credit unions discovered their members were increasingly comfortable with digital services – and, crucially, showed little inclination to return to pre-pandemic methods of conducting financial business.

This digital evolution has shown promising results in terms of member satisfaction. According to Sure's experience with its partners across the financial sector, consumers who transition to digital insurance transactions consistently report high satisfaction levels. 

This trend mirrors what credit unions observed during the pandemic when members who were compelled to adopt digital services due to branch closures discovered the convenience of online transactions. 

The partnership between Sure and CUFG capitalises on this shift in consumer behaviour whilst potentially enhancing brand loyalty, as members no longer need to seek insurance options outside their credit union's ecosystem.

Technology Meets Traditional Finance 

SimpleQuote's initial focus on motor insurance marks the beginning of what CUFG envisions as a comprehensive digital insurance offering. The platform leverages Sure's technical infrastructure and carrier network, combining it with CUFG's established presence in the credit union sector.

“The pandemic accelerated the shift to digital financial services that organisations had long neglected, and credit unions are amongst the last to adapt to changing consumer preferences for digital,” says Wayne Slavin, Sure's Co-founder and CEO. 

“The first-mover advantage is real, and CUFG is helping to lead credit unions into the future of digital insurance with SimpleQuote.”

Member Experience at the Forefront 

The partnership addresses a crucial gap in credit unions' service offerings. While these institutions have historically provided insurance products, the process has often been fragmented and cumbersome for members. 

SimpleQuote aims to streamline this experience by enabling members to purchase insurance directly through their credit union's digital channels.

Christian Marrder, Vice President of Sales and Operations at CUFG, emphasises the strategic importance of this development: “Our network of credit unions looks to us to tailor their insurance programmes to fit their individual member needs. 

“What we were lacking was the technology and distribution platform to remove the friction from this experience and offer the first fully digital insurance experience ever available to credit union members.”

The platform's development reflects a broader trend in financial services, where traditional institutions are increasingly partnering with technology providers to enhance their digital capabilities. 

For credit unions, which often compete with larger banks and fintech companies, such partnerships are becoming essential to maintain relevance and meet member expectations.

“Our ultimate goal at CUFG is to empower members to purchase insurance directly at their credit union, eliminating a fragmented process,” says Christian. 

“Sure is enabling us to change the way insurance is distributed – digitally and at the precise moment of need.”

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